SEOUL, April 4 (Korea Bizwire) — With patents on a wave of blockbuster drugs set to expire over the next five years, South Korea’s biopharmaceutical industry faces a critical window to capture a share of the rapidly expanding global contract development and manufacturing organization (CDMO) market, projected to be worth tens of trillions of won. [...]
SEOUL, April 4 (Korea Bizwire) — In a scientific breakthrough that could shape the next generation of vaccines and gene therapies, South Korean researchers have, for the first time, uncovered the precise mechanisms by which messenger RNA (mRNA) vaccines operate inside human cells. The discovery, published this week in the journal Science, comes from a team [...]
SEOUL, March 31 (Korea Bizwire) — South Korean pharmaceutical and biotech companies that surpassed 1 trillion won in annual revenue showed stark differences in operating efficiency, with employee productivity varying by as much as 19 times among industry leaders. According to industry data released March 30, nine companies joined the “trillion-won club” in 2024: Samsung Biologics, [...]
SEOUL, March 24 (Korea Bizwire) — Samsung E&A Co. said Monday it has secured a 518.6 billion-won (US$354.2 million) contract to build a biopharmaceutical raw material production and research facility in Songdo, west of Seoul, for Sartorius AG of Germany. The plant will be constructed for Sartorius Korea, the South Korean unit of the German [...]
SEOUL, March 24 (Korea Bizwire) — South Korean health authorities have reported a striking 140% increase in attention deficit hyperactivity disorder (ADHD) medication prescriptions over the past four years, while prescriptions for appetite suppressants continued their steady decline. According to data released by the Ministry of Food and Drug Safety, approximately 338,000 individuals received prescriptions for methylphenidate, [...]
SEOUL, March 20 (Korea Bizwire) – Pharmaceutical and biotech companies in South Korea are intensifying their efforts to diversify business operations, seeking to improve profitability and strengthen competitiveness by securing future growth engines. According to industry sources, ENCell, a company specializing in new drug development, plans to add artificial intelligence software development and services to its [...]
SEOUL, March 19 (Korea Bizwire) — South Korea can play a key role in the “100 days mission” for vaccine development for emerging infectious diseases, the chief executive of the Coalition for Epidemic Preparedness Innovations (CEPI) has said, calling Seoul a “global leader” in pandemic response. CEPI CEO Richard Hatchett made the remarks in an [...]
SEOUL, March 18 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Tuesday it aims to achieve 5 trillion won (US$3.46 billion) in sales this year, helped by an expanded biosimilar lineup. The annual target is 40.5 percent higher than the record high of 3.56 trillion won it posted last year. The [...]
SEOUL, March 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday the accumulated sales of its own diabetes drug have exceeded 1 trillion won (US$688 million) in the domestic market. LG Chem sold a cumulative 1.066 trillion won worth of the Zemiglo diabetes lineup, composed of Zemiglo, Zemimet, Zemidapa and [...]
SEOUL, March 17 (Korea Bizwire) — Major South Korean pharmaceutical and biotech companies are rapidly expanding their Contract Development and Manufacturing Organization (CDMO) facilities to meet growing global demand and strengthen their production capabilities for new business ventures. Samsung Biologics is preparing to complete its Plant 5 next month while simultaneously pushing forward with plans for Plant [...]