SEOUL, Feb. 28 (Korea Bizwire) — South Korea’s food companies are launching into the pharmaceutical and biotech industries as part of efforts to ensure sustainable business growth. Dongwon Industries Co. has signed an initial agreement with Boryung Partners last week over its possible takeover of Boryung Biopharma Co. Under the memorandum of understanding, the canned [...]
SEOUL, Feb. 15 (Korea Bizwire) — South Korea’s drug safety ministry said Wednesday that it has granted the first-ever domestic marketing license for a digital treatment device, allowing the product to be sold in the country. “We’ve decided to give approval to Somzz as a digital therapeutics device,” Minister of Food and Drug Safety Oh [...]
SEOUL, Jan. 28 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Friday its 2022 net income more than doubled on strong overseas sales of its biomedicine products after its takeover of Samsung Bioepis Co. Its net income reached 798.1 billion won (US$648.1 million) in 2022, up 102.8 percent [...]
SEOUL, Jan. 16 (Korea Bizwire) — Many women might dream of someone taking full care of their period every month, ordering quality sanitary pads in a timely manner and answering embarrassing questions about menstruation and related symptoms. Happy Moonday Inc. — a Korean startup for femtech, which refers to products and services that support women’s [...]
SEOUL, Jan. 12 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Thursday it will invest 7.5 trillion won (US$6 billion) to build a new biomedicine production complex west of Seoul. Samsung Biologics CEO John Rim said in the J.P. Morgan Healthcare Conference in San Francisco that the new [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korean biopharmaceutical firm Celltrion Inc. said Monday it has signed a contract with Rani Therapeutics, a U.S. bio firm, to cooperate in developing an oral antibody medication. RT-111 is Rani’s project to develop ustekinumab, sold under the name of Stelara by Janssen Pharmaceuticals for the treatment of Crohn’s [...]
SEOUL, Jan. 5 (Korea Bizwire) — Daewoong Pharmaceutical Co., a leading South Korean drugmaker, said Thursday that it has signed a contract with Oncorus Inc., a U.S. biotech company, to cooperate in developing and commercializing messenger RNA (mRNA) drugs for cancer patients. Under the deal, the two companies will conduct joint research on the discovery [...]
SEOUL, Dec. 15 (Korea Bizwire) — The South Korean bioindustry’s output surged more than 20 percent in 2021 from a year earlier on the back of brisk exports amid the coronavirus pandemic, data showed Thursday. The industry’s production came to about 21 trillion won (US$16.2 billion) last year, up 22.1 percent from a year earlier, [...]
SEOUL, Dec. 14 (Korea Bizwire) — SK Biopharmaceuticals Co., a pharmaceutical affiliate of South Korea’s SK Group, said Wednesday it aims to transform into a global health care solutions provider based on the successful rollout of its anti-epilepsy treatment. “SK Biopharm is to become a world-leading health care solutions company that provides comprehensive services to [...]
SEOUL, Dec. 7 (Korea Bizwire) — South Korea will funnel 400 billion won (US$304.5 million) into research and development next year to foster the digital transformation in the bio technology sector as part of the country’s long-term future growth plan, the science ministry said Wednesday. The Ministry of Science and ICT released its latest digital-biotech [...]