SEOUL, Jun. 10 (Korea Bizwire) – The burgeoning market for organoids – miniature, simplified versions of organs produced in vitro for research purposes – is spurring interest in regenerative therapies derived from these three-dimensional structures. According to a recent report from the National Institute of Food and Drug Safety Evaluation, the global organoid market is projected [...]
SEOUL, Jun. 8 (Korea Bizwire) –As the United States Congress deliberates the Biosecure Act, which would prohibit federal agencies from dealing with certain Chinese biotech companies, South Korean pharmaceutical contract development and manufacturing organizations (CDMOs) are seizing the chance to attract new clients. The proposed legislation, which has reached the House floor for a full [...]
SEOUL, Jun. 6 (Korea Bizwire) –Domestic pharmaceutical firms in South Korea are increasingly joining forces with former competitors to develop new drugs, marking a shift in strategy. While co-marketing existing products or outsourcing manufacturing has been common practice, collaborations now extend to the realm of novel drug development. Last month, Ildong Pharmaceutical secured Dong-A Socio [...]
SAN DIEGO, Jun. 4 (Korea Bizwire) – Samsung Biologics, a leading biopharmaceutical company, has unveiled a new platform and customized brand to strengthen its contract development and manufacturing organization (CDMO) capabilities in the biotech drug development arena. At the 2024 BIO International Convention in San Diego, the company introduced its new CDMO platform, S-Tensify, designed to [...]
SEOUL, Jun. 4 (Korea Bizwire) – Pharmaceutical and biotechnology companies at home and abroad are striving to recreate the value of their products by expanding the therapeutic areas they can be used for, known as new indications. In March, the U.S. Food and Drug Administration approved the obesity drug Wegovy, made by the Danish company Novo [...]
SEOUL, May 30 (Korea Bizwire) — South Korea held a virtual meeting with the United States on Thursday to enhance mutual understanding of their respective telemedicine industries and explore areas of cooperation, officials said. The session with some 30 companies from both countries followed up on the South Korea-U.S. Supply Chain and Commercial Dialogue (SCCD) [...]
SEOUL, May 29 (Korea Bizwire) — Germany-based biotech giant Merck KGaA held a groundbreaking ceremony to build a new production line in the central city of Daejeon with a budget of 430 billion won, the industry ministry said Wednesday. The event came around a year after the biotechnology company signed a memorandum of understanding with [...]
SEOUL, May 28 (Korea Bizwire) – A growing number of pharmaceutical and biotech companies are looking to radioactive drugs as a new growth driver, useful for both diagnosing and treating cancer. Radioactive drugs combine a radioactive isotope that emits radiation with a chemical compound designed to target specific cancer cells. This unique combination allows these drugs [...]
SEOUL, May 16 (Korea Bizwire) – With the ranks of pet owners swelling in South Korea, pharmaceutical companies are increasingly turning to this burgeoning market as a new frontier for growth, rolling out a diverse array of products ranging from medications to health supplements for furry companions. According to industry sources on May 14, Dong-A Pharmaceutical [...]
SEOUL, May 8 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its medical equipment unit Samsung Medison Co. has acquired the French artificial intelligence medtech startup Sonio, as part of its effort to expand its AI-powered health care solution business. Samsung Medison entered into a share purchase agreement to acquire Sonio, which specializes in AI [...]