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 [...]
SEOUL, May 21 (Korea Bizwire) — The U.S. Food and Drug Administration (FDA) is currently conducting an on-site inspection of Samsung Biologics Co.’s production facilities in South Korea, industry sources said Wednesday. According to the sources, the FDA launched the inspection at the company’s facilities in Songdo, west of Seoul, and is scheduled to continue [...]
INCHEON, May 17 (Korea Bizwire) — South Korea has begun construction on a state-funded facility dedicated to advancing animal-free toxicity testing methods, a move that signals the country’s commitment to ethical science, chemical safety, and animal welfare. The Ministry of Environment held a groundbreaking ceremony Thursday at the Korea Environment Corporation headquarters in Seo-gu, Incheon, to [...]
SEOUL, May 15 (Korea Bizwire) – The government held a consultative meeting with private sector stakeholders Thursday to promote the use of artificial intelligence (AI) in drug development in response to the intensifying global competition in the bio-health sector. The meeting brought together officials from the Ministry of Economy and Finance and other relevant government [...]
SEOUL, May 15 (Korea Bizwire) — Celltrion Inc., a leading South Korean biopharmaceutical company, said Thursday its business will remain largely unaffected by U.S. President Donald Trump’s executive order aimed at lowering drug prices to match those in other countries. The order seeks to address a drug pricing system in which the United States pays [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s pharmaceutical and biotech companies view the Trump administration’s push to lower U.S. prescription drug prices as a potential tailwind for domestic drugmakers, particularly those in the biosimilar space. Former President Donald Trump, who is expected to run again in the 2026 election, issued an executive order last week [...]