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 [...]
SEOUL, Mar. 13 (Korea Bizwire) — Lunit Inc., a South Korean medical artificial intelligence (AI) startup, said Wednesday it has secured preliminary approval from a New Zealand high court for the acquisition of an Oceania-based breast cancer solution firm, Volpara Health Ltd. With the high court’s approval, Volpara Health will hold a general shareholders’ meeting [...]
SEOUL, Feb. 29 (Korea Bizwire) – Amid a worldwide shake-up of industrial sectors, Korean firms are experiencing a range of emotions about the future of their key operations, feelings that vary widely depending on the size of the business and the industry it belongs to. A recent survey conducted by the Korea Chamber of Commerce and [...]
SEOUL, Feb. 11 (Korea Bizwire) –The pharmaceutical sector is making a strategic shift towards character marketing, breaking away from its traditionally rigid image to appeal to a broader demographic, including the younger generation. Historically, character marketing in the pharmaceutical industry was primarily limited to children’s medications. However, recent trends indicate an expansion towards engaging younger [...]
SEOUL, Feb. 9 (Korea Bizwire) –The Korea Exchange announced on February 8 that it will list Samsung Asset Management’s KODEX Global Obesity Treatment TOP2 Plus Exchange Traded Fund (ETF) on the stock market on February 14. This fund marks the first obesity treatment-themed product in South Korea, investing in 10 global companies related to obesity [...]
SEOUL, Jan. 31 (Korea Bizwire) –Samsung Biologics has disclosed that the total compensation package for its employees, including wages and benefits, can reach up to 100 million KRW annually for first-year employees. On January 31, it was revealed that Samsung Biologics had shared a “Total Compensation Statement” with its employees for the first time, detailing [...]