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 [...]
SEOUL, March 13 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Thursday it has launched its biosimilar product for Stelara, an autoimmune disease treatment, in the United States. Steqeyma, a treatment for plaque psoriasis, Crohn’s disease, active psoriatic arthritis and ulcerative colitis, is Celltrion’s seventh biosimilar product that has hit the [...]
SEOUL, March 10 (Korea Bizwire) — South Korea’s biotech, pharmaceutical, and healthcare companies are ramping up efforts to address the country’s low birth rate by introducing expanded family-friendly policies, including enhanced parental leave, financial incentives for childbirth, and workplace childcare support. According to industry sources on Sunday, Kakao Healthcare has begun offering free continuous glucose [...]
SEOUL, March 10 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Monday its biosimilar for asthma and other chronic allergic diseases has obtained approval for U.S. sales. The U.S. Food and Drug Administration (FDA) approved Celltrion’s Omlyclo, a biosimilar drug to Xolair, for treatment of moderate to severe persistent asthma, chronic [...]
SEOUL, March 5 (Korea Bizwire) — The government announced Wednesday its plan to create a 50 trillion-won (US$34.4 billion) fund to support the semiconductor, rechargeable battery, bio, artificial intelligence (AI) and other advanced industries as part of efforts to bolster South Korea’s industrial competitiveness. The plan was endorsed at a weekly meeting of economy-related ministers, [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korean pharmaceutical and biotech companies are rapidly expanding their presence in the Middle Eastern market, capitalizing on the region’s growing healthcare demands and high-income population. Daewoong Pharmaceutical recently launched its botulinum toxin product, Nabota, in Saudi Arabia, a market known for its stringent entry barriers for such products. The company [...]
SEOUL, Feb. 26 (Korea Bizwire) — Acting President Choi Sang-mok on Wednesday reaffirmed the government’s commitment to turning South Korea into one of the world’s top five leaders in the advanced bio sector, stressing the emerging sector is comparable in size to major industries combined. “The global advanced bio industry was valued at US$2 trillion, [...]