SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]
SEOUL, Apr. 23 (Korea Bizwire) — Celltrion Inc. saw the combined market share of its autoimmune biosimilar infliximab products, Remsima and Remsima SC, rising in five European nations, company officials said Tuesday. The combined market share of Remsima and the subcutaneous version of the drug hit 74 percent in Britain, Germany, France, Spain and Italy [...]
SEOUL, Apr. 8 (Korea Bizwire) – As South Korea’s economy continues its transition toward a service-based model, a handful of industries like finance, health care and real estate have emerged as consistent drivers of expansion over the past decade, government data has revealed. Statistics Korea reported on April 5 that the nation’s service sector output increased [...]
SEOUL, Apr. 8 (Korea Bizwire) – A novel category of dietary supplements combining liquid and pill formulations in one convenient package is rapidly gaining traction in South Korea, prompting pharmaceutical companies to ramp up sales and marketing efforts for the innovative “dual-format” products. The premium vitamin brand Enerthistle perfectshot from Daewoong Pharmaceutical crossed 3 million cumulative [...]
SEOUL, Mar. 28 (Korea Bizwire) — The trade ministry said Thursday it has discussed a possible investment opportunity in South Korea with a major U.S. biotechnology firm, as the country aims to become a global manufacturing hub in the industry. Trade Minister Cheong In-kyo met Mark Smedley, a senior vice president of Thermo Fisher Scientific [...]
SEOUL, Mar. 22 (Korea Bizwire) – Starting this year, South Korea will implement measures to enhance transparency in the relationship between healthcare professionals and pharmaceutical and medical device companies. The Ministry of Health and Welfare has announced guidelines for compiling reports detailing the economic benefits provided to doctors and pharmacists. In 2021, amendments were made to [...]
SEOUL, Mar. 21 (Korea Bizwire) — Global pharmaceutical company Merck Life Science said Thursday it will invest some 430 billion won (US$324 million) to build a new bioprocessing production facility in South Korea. The European bio firm plans to build a 43,000 square-meter center in Daejeon, about 140 kilometers south of Seoul, equipped with production, [...]
SEOUL, Mar. 18 (Korea Bizwire) — South Korean biopharmaceutical firm Celltrion Inc. said Monday its new autoimmune disease treatment, Zymfentra, has made a debut in the U.S. market. Zymfentra, a subcutaneous injection formulation of Celltrion’s infliximab Remsima, won approval from the U.S. Food and Drug Administration last year for use on patients who suffer ulcerative [...]
SEOUL, Mar. 18 (Korea Bizwire) – South Korea is set to significantly expand a program that allows residents to safely dispose of expired or unwanted medication simply by dropping it into a mailbox, reducing environmental hazards from improper disposal. According to the Ministry of Environment, as many as 43 municipal governments across the country could adopt [...]
SEOUL, Mar. 15 (Korea Bizwire) – The South Korean government is gearing up to disclose a report by year-end that will reveal the financial benefits received by doctors from pharmaceutical companies, sparking a debate on whether to include identifiable information such as names in the report. According to a statement from the Ministry of Health and [...]