SEOUL, Aug. 8 (Korea Bizwire) – Samsung BioLogics Co., a biosimilar firm affiliated with Samsung Group, will apply for preliminary approval this week for its initial public offering (IPO), estimated at around 3 trillion won (US$2.68 billion), South Korea’s bourse said Monday. The firm, one of the world’s largest manufacturers of biosimilar medicine, plans to [...]
SEOUL, Aug. 1 (Korea Bizwire) – The American dollar has regained some strength in the second quarter, and according to industry analysts, companies producing chemicals and raw materials for the pharmaceutical industry were among those who reaped the most benefits from the dollar’s appreciation. Korea is a heavily export-reliant country with over 50 percent of [...]
SEOUL, July 22 (Korea Bizwire) – Despite the blazing hot weather, pharmaceutical companies are gearing up to compete in the market for flu vaccines for the winter season, particularly tetravalent flu vaccines that are expected to hit the market this year. Tetravalent flu vaccines, which mark the next development step after trivalent flu vaccines, provide protection against [...]
SEOUL, July 20 (Korea Bizwire) – ‘Open innovation’ refers to a company’s innovative means to develop a new product or service by sharing and accepting new knowledge and ideas from other companies or start-ups that have developed groundbreaking technology. The practice is becoming increasingly common in the Korean pharmaceutical and biotechnology industries. In the past, innovations were [...]
SEOUL, June 22 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning revealed Tuesday that a team of scientists from the Korea Institute of Radiological & Medical Sciences led by Dr. Park Ji-ae, had developed a radiopharmaceutical called Zr-89 Oxalate, which selectively shows internal inflammation. It is often difficult to distinguish tumors from [...]
SEOUL, May 24 (Korea Bizwire) – Recent anticipation predicts that Korea’s biosimilar market will grow to a 150-billion-won industry by 2019. According to the Korea Pharmaceutical Manufacturers Association (KPMA), the industry, which was valued at 80 billion won in 2013, will grow to a 150 billion won market by 2019. The government’s active policy towards biosimilars, [...]
SEOUL, May 11 (Korea Bizwire) – Korean pharmaceutical and biotech companies are rushing to conduct Phase I clinical trials. Phase 1 trials are the first step in human testing of new drugs, and they’re the first step in new drug development. According to the Ministry of Food and Drug Safety, a total of 64 Phase [...]
SEOUL, Feb. 3 (Korea Bizwire) – To help Korean pharmaceutical companies advance globally, and strengthen their competitiveness, the Ministry of Health and Welfare officially announced on February 2 the start of the second phase of the Global Pharmaceutical Industry Development Fund worth 135 billion won (US$123 million). The first such fund was launched in 2013 [...]
SEOUL, Oct. 3 (Korea Bizwire) — Green Cross, a South Korean biopharmaceutical company, seems to surpass industry’s expectations in the global pharmaceutical market. The Seoul-based pharmaceutical company accelerates export of its not only medicines including vaccines and plasma-derivatives but also pharmaceutical plants to other countries. The volume of medicine exports accounted for 151.7 billion won, [...]