Bukwang Pharmaceutical attains license to sell Denmark’s anti-cancer drug

[THE INVESTOR] Bukwang Pharmaceutical ’s subsidiary Dyna Therapeutics has clinched a deal with Denmark’s Solural Pharma for its new anti-cancer drug, the company said on June 30. Solural PharmaDyna Therapeutic attained the exclusive rights to develop and sell SOL-804, which is used for the treatment of castration-resistant prostate cancer, around the world. “Bukwang is continuously pursuing to develop new medicine and the establishment of Dyna is part of that effort,” an official of the company

June 30, 2016

Pharma firms post 0.2% ROE increase in Q1

[THE INVESTOR] Local pharmaceutical companies showed a less than 1 percent increase in their return-on-equity ratio in the first quarter of this year, data showed on June 30. The ratio -- a measure of corporate profitability -- of 80 public pharmaceutical companies rose just 0.2 percent on-year to 1.9 percent, according to Pharmscore, a provider of analysis on health and medical industry. Shareholders’ equity of the 80 firms stood at 15.059 trillion won (US$13 billion), up 1.89 trillion won from

June 30, 2016

Medipost gets US patent for cartilage treatment technology

[THE INVESTOR] Korean pharmaceutical firm Medipost has been granted a US patent for its cell therapeutic technology used in its osteoarthritis treatment solution Cartistem, the company’s spokesperson said on June 29. The mechanism alleviates knee cartilage pains with mesenchymal stem cells extracted from allogeneic umbilical cord blood. Medipost's osteoarthritis treatment solution CartistemMedipost already holds US patents for its two other cell-based technologies that act as bases for treatment

June 30, 2016

Korean pharma exports hit 5-year high

[THE INVESTOR] Exports by Korean pharmaceutical companies grew by 22 percent in 2015 from 2014, the highest on-year increase in five years. The export of pharma products in 2015 logged US$ 2.94 billion, as against the previous year’s US$ 2.41 billion, according to the data by the Ministry of Food and Drug Safety released on June 29. Medicine exports have increased at an annual rate of 14 percent since 2011 when it posted US$ 1.77 billion. Broken down by countries, South Korea exported the most m

June 29, 2016

Brexit raises uncertainty for Korean pharma firms

[THE INVESTOR] In wake of Britain’s decision to leave the European Union, some Korean pharmaceutical companies are concerned about the fallout that will affect their business in Europe. Some industry officials said the Brexit’s impact on Korean pharma companies will not be as severe as they already have a large domestic market. However, for some companies that have already entered Europe or are waiting to do so, including Celltrion and Samsung Bioepis, it can take some toll on them. Both Celltri

June 29, 2016

ViroMed initiates Phase 3 clinical study on diabetic neuropathy treatment

[THE INVESTOR] ViroMed, a Korean biotechnology firm, said on June 28 that it has started the Phase 3 clinical trials of VM202, a proprietary DNA based biopharmaceutical, for patients with painful diabetic peripheral neuropathy. According to the company, it is the first pivotal gene therapy trial specifically targeting the most common cause of severe neuropathy, and follows the successful completion of a Phase 2 trial conducted at Northwestern University and multinational sites in the US and Kore

June 28, 2016

USFDA grants Kyongbo Pharm facility approval

[THE INVESTOR] Korean pharmaceutical giant Chong Kun Dang’s raw materials manufacturer Kyongbo Pharmaceutical has got approval from the US Food and Drug Administration for its sterile GMP facility, its chief executive said June 27. CEO Kang Tae-won said the approval was granted to Kyongbo after the company applied for USFDA’s facility clearance evaluation for ceftriaxone, a core ingredient in producing antibiotics for pneumonia and bronchitis, last February. The raw material has already entered

June 27, 2016

Shareholders OK Ildong’s revamp plan

[THE INVESTOR] Shareholders of Ildong Pharmaceutical agreed on June 24 to transform the firm into a holding company with four entities under its wing.In its second attempt to become a holding firm, the Korean drug maker successfully gained approval to spin-off its four units as new entities, aiming to boost transparency of it corporate governance structure and stabilize management rights.“Through the spin-off, we will efficiently allocate resources business sectors and promote business activitie

June 24, 2016

Cell Biotech renews halal certificate

[THE INVESTOR] Korean pharma company Cell Biotech renewed its halal certification for probiotic products from the Korea Muslim Federation, the company said on June 24. The company has received the approval for 13 years in a row since 2004.  Cell Biotech“Through the halal certificate, we have been able to import probiotics products to Southeast Asia’s largest Muslim country Indonesia and also Malaysia and Singapore,” a company official said. “From 2000, we have also passed kosher certification.”B

June 24, 2016

Korean biotech, pharma firms’ license deals top $500m in H1

[THE INVESTOR] Licensing deals struck by South Korean biotech and pharmaceutical firms surpassed the US$500 million mark in the first half of the year, according to industry sources on June 23. A total of six biotech and pharmaceutical firms including industry heavyweight Chong Kun Dang Pharmaceutical clinched a total of seven out-licensing deals with foreign companies in the January-June period, with the value of the six deals estimated at $525 million.The amount, however, was smaller than the

June 23, 2016

Merck to establish nonprofit company for charitable work

[THE INVESTOR] Global pharmaceutical and chemical enterprise Merck will establish a nonprofit company, the Merck Family Foundation, to expand its charitable work, the Germany-based company said on June 20. The Merck Family Foundation will conduct charitable work such as promoting public health care and education, providing emergency aid in a community. To be involved in international development cooperation as a further goal, the global pharmaceutical company is also working out research project

June 20, 2016

Green Cross seals record drug supply deal in Brazil

[THE INVESTOR] South Korea’s leading plasma-derived drugmaker Green Cross said Friday that it has secured a record-scale export deal to supply its flagship immunodeficiency drug IVIG-SN to Brazil. The Korean drugmaker is slated to supply $25.7 million worth of IVIG-SN — human normal immunoblobulin G for intravenous administration — to Brazil starting from July until March of next year, the company said. IVIG-SN Green CrossIt marks the largest single order of IVIG-SN secured by the company since

June 17, 2016

Celltrion applies for clinical trials for Remsima SC

[THE INVESTOR] Celltrion Inc. announced on June 16 that it has applied for a permit to carry out human clinical tests for Remsima SC.Celltrion is an Incheon-based biotechnology firm headed by Seo Jung-jin. Remsima SC is a new line of the autoimmune disease treatment Remsima. Unlike Remsima that requires intravenous injection, Remsima SC can be administered by the patient through subcutaneous injection, the company said. Remsima is a biosimilar based on Remicade developed by Jansen Global Service

June 16, 2016

Green Cross LabCell’s IPO price set at 18,500 won

[THE INVESTOR] Green Cross LabCell Corp. – a Green Cross affiliate that develops drugs for fighting incurable diseases – has officially priced its initial public offering at 18,500 won ($15.70), which is higher than previously indicated ranges, the company said on June 13.Green Cross LabCell will raise 37 billion won with the IPO. The market capitalization of the firm is expected to reach around 195.2 billion won.Its shares will be listed on the tech-heavy Kosdaq index on June 23.The firm, which

June 14, 2016

Hanmi Science acquires medication management firm JVM

[THE INVESTOR] Hanmi Science, the holding company of South Korea’s Hanmi Pharmaceutical, said Thursday that it has acquired local medication management automation company JVM Co. under a stock swap agreement.　Hanmi Science acquired a 30 percent stake in JVM by purchasing 1.89 million JVM shares for 129 billion won ($112 million) -- 20 percent of which was paid in cash and the remaining 80 percent through Hanmi Science shares.Hanmi Science (Yonhap)“Through the merger, we expect great synergies be

June 9, 2016