pharmaceutical Archives | Be Korea-savvy
Major Pharmaceuticals to Expand R&D Spending in 2017

Major Pharmaceuticals to Expand R&D Spending in 2017

SEOUL, March 21 (Korea Bizwire) – Major South Korean pharmaceutical companies are poised to expand their spending on research and development (R&D) this year despite weak earnings, industry sources said Tuesday.  The four drug companies — Hanmi Pharmaceutical Co., Green Cross Corp., Daewoong Pharma and Chong Kun Dang Pharmaceutical Corp. — whose annual R&D spending [...]

Global Drugmakers Seek to Join Hands with Startups

Global Drugmakers Seek to Join Hands with Startups

SEOUL, March 13 (Korea Bizwire) – Global pharmaceutical companies are seeking to join hands with local startups as part of their effort to increase research and development (R&D) productivity, industry officials said Monday.  The move is part of their effort to adopt “open innovation,” a network of collaboration with external institutes and individuals, as opposed [...]

Annual R&D Spending Tops 100 Bln Won at 4 Korean Drug Firms

Annual R&D Spending Tops 100 Bln Won at 4 Korean Drug Firms

SEOUL, Feb. 14 (Korea Bizwire) – Four major South Korean pharmaceutical companies spent more than 100 billion won (US$86.9 million) each on research and development (R&D) in 2016, industry officials said Tuesday.  The four drug companies — Hanmi Pharmaceutical Co., Green Cross Corp., Daewoong Pharma and Chong Kun Dang Pharmaceutical Corp. — sharply expanded their [...]

Daewoong Pharmaceutical Tops List of Approvals for Clinical Trials

Daewoong Pharmaceutical Tops List of Approvals for Clinical Trials

SEOUL, Feb. 7 (Korea Bizwire) – Daewoong Pharmaceutical Co., a major South Korean drugmaker, has topped the list in winning approvals from the drug regulatory agency for clinical trials, industry officials said Tuesday.  Daewoong Pharmaceutical received approvals from the Ministry of Food and Drug Safety for 16 clinical trials in 2016, compared with seven a [...]

Celltrion to Expand Presence in U.S. With FDA’s New Guidance

Celltrion to Expand Presence in U.S. With FDA’s New Guidance

SEOUL, Jan 19 (Korea Bizwire) – The U.S. Food and Drug Administration (FDA) has released its draft guidance on biosimilar interchangeability, a move that will allow South Korean bio-pharmaceutical firm Celltrion Inc. to increase its presence in the U.S. market, company officials said Thursday.  The FDA unveiled the guidance Tuesday (local time) that recommends that [...]

Local Pharmaceutical Companies Fall Behind Foreign Rivals

Local Pharmaceutical Companies Fall Behind Foreign Rivals

SEOUL, Jan. 9 (Korea Bizwire) – Only one South Korean pharmaceutical company had a new drug approved in 2016, compared to 11 drugs introduced by overseas companies including Novartis, Gilead Sciences, and Pfizer. Olita Tablet, a lung cancer drug from Hanmi Pharmaceutical, was the only new drug introduced last year by a local company, and [...]

Doctors, Pharmacists Debate “Brand Name or Drug Composition” Prescriptions

Doctors, Pharmacists Debate “Brand Name or Drug Composition” Prescriptions

SEOUL, Dec. 27 (Korea Bizwire) – Korean doctors and pharmacists have long clashed over whether to prescribe medicine based on the name of a brand or a drug’s composition. The debate dates back to 2000, when the Korean government first separated the prescription and dispensing of drugs between the two medical practitioners.  Currently, prescriptions almost [...]

S. Korean Pharmaceutical Goods Draw Popularity in N.K. Farmers’ Markets

S. Korean Pharmaceutical Goods Draw Popularity in N.K. Farmers’ Markets

SEOUL, Dec. 12 (Korea Bizwire) – South Korean-made pharmaceutical products remain widely popular in “Jangmadang,” or North Korea’s unofficial provincial markets, even though the distribution of goods from the South is under strict control in the communist state, a U.S.-based broadcaster said Monday.  A source in the North’s North Hamkyong Province told Radio Free Asia [...]