The drastic fall in duty-free shopping amid the ongoing global pandemic has eroded some 6 billion won ($4.9 million) from aesthetic solution company Hugel’s cosmetics product revenue. Hugel’s first-quarter report, filed Wednesday, showed the company suffered a 16 percent drop in on-year revenue at 41.2 billion won, a 25.1 percent drop in on-year operating profit at 12.3 billion won and a 52.4 percent fall in on-year net profit at 6.6 billion won. In the same period last year, Huge

Industry May 13, 2020

Celltrion announced Wednesday its anti-viral pipelines development for Middle East respiratory syndrome and COVID-19 have been selected as national projects. The Korea Health Industry Development Institute, under the Welfare Ministry, had sought applications for infectious disease prevention and treatment tech projects, intended to encourage research and development of “cold case” treatments. Celltrion now has a total budget of 3.7 billion won ($3 million) for potential MERS trea

Industry May 13, 2020

SK Biopharmaceutical is tapping the 4 trillion won ($3.2 billion) US antiepileptic drug market with Xcopri, the company said Tuesday. Xcopri, the company’s brand of cenobamate tablets, is the product of SK Biopharmaceutical CEO Cho Jeong-woo‘s 15-year research and development drive. The drug is an alternative treatment for adults with partial-onset seizures. “Patients can have different responses to the various seizure medicines that are available. (Xcopri) provides an ad

Industry May 12, 2020

Boryung Pharmaceutical has acquired all rights to Eli Lilly’s anti-cancer drug Gemzar in South Korea, the company said Monday. “We have strengthened our anti-cancer treatment portfolio through Gemzar. With continuing investments, we will grow the anti-cancer department as one of Boryung’s representative business areas,” said CEO Ahn Jae-hyun. Gemzar (gemcitabine) is a nucleoside metabolic inhibitor indicated for pancreatic cancer and, in combination with other drugs, i

Industry May 12, 2020

SK Holdings said Monday it is the lead investor in Singapore-based Hummingbird Bioscience’s $6.5 million Series B extension funding round. Hummingbird Bioscience, founded in 2015 in Singapore by former members of global pharma giant Sanofi, researches for novel antibody drugs. Antibody drugs are immunoproteins that selectively dock on, and attack, malignant proteins that become seeds for tumors and diseases. Hummingbird Bioscience is specially armed with a platform technology called Rat

Industry May 11, 2020

Subcutaneous infliximab injection Remsima SC is towing Celltrion’s revenue in 2020, according to the company, Friday. Despite the COVID-19 scare dampening the global economy, Celltrion said in a regulatory filing that it saw a 68.2 percent on-year revenue growth and 55.4 percent on-year operating profit growth in the first quarter. Celltrion posted 372.8 billion won ($305.4 million) in revenue and 120.2 billion won in operating profit. Remsima SC is a subcutaneously injectable inflixi

Industry May 8, 2020

The COVID-19 pandemic is proving to be a boon for online service providers. Korea’s NHN, for one, posted a 59 percent increase in year-on-year net profit in the first quarter on the back of a strong performance by its online payment solution, Payco, and its online games. According to its regulatory filing on Friday, NHN posted revenue of 394.6 billion won ($323 million), up 6.5 percent on-year; operating profit of 28.3 billion won, up 30.2 percent on-year; and net profit of 17.6 billio

Industry May 8, 2020

LG Chem is still investigating the gas leak in Visakhapatnam, India, that killed at least 11 and sent about 1,000 people to hospitals. “There was no second leak, but we have requested the police to evacuate the local residents in case the temperature within the tanks goes up,” said an LG Chem official, denying media reports suggesting more leaks were happening at the plant and that the number of casualties could grow. “We are currently undertaking necessary measures to cool

Industry May 8, 2020

Subcutaneous rheumatoid arthritis treatment Remsima SC launched in the Netherlands, its third European market, Celltrion Healthcare said Thursday. Remsima SC is an under-the-skin injection of infliximab biosimilar that treats autoimmune diseases. So far, it is approved to treat RA indication, and is still in the process of adding inflammatory bowel disease indication. Celltrion Healthcare said it inked a partnership with the biggest Dutch private health insurance company CZ, who will return

Industry May 7, 2020

“Saturated” is a word often used to describe the Korean botulinum toxin market, which has been dominated by first movers Medytox and Hugel. But the playing field is about to undergo a major shift, as No. 1 player Medytox faces the possible revocation of its license to sell cash cow Meditoxin. Anticipating the potential disappearance of Meditoxin, several players are already out to grab a slice of the pie. Hugel, Daewoong Pharmaceutical, Huons, Chong Kun Dang and more are lining up

Industry May 6, 2020

The Drug Ministry hearing that could potentially revoke the pharmaceutical license for Meditoxin, South Korea’s first botulinum toxin product, was postponed on the day it was scheduled to be held, Monday. The hearing is the pharmaceutical firm’s last chance to express its side of the story before the Drug Ministry makes a decision as to whether to withdraw its approval to manufacture and sell the drug. It would have been a fateful day for Medytox, had it not been for a personal m

Industry May 4, 2020

진행자: 임정요, Kevin Lee Selzer 1. Tensions rise on unconfirmed reports of Kim Jong-un’s death 아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2 팟빵 (안드로이드): http://www.podbbang.com/ch/6638 요약: 검증되지 않은 김정은 사망설 보도 잇따라 [1] With North Korean leader Kim Jong-un missing from public view for two weeks, conflicting, unconfirmed accounts about his health, some even indicating his death or near-death, are raising tensions here. *missing: 실종되다, 흔적을 감추다 *confl

Podcast April 29, 2020

SK Group Chairman Chey Tae-won took to an online video meeting encourage SK Bioscience’s scientists working on a SARS-CoV-2 vaccine, the group said Tuesday. “All this attention directed on the vaccine development may come across as a burden, but don’t let that deter you from making your best efforts,” Chey told the researchers. In order to develop a vaccine, SK Bioscience scientists are travelling to areas with high numbers of confirmed COVID-19 patients. SK Bioscience

Industry April 28, 2020

  The COVID-19 pandemic is for sterilization tech companies an opportunity to showcase what they have to offer. Elstech is a self-sterilizing sheet manufacturer that is seeking new ways to apply its bacteria-eliminating technology. Headed by CEO Roh Man-kyun, a scientific researcher with experience in defense science, Elstech said it has developed oxygen sheets that can sterilize bacteria, virus and fungus, as well as reduce unpleasant odor and ventilate. The company's self-sterilizing s

Industry April 26, 2020

The N Seoul Tower, with its pointy ramrod body and a donut shaped 360-degree observation deck in midriff, is an iconic piece of architecture visible from anywhere in central Seoul, given the view is not obstructed by a skyscraper. The N in the tower’s name is short for Namsan, the mountain on top of which the tower stands.  Combined with the height of the mountain, the tower is some 480 meters above sea level, and has been a prime vantage point for a sweeping view of Seoul for th

Travel April 25, 2020