Gan & Lee Plans $226 Million China IPO

Gan & Lee, China's largest domestic maker of insulin products, plans to stage a $226 million IPO on a China exchange. China's security regulator has approved Gan & Lee's application. Founded in 1998, Gan & Lee produced China's first recombinant insulin, Gansulin®, which was followed in 2001 by the short-acting insulin analog Prandilin® (lispro), and then China's first long-acting insulin analog Basalin® (glargine) in 2002. Gan & Lee is the only China company to market all three generations of insulin-type products. Gan & Lee is headquartered in Beijing.