Hybio Pharmaceutical and Sunshine Mandi Pharmaceutical Sign a Series of Commercial Agreements, Accelerating the Progress of Weight-Loss Drugs Across the Board
Beijing, August 19, 2025. Shenzhen Hybio Pharmaceutical Co., Ltd. (referred to as "Hybio Pharmaceutical") and Zhejiang Sunshine Mandi Pharmaceutical Co., Ltd. (referred to as "Sunshine Mandi") officially signed a series of commercial documents in Beijing today, including 《the Entrusted Production and Supply Agreement for Semaglutide Injection (Weight Loss Indication)》 and the 《Quality Agreement》. Zeng Shaogui, Chairman and President of Hybio Pharmaceutical, and Lou Jing, Chairman and Chief Executive Officer of Sunshine Pharmaceutical, signed the agreements on behalf of both parties. Yu An, CEO of Sunshine Mandi; He Xiang, CFO of Sunshine Pharmaceutical; Wu Ling, Government Affairs Director of Sunshine Mandi; Tang Yangming, Vice President of Hybio Pharmaceutical; Yang Di, Vice President of Hybio Pharmaceutical; and Liu Shaoqian, Global BD Manager of Hybio Pharmaceutical, were also present to witness the signing ceremony.
Looking back to May 28, 2024, the two parties had reached a licensing cooperation on Semaglutide Injection (for weight loss indication). After over a year of close collaboration, the project has made positive progress in clinical advancement and registration filing. With this signing, the two parties have reached consensus on key matters such as the supply plan after the product obtains marketing approval, marking the entry of their cooperation into a new phase of commercial implementation. They will integrate their respective advantageous resources to accelerate the marketization of this product.
At the signing ceremony, Zeng Shaogui, Chairman of Hybio Pharmaceutical, stated, "The implementation of this series of commercial agreements is a crucial milestone in accelerating our joint efforts in the weight loss treatment field. We highly recognize Sunshine Mandi’s strong brand influence and comprehensive marketing network coverage in the consumer-oriented pharmaceutical sector. Hybio Pharmaceutical will also give full play to its core advantages in Peptide Drug R&D and large-scale production to ensure the stable supply of high-quality products."
Lou Jing, Chairman of Sunshine Pharmaceutical, noted, "Sunshine Mandi has been deeply engaged in the consumer healthcare market for many years and has always maintained firm confidence in the huge potential of China’s weight loss market. The progress of the Semaglutide Injection (weight loss indication) project under our cooperation is encouraging. We are confident that through complementary advantages, we will quickly launch this weight loss product with international quality into the market, allowing more patients to access domestically produced GLP-1 drugs with international quality assurance at the earliest possible time."
During the exchange session of the signing ceremony, the two parties conducted in-depth discussions around the theme of "Reviewing the Path of Win-Win Cooperation and Embarking on a New Era of Weight Loss" and reached multiple consensuses on six key topics, including registration progress, pre-marketing preparation timeline, market promotion strategy, sales volume forecast, supply chain stockpiling, and in-depth layout of subsequent product pipelines.
According to the agreement, the supply price will be based on non-binding sales volume forecasts, with phased cost calculation and tiered pricing based on annual purchase volumes: ≤5 million vials, 5–10 million vials, and ＞10 million vials. The estimated peak annual sales volume is 30 million vials (the actual volume shall be subject to commercial batch orders). Sunshine Mandi will quickly replicate its mature digital marketing capabilities and brand operation experience in the weight loss field to promote Semaglutide Injection to become the next phenomenal product.
The Semaglutide Injection involved in this cooperation is filed as a Class 2.2 improved new drug and will be produced on the same production line in China and the United States. The production line has passed the on-site audit of the U.S. FDA cGMP system. The rigorous quality management system and international standard production line provide comprehensive and high-quality guarantees for the product’s market launch.
As the pharmaceutical product with the highest global sales volume currently, Semaglutide’s global sales reached USD 16.632 billion in the first half of 2025. Professional institutions predict that due to the large global population of obese people, the overall scale of the global anti-obesity drug market is expected to exceed 100 billion USD by 2030. With its significant blood glucose-lowering and weight loss effects, Semaglutide occupies an important position in this vast market.
In terms of the project's Clinical Trials, a multi-center, randomized, open-label, parallel-group, positive-controlled Phase III clinical trial led by Professor Ji Linong from Peking University People's Hospital takes Novo Nordisk's WEGOVY as the control. With the joint efforts of the teams of Sunshine Mandi and Hybio Pharmaceutical, all subjects were enrolled in January 2025. Currently, all subjects are in the stable administration phase of the maximum dose of 2.4 mg, and the follow-up work is approaching completion.
About Hybio Pharmaceutical
Dedicated to the R&D and production of peptide drugs for nearly 30 years, Hybio Pharmaceutical has simultaneously deployed heavyweight products such as HY3003 (a triple-target weight-loss innovative drug), Retatrutide, Tirzepatide, Semaglutide, and Liraglutide in the standardized markets of Europe and the United States. It has international standard cGMP production lines and the advantage of a vertically integrated industrial chain.
About Sunshine Mandi
As a wholly-owned subsidiary of Sunshine Pharmaceutical, Sunshine Mandi is a high-tech enterprise integrating pharmaceutical R&D, production, and sales. Its core OTC product, Minoxidil Tincture (trade name: Mandi), is used for the treatment of androgenetic alopecia and alopecia areata in men and women. Since its launch in 2001, its cumulative sales have exceeded 40 million bottles. Mandi Foam was approved for marketing and obtained OTC qualification in December 2023. Relying on its strong digital online platform operation capabilities, Sunshine Mandi has become a leader in the domestic hair health field and established a good brand reputation in China. Currently, the company’s products cover multiple fields such as dermatology and ophthalmology, and it will continue to expand into the metabolic disease field.