SEOUL, June 18 (Korea Bizwire) — South Korea’s state-run trade promotion agency said Wednesday it is operating a Korean pavilion at a major U.S. biotech exhibition this week, highlighting the country’s bio and pharmaceutical technology. The pavilion, run by the Korea Trade-Investment Promotion Agency (KOTRA), features 58 companies in cooperation with five local industrial associations, [...]
SEOUL, June 18 (Korea Bizwire) — A string of clinical trial failures is putting severe financial strain on South Korea’s biotech sector, forcing some drug development firms into liquidation or restructuring as investor confidence continues to erode. On Tuesday, industry sources confirmed that OsteoNeuroGen, a pharmaceutical startup focused on treatments for idiopathic pulmonary fibrosis, will [...]
SEOUL, June 4 (Korea Bizwire) — South Korea’s exports of pharmaceutical products reached an all-time high in the first quarter thanks to strong demand for Korean medicines in the European market, data showed Wednesday. Outbound shipments of pharmaceuticals came to a quarterly high of US$2.56 billion in the January-March period, up 17.7 percent from a [...]
SEOUL, June 3 (Korea Bizwire) — South Korea’s leading pharmaceutical and biotech companies are increasingly shifting toward direct sales operations in overseas markets, betting that bypassing local distributors will yield greater long-term profits and stronger control over pricing and marketing. Industry leader Celltrion has recently expanded its direct sales footprint in Europe, transitioning its Spanish operations [...]
SEOUL, May 31 (Korea Bizwire) — The global gene therapy market is projected to soar to $36.6 billion (approximately 50 trillion won) by 2032, growing at a compound annual rate of 19.4%, according to a report released by the Korea Biotechnology Industry Organization on Thursday. Citing research from U.S. market analysis firm MarketsandMarkets, the report [...]
SEOUL, May 28 (Korea Bizwire) — Acting Finance Minister Kim Beom-suk said Wednesday the government will mobilize all available resources to foster the bio industry as a new engine for South Korea’s economic development. Kim made the remarks during his opening speech at a policy forum held in Seoul, which brought together industry representatives and [...]
![[UPDATE] Samsung Biologics to Spin Off Bioepis Unit to Focus on CDMO Business](http://koreabizwire.com/wp/wp-content/uploads/2025/05/This-photo-provided-by-Samsung-Biologics-Co.-shows-the-companys-production-plant-in-Songdo-west-of-Seoul.-PHOTO-NOT-FOR-SALE-Yonhap.jpg "[UPDATE] Samsung Biologics to Spin Off Bioepis Unit to Focus on CDMO Business")
SEOUL, May 22 (Korea Bizwire) — Samsung Biologics Co., a biotech arm of South Korea’s Samsung Group, said Thursday it plans to spin off its biosimilar development business to streamline its operations and focus on its core contract development and manufacturing organization (CDMO) services. According to a regulatory filing, the company will establish a new [...]
SEOUL, May 22 (Korea Bizwire) — Samsung Biologics Co., a biotech arm of South Korea’s Samsung Group, said Thursday it plans to spin off its biosimilar development business to streamline its operations and focus on its core contract development and manufacturing organization (CDMO) services. According to a regulatory filing, the company will establish a new [...]
SEOUL, May 21 (Korea Bizwire) — Celltrion Inc., a leading South Korean biopharmaceutical company, said Wednesday it expects limited impact from recent U.S. policy developments stemming from a drug pricing executive order signed by President Donald Trump. Last week, Trump announced an executive order introducing a most-favored nation (MFN) pricing model, intended to align U.S. [...]
SEOUL, May 21 (Korea Bizwire) — SK bioscience Co., a biotech arm of South Korea’s SK Group, said Wednesday it has won a patent lawsuit against global pharmaceutical giant Pfizer Inc. over pneumococcal vaccine components. In 2020, Pfizer filed a lawsuit with a Korean court, claiming that SK bioscience’s export of 13-valent pneumococcal conjugate vaccine [...]