Samchundang Pharmaceutical to Sign Contract After Completion of Phase 1 Clinical Trial for Oral Insulin in China

Samchundang Pharmaceutical announced on the 24th that it will temporarily suspend explanatory disclosures regarding the development and contract negotiations of oral insulin and GLP-1 with Tonghua Dongbao in China until the completion of the global Phase 1 clinical trial.

According to a company official, “Tonghua Dongbao's role is crucial for securing stable raw materials for oral insulin and GLP-1 to be supplied globally in the future. We have agreed to sign the main contract after the global Phase 1 clinical trial is completed, and this condition remains unchanged.”

He added, “To alleviate shareholder fatigue from repeated explanatory disclosures over the past three years and to restore the company’s credibility, we negotiated for early contract signing over the past month. However, since Tonghua Dongbao wished to maintain the previously agreed contract terms, we reluctantly decided to end the explanatory disclosures for now and focus on progressing the global clinical trial.”

Furthermore, he stated, “The termination of explanatory disclosures does not mean the withdrawal of contract negotiations, there are no technical issues with S-PASS, and we plan to sign the contract as soon as the ongoing global clinical trial is completed. Additionally, as announced in March, we will soon proceed with the clinical application for oral Semaglutide.”

Finally, he said, “Previously, the fact that we were negotiating with Tonghua Dongbao in China discouraged other Chinese companies from approaching us. However, with the disclosure of oral Semaglutide, we are now receiving meeting requests from several companies, so there is no need to worry about the contract.”

Currently, Samchundang Pharmaceutical is developing products that convert injectable obesity and diabetes treatments, including oral insulin and GLP-1 (other than Semaglutide), into oral formulations. In the second quarter, preparations are underway to begin clinical trials for products targeted for sales in 2026.