SEOUL, May 8 (Korea Bizwire) — Pharmaceutical and biotech companies in South Korea are teaming up to develop new drugs using artificial intelligence (AI). During the drug development process, AI can predict whether a chemical compound is suitable for human use, thereby speeding up the identification of potential substances and enabling the selection of appropriate [...]
SEOUL, May 7 (Korea Bizwire) — Samsung Electronics Executive Chairman Lee Jae-yong has recently met with leaders of global pharmaceutical companies in the United States, the company said Sunday, in line with its efforts to find new growth engines beyond semiconductors. Lee held the series of meetings with CEOs from five major companies: Joaquin Duato [...]
SEOUL, May 3 (Korea Bizwire) — Global pharmaceutical company Merck Life Science is considering building manufacturing facilities in South Korea’s central city of Daejeon, the industry ministry said Wednesday. Merck signed a memorandum of understanding with the Ministry of Trade, Industry and Energy and the Daejeon city government earlier in the day on its potential [...]
SEOUL, April 28 (Korea Bizwire) — SK Bioscience Co., a pharmaceutical affiliate under SK Group, said Friday it will invest 2.4 trillion won (US$1.79 billion) by 2028 as it is seeking to further expand its contract manufacturing business. The proposed investment — twice the amount the company had spent in the past five years — [...]
SEOUL, April 18 (Korea Bizwire) — Lotte Biologics Co., a pharmaceutical unit under the South Korean retail giant Lotte Group, said Tuesday it will invest US$48 million into its recently acquired U.S. plant to upgrade and boost its production capacity. The Korean company purchased the factory from global biopharmaceutical company Bristol Myers Squibb in Syracuse, [...]
SEOUL, April 14 (Korea Bizwire) —Korea ranked fifth in the world for the number of clinical trials conducted by pharmaceutical companies in 2021, according to the Ministry of Food and Drug Safety and the Korea Clinical Trials Support Foundation. The United States was in first place, followed by China, Spain, and Germany. Seoul ranked first [...]
SEOUL, April 11 (Korea Bizwire) — CJ Wellcare Corp. said Tuesday it will begin selling its products on Amazon this week in a bid to expand its health supplement business in the United States. The health functional food making affiliate of CJ Group said its 10 products will be made available on the U.S. e-commerce [...]
SEOUL, March 14 (Korea Bizwire) — LG Chem Ltd., a leading South Korean chemicals manufacturer, said Tuesday it has signed a contract to supply the United Nations Children’s Fund (UNICEF) with polio and pentavalent vaccines for infants and children. Under the deal, LG Chem will provide US$200 million worth of the vaccines: $100 million worth [...]
SEOUL, March 8 (Korea Bizwire) — South Korean obesity clinic 365mc Hospital said Tuesday it has signed a joint venture agreement with Indonesia’s Mayapada Group to establish and operate a medical clinic in the Southeast Asian country. Under the terms of the contract, the two parties will open the 365mc Indonesia Clinic within the Mayapada [...]
SEOUL, March 3 (Korea Bizwire) — Bodyfriend Inc., a South Korean massage chair maker has inked a deal with a Russian household appliances company to sell its latest massage chairs in Russia, the company said Friday. Bodyfriend agreed to sell its Davinci massage chairs to a major Russian household appliance maker and retailer operating around [...]