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 [...]
SEOUL, Oct. 22 (Korea Bizwire) — Samsung Biologics Co. said Tuesday it has signed a deal worth US$1.24 billion for contract manufacturing from an Asia-based biopharmaceutical firm. The deal will last until the end of 2037, the company said in a regulatory filing. Other details remained undisclosed under a confidentiality agreement. Samsung Biologics said the [...]
SEOUL, Oct. 21 (Korea Bizwire) — The health ministry said Monday it plans to co-host an annual biotechnology convention next month with the World Health Organization, bringing experts together to discuss strategies for a stable global health care supply chain. Under the theme “Future investment for a healthy and secure decade,” the World Bio Summit [...]
SEOUL, Oct. 7 (Korea Bizwire) – In an era of rapid technological advancement, South Korean medical professionals are increasingly turning to digital therapeutics and so-called “electronic medicine” to treat and manage various health conditions without traditional pharmaceuticals. Last month, Dr. Kang Dong-wha, a neurologist at Seoul Asan Hospital, prescribed a digital therapeutic device called VIVID Brain to [...]