LG Life Sciences to commercialize Humira biosimilar by 2018

LG Life Sciences on Tuesday said that it has begun phase III clinical trials for its new Humira biosimilar under development in South Korea, with plans to commercialize the drug in Korea and Japan by 2018.　The Korean Ministry of Food and Drug Safety approved the final-stage clinical trials for LBAL, LG’s Humira biosimilar on May 27, prompting the company to begin its trials, said company spokesman Park Jun-hyoung.Developed by U.S. pharmaceutical giant AbbVie, Humira (adalimumab) is the world’s t

May 31, 2016

Samsung Bioepis’ Remicade biosimilar approved in Europe

Samsung Bioepis said Monday that Flixabi, its biosimilar drug referencing Johnson & Johnson’s blockbuster rheumatoid arthritis treatment Remicade, has been approved by the European Medicines Agency.　The EMA has approved Flixabi for the treatment of rheumatoid arthritis, Crohn’s disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis and psoriasis, the company said.Samsung Bioepis' headquarters in Songdo, Incheon (Samsung Bioepis)It is the second Remicade (infliximab) biosimilar

May 30, 2016

Korea sees first biopharma trade surplus in 6 years

South Korea recorded a trade surplus in biopharmaceutical products last year led by a sharp growth in Celltrion’s overseas sales, the Ministry of Food and Drug Safety said Monday.Korea’s biopharmaceutical exports rose 37.4 percent on-year to $892.4 million in 2015, while biopharma imports declined by 15.8 percent on-year to $738.22 million last year, according to the ministry data.(123RF)It marks Korea’s first biopharma trade surplus in six years, with exports exceeding imports by $71.02 million

May 23, 2016

Hanmi’s new lung cancer drug to launch in Korea next month

Hanmi Pharmaceutical will begin selling its next-generation targeted lung cancer therapy HM61713, in South Korea from next month under the name “Olita Tab.,” its vice president and chief medical officer said Friday.The announcement comes a week after the Ministry of Food and Drug Safety approved the drug, also known as Olmutinib, for local sales, allowing it to debut on home turf. The drug’s pricing has yet to be determined.“The approval of Olita Tab. is a great step forward for lung cancer pati

May 20, 2016

Samsung Biologics selects five IPO advisers

Samsung BioLogics on Thursday said it has selected five advisers to lead its initial public offering process on Korea’s main bourse KOSPI.They include a mix of Korean and foreign investment banks including Korea Investment Securities, NH Investment & Securities, Citigroup, J.P. Morgan and Credit Suisse.The Samsung BioLogics headquarters in Songdo, Incheon (Samsung BioLogics)Korea Investment Securities will represent the Korean investment banks while Citi will represent the foreign side, Samsung

May 20, 2016

Green Cross to issue bonds for U.S. expansion

Green Cross Corp., a listed Korean pharmaceutical company, said Thursday that it plans issue three and five-year bonds worth some 100 billion won ($86 million) to finance its expansion overseas.The company’s bond underwriter NH Investment & Securities will evaluate the value of the bonds graded AA minus through a book building process next week. Its bond issues mark the first time for the company to raise funds in the local capital market.“The proceeds will be used for its expansion in the advan

May 12, 2016

Green Cross highlights effectiveness of new hepatitis B treatment

Green Cross, a Korean biopharmaceutical company, said Wednesday it presented the successful clinical trial results of a novel treatment for hepatitis B under development, GC1102, at a medical conference in Seoul last week.　The company highlighted the results of ongoing phase II clinical trials on its new drug at this year’s International Liver Transplantation Society meeting.Green Cross delivers a presentation at a symposium held on May 6 as part of this year’s International Liver Transplantatio

May 11, 2016

Samsung BioLogics to produce affiliate’s biosimilars

Samsung BioLogics is scheduled to begin producing biosimilar drugs developed by its affiliate Samsung Bioepis, as the two have entered a production partnership, the companies said Tuesday.Samsung BioLogics confirmed to The Korea Herald that it has “recently sealed a production partnership with Samsung Bioepis.” It declined to offer further details about the deal, including its size and timing, citing regulatory compliance.The Samsung BioLogics headquarters in Songdo, Incheon (Samsung BioLogics)S

May 3, 2016

Celltrion donates least among top Korean pharma companies

Celltrion has offered the least amount in charitable donations among Korea’s top 10 pharmaceutical companies last year, data showed Sunday.According to its audit report filed with the Financial Supervisory Service, Celltrion donated a total of 18.9 million won ($16,390) last year, equivalent to about 0.003 percent of its revenue of 603.4 billion won.(Yonhap)The data shows Celltrion lagging in the area of corporate social responsibility despite being the most-watched company in the field, followi

April 10, 2016

Samsung Bioepis files lawsuit against AbbVie on Humira patents

South Korean biosimilar developer Samsung Bioepis has filed a lawsuit against the original maker of the world’s top-selling rheumatoid arthritis drug Humira (adalimumab), to make way for the market debut of its Humira biosimilar.　The Samsung Group affiliate and its partner and minority shareholder Biogen filed a suit in the U.K. on Mar. 24 challenging a number of patents held by U.S. pharmaceuticals giant AbbVie on Humira. It is the U.S. firm’s top-valued drug, having generated sales of $14 bill

April 4, 2016

Samsung Bioepis to launch second biosimilar

South Korean drug manufacturer Samsung Bioepis will be launching its second biosimilar product, Renflexis, in Korea at 363,530 won ($315) per box.Its price is about 5 percent cheaper than Remicade -- a product made by Janssen that provided the reference for Renflexi -- but similar to rival Celltrion’s Remsima.Renflexis will hit local markets in June, according to MSD Korea, which is responsible for the marketing and distribution of Renflexis. The drug was approved by the Korean Ministry of Food

April 1, 2016