SEOUL, Jan. 13 (Korea Bizwire) — Major South Korean pharmaceutical companies are ramping up the phase-three clinical trials of their key products in China as they seek to tap deeper into the world’s second largest bio market. Samsung Bioepis Co. said it is awaiting approval from Chinese health authorities for the final stage of clinical [...]
SEOUL, Jan. 14 (Korea Bizwire) — According to the pharmaceutical industry on January 13, major South Korean biopharmaceutical companies including Yuhan Corp. and LG Chem Ltd. are building a foothold in Boston. The plan is to use city, the world’s largest bio-cluster, as a base for open innovation. Yuhan has already established a legal entity [...]
SEOUL, April 10 (Korea Bizwire) – South Korea’s health authorities are considering a suspension of health insurance reimbursement for imatinib, a highly effective leukemia drug sold under the brand name of Gleevec (or Glivec), after its maker Novartis was found to have provided illegal kickbacks to doctors. The Swiss multinational pharmaceutical company was investigated by prosecutors [...]
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 [...]
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 [...]
SEOUL, Feb. 27 (Korea Bizwire) – Young owner members of major South Korean pharmaceutical manufacturers, such as sons and grandsons of company founders, are on the fast track to management positions, industry sources said Monday. Lim Jong-hoon, third son of Hanmi Pharmaceutical Chairman Lim Sung-ki, is set to be registered as a member of the [...]
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 [...]
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 [...]
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 [...]
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 [...]