SEOUL, Dec. 18 (Korea Bizwire) – Samsung Biologics announced on December 18 that it will invest in U.S.-based biotech company Generate Biomedicines through the Samsung Life Science Fund, a venture fund established to advance life sciences innovation. The Samsung Life Science Fund, jointly capitalized with KRW 240 billion ($167 million) by Samsung Biologics, Samsung C&T [028260], [...]
SEOUL, Dec. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it has entered Canada’s dermal filler market as part of its business diversification strategy. LG Chem has launched its hyaluronic acid fillers under the YVOIRE brand in the Canadian market to meet a growing demand for Korean medical aesthetic [...]
SEOUL, Dec. 9 (Korea Bizwire) — South Korea’s pharmaceutical giant Celltrion Inc. said Monday that it has received approval from Canadian health authorities for a biosimilar treatment for allergic asthma. The company said that its biosimilar, Omlyclo, a version of Xolair, has been approved by Health Canada, adding that studies have demonstrated its equivalent performance [...]
SEOUL, Dec. 4 (Korea Bizwire) – In response to growing demand for obesity medications, Samsung Fire & Marine Insurance has launched health insurance products that cover high-cost obesity treatments, marking a significant development in the Korean health insurance market. These new plans offer coverage for GLP-1 class obesity medications, such as Wegovy and Saxenda, which [...]
SEOUL, Dec. 4 (Korea Bizwire) – SK Bioscience has prevailed in an appellate court ruling against Pfizer’s subsidiary, Wyeth LLC, in a patent infringement lawsuit concerning the export of pneumococcal vaccine components to Russia. The Patent Court of Korea overturned a lower court decision, ruling that SK Bioscience’s supply of the 13-valent pneumococcal conjugate vaccine [...]
HANOI, Nov. 28 (Korea Bizwire) – At the E-commerce Connection and Development Forum (ECCDF2024) held at the Hanoi Museum on November 26, Korean companies showcased their strategies to capture the Vietnamese market through products that offer both value for money and emotional satisfaction. Lim Young-ho, director of Skineralism, a cosmetics and food manufacturing company, revealed plans [...]
SEOUL, Nov. 20 (Korea Bizwire) — Samsung Biologics Co. said Wednesday it has won two new contract manufacturing deals with a combined value of 930.4 billion won (US$667.7 million) from a Europe-based biopharmaceutical firm. The deals, set to last until the end of 2031, are valued at 752.4 billion won and 178 billion won, respectively, [...]
SEOUL, Nov. 11 (Korea Bizwire) – South Korea’s health ministry and the World Health Organization (WHO) on Monday launched the annual World Bio Summit, bringing together health care officials from governments and global organizations to South Korea for talks on international cooperation in the health care sector. Under the theme “Future investments for a healthy [...]
SEOUL, Nov. 7 (Korea Bizwire) — South Korea aims to fully self-supply radioactive isotopes by 2030 as part of efforts to foster the local radiobiology industry and begin exporting radiopharmaceuticals by 2035, the science ministry said Thursday. “We have devised a strategy to spearhead into the global radiopharmaceuticals market by improving domestic production capabilities of [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korean authorities have discovered multiple prohibited pharmaceutical ingredients in imported brain health supplements that claim to boost memory and concentration, according to a report released on October 30. The Korea Consumer Agency and the Ministry of Food and Drug Safety jointly examined 19 foreign-made brain health supplements sold on [...]