SEOUL, Dec. 22 (Korea Bizwire) — Samsung Biologics Co., the contract drug manufacturing arm of South Korea’s Samsung Group, said Monday that its U.S. subsidiary will acquire a biopharmaceutical manufacturing facility from GSK for 413.6 billion won ($280 million), marking its first manufacturing footprint in the United States. Samsung Biologics America has agreed to purchase a [...]
SEOUL, Dec. 22 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical company, said Monday it has launched its biosimilar drug Stoboclo-Osenvelt in major European markets, following the product’s initial rollout in the United States in July. Stoboclo-Osenvelt received sales approval from the European Commission (EC) in February, becoming a biosimilar referencing U.S. biotech [...]
SEOUL, Dec. 12 (Korea Bizwire) — Celltrion Inc. said Friday that its autoimmune biosimilar Avtozma has been added to the preferred drug list of Synergie Collective, one of the five largest pharmacy benefit managers in the United States—an endorsement that could significantly widen the drug’s market access. The South Korean biopharmaceutical company said the agreement will [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea plans to gradually open access to its national integrated bio big data system beginning in the second half of next year, as part of a broader push to accelerate the use of medical and public health data across research and clinical fields, the government said Wednesday. The Ministry [...]
INCHEON, Dec. 10 (Korea Bizwire) — Facing a shortage of industrial land for rapidly expanding biopharmaceutical companies in Songdo International Business District, Incheon authorities are moving to reassign plots originally earmarked for public institutions and universities to accommodate additional factory space, officials said Tuesday. The Incheon Free Economic Zone Authority (IFEZA) said Incheon Main Customs has [...]
SEOUL, Dec. 1 (Korea Bizwire) — Following the successful fourth launch of South Korea’s homegrown Nuri rocket, attention is turning to a field that could become a core pillar of the country’s future space industry: space-based pharmaceutical research and manufacturing. “Space pharmaceuticals” refers to using the unique conditions of space — particularly microgravity — to develop [...]
SEOUL, Nov. 25 (Korea Bizwire) — Samsung Group’s bio venture fund will invest in Chinese biotech firm Phrontline Biopharma as part of the group’s broader strategy to expand partnerships in antibody-drug conjugates (ADCs), the group said Tuesday. The investment fund will come from Life Science Fund, created jointly between Samsung Biologics Co., Samsung Bioepis Co. [...]
SEOUL, Nov. 21 (Korea Bizwire) — South Korea has nearly quadrupled its investment in “bio big data” over the past five years, reflecting the government’s drive to strengthen the country’s competitiveness in next-generation drug development and digital healthcare. According to a new report by the National Center for Biotechnology Policy Research, government investment in the sector [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korean biotechnology firms are securing multibillion-dollar licensing deals at a rapid pace, underscoring the rising global competitiveness of the country’s drug-development platforms. According to industry data released Sunday, ABL Bio recently signed a technology-transfer agreement with Eli Lilly for its “GrabBody” bispecific antibody platform, a deal worth up to [...]
SEOUL, Nov. 11 (Korea Bizwire) – South Korea’s biotechnology industry output grew nearly 10 percent in 2024 from a year earlier despite persistent global trade uncertainties, industry data showed Tuesday. The country’s biotechnology industry production came to 22.92 trillion won (US$15.7 billion) last year, up from 20.87 trillion won in 2023, the Ministry of Trade, [...]