SEOUL, Jun. 4 (Korea Bizwire) – Pharmaceutical and biotechnology companies at home and abroad are striving to recreate the value of their products by expanding the therapeutic areas they can be used for, known as new indications. In March, the U.S. Food and Drug Administration approved the obesity drug Wegovy, made by the Danish company Novo [...]
SEOUL, May 30 (Korea Bizwire) — South Korea held a virtual meeting with the United States on Thursday to enhance mutual understanding of their respective telemedicine industries and explore areas of cooperation, officials said. The session with some 30 companies from both countries followed up on the South Korea-U.S. Supply Chain and Commercial Dialogue (SCCD) [...]
SEOUL, May 29 (Korea Bizwire) — Germany-based biotech giant Merck KGaA held a groundbreaking ceremony to build a new production line in the central city of Daejeon with a budget of 430 billion won, the industry ministry said Wednesday. The event came around a year after the biotechnology company signed a memorandum of understanding with [...]
SEOUL, May 28 (Korea Bizwire) – A growing number of pharmaceutical and biotech companies are looking to radioactive drugs as a new growth driver, useful for both diagnosing and treating cancer. Radioactive drugs combine a radioactive isotope that emits radiation with a chemical compound designed to target specific cancer cells. This unique combination allows these drugs [...]
SEOUL, May 16 (Korea Bizwire) – With the ranks of pet owners swelling in South Korea, pharmaceutical companies are increasingly turning to this burgeoning market as a new frontier for growth, rolling out a diverse array of products ranging from medications to health supplements for furry companions. According to industry sources on May 14, Dong-A Pharmaceutical [...]
SEOUL, May 8 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its medical equipment unit Samsung Medison Co. has acquired the French artificial intelligence medtech startup Sonio, as part of its effort to expand its AI-powered health care solution business. Samsung Medison entered into a share purchase agreement to acquire Sonio, which specializes in AI [...]
SEOUL, Apr. 30 (Korea Bizwire) – South Korea saw a record number of foreign patients seeking medical care last year as the country’s healthcare institutions aggressively courted overseas visitors after Covid-19 border curbs were lifted. The Ministry of Health and Welfare said on April 29 that 605,768 foreign nationals received treatment at South Korean medical facilities [...]
SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]
SEOUL, Apr. 23 (Korea Bizwire) — Celltrion Inc. saw the combined market share of its autoimmune biosimilar infliximab products, Remsima and Remsima SC, rising in five European nations, company officials said Tuesday. The combined market share of Remsima and the subcutaneous version of the drug hit 74 percent in Britain, Germany, France, Spain and Italy [...]
SEOUL, Apr. 8 (Korea Bizwire) – As South Korea’s economy continues its transition toward a service-based model, a handful of industries like finance, health care and real estate have emerged as consistent drivers of expansion over the past decade, government data has revealed. Statistics Korea reported on April 5 that the nation’s service sector output increased [...]