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, [...]
SEOUL, Feb. 24 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Monday its new biosimilar for an autoimmune disease treatment has obtained approval from the European Commission (EC). The EC approved Celltrion’s Avtozma, a biosimilar to Actemra, in both intravenous and subcutaneous formulations, for sales in the member countries of the [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korean pharmaceutical and biotech companies are scrambling to prepare for potential new tariffs threatened by American President Donald Trump on foreign-made drugs entering the U.S. market. Celltrion, a major South Korean biopharmaceutical company, announced on its website on February 19 that it has established an “optimal response system” to [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s pharmaceutical and biotech sector has kicked off 2024 with a flurry of merger and acquisition activity, as companies move to strengthen their market positions and diversify their portfolios. GC Wellbeing, a subsidiary of GC Group, recently acquired Inibio, a developer of botox products, in a move to expand [...]
SEOUL, Feb. 6 (Korea Bizwire) – Second Vice Foreign Minister Kang In-sun has discussed ways to deepen cooperation in the critical minerals sector in talks with senior government officials of Tanzania, South Africa and Zimbabwe, Seoul’s foreign ministry said Thursday. The talks took place Wednesday (local time) on the margins of a key mining event [...]
SEOUL, Feb. 6 (Korea Bizwire) — Scientists have discovered that seaweed extracts may help suppress and alleviate inflammation caused by fine dust particles, according to an announcement from Wando County, South Jeolla Province, on February 5. The research, conducted jointly by the Marine Bio Research Center, Jeonbuk National University, and Sunchon National University, focused on identifying [...]
SEOUL, Feb. 6 (Korea Bizwire) — A new study has demonstrated the safety and effectiveness of robot-assisted gait training for patients recovering from spinal surgery, with participants showing an average 39% improvement in their ability to perform daily activities, researchers from Gangnam Severance Hospital announced on February 5. The research team, led by Park Jung-hyun of [...]