SEOUL, Jul. 10 (Korea Bizwire) — A global biotechnology exhibition opened in Seoul on Wednesday with the aim of helping local businesses make inroads into the global market, officials said. The Bioplus-International Pharmaceutical and Manufacturing Expo Korea kicked off in Seoul for a three-day run, inviting 250 businesses from 15 countries, including Samsung Biologics Co. [...]
SEOUL, July 3 (Korea Bizwire) – Lotte Biologics Co. said Wednesday it has begun construction of its first production facility in South Korea, aiming to become one of the top 10 companies in the global contract development and manufacturing organization (CDMO) market. The plant, with a manufacturing capacity of 120,000 tons, is being built in [...]
SEOUL, Jul. 3 (Korea Bizwire) — Private equity firm MBK Partners will acquire Japan’s Alinamin Pharmaceutical for 2.9 trillion won (US$2.1 billion), industry sources said Wednesday. MBK Partners will buy the Japanese supplement maker from U.S. investment fund Blackstone in a stock purchase deal to be signed later in the day, according to the sources. [...]
SEOUL, Jun. 27 (Korea Bizwire) – In recent years, South Korea has witnessed a significant increase in medical expenses related to drug addiction, largely attributed to a growing trend of prescribing psychotropic medications for insomnia treatment and weight loss. The Health Insurance Review and Assessment Service (HIRA) released these findings on June 26, coinciding with World [...]
SEOUL, Jun. 27 (Korea Bizwire) – South Korean vaccine developers are leveraging the expertise gained during COVID-19 vaccine development to accelerate the creation of messenger RNA (mRNA) vaccine platforms. This push has gained momentum following the Korea Disease Control and Prevention Agency’s recent emphasis on domestically producing mRNA vaccine platforms capable of developing vaccines within 100-200 [...]
SEOUL, Jun. 27 (Korea Bizwire) — SK bioscience Co., a biopharmaceutical arm of South Korea’s SK Group, said Thursday it has agreed to pay 339 billion won (US$243 million) for control of German biotech company IDT Biologika. The acquisition of IDT Biologika will give SK bioscience a crucial gateway for its expansion plans in the [...]
SEOUL, June 26 (Korea Bizwire) – SK Group, one of South Korea’s largest conglomerates, is reportedly reviewing its business portfolio across various sectors, including its pharmaceutical and biotech divisions. The move comes as part of the group’s broader strategy to streamline overlapping operations and secure liquidity for future investments. According to industry sources on June 25, [...]
SEOUL, June 17 (Korea Bizwire) – Police will launch an investigation into more than 1,000 doctors suspected of receiving illegal kickbacks from a drugmaker, the Seoul police chief said Monday. Police have confirmed circumstances suggesting that the doctors received kickbacks in cash and other rewards, ranging from several million won to tens of millions of [...]
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 [...]