SEOUL, June 8 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Thursday it has signed a US$411.3 million contract with Pfizer to manufacture the U.S. pharmaceutical firm’s products. Under the deal with Pfizer, Samsung Biologics will manufacture Pfizer’s multi-product biosimilar portfolio, including oncology, inflammation and immunotherapy, at its [...]
SEOUL, June 6 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Tuesday it will move up the operation of its new biomedicine production facility by five months in a way to deal with rising demand. The company has invested 1.98 trillion won (US$1.51 billion) to build Plant 5 [...]
DAEJEON, June 6 (Korea Bizwire) — In the realm of stem cell technology, as nations forge ahead with their endeavors, South Korea has emerged as a formidable contender, boasting an average annual growth rate that has steadily surged, trailing only China, according to a recent report. The Korean Intellectual Property Office (KIPO) divulged on Sunday [...]
SEOUL, June 4 (Korea Bizwire) — Nearly 550 South Korean bio companies plan to take part in the Bio International Convention to be held in the United States this week to expand their global presence and boost technology cooperation with industry peers, Seoul’s industry ministry said Sunday. The world’s largest partnering event in the sector [...]
SEOUL, May 30 (Korea Bizwire) — SK bioscience Co., a pharmaceutical affiliate of South Korea’s SK Group, said Tuesday its COVID-19 vaccine SKYCovione has won approval from British authorities. The British Medicines and Healthcare products Regulatory Agency has approved the Korean vaccine for use as a primary vaccination in those aged 18 and over in [...]
SEOUL, May 15 (Korea Bizwire) — South Korean biotech companies are seeking alternative solutions in organoids amidst increasing opposition to animal testing. Organoids are three-dimensional replicas of organs or tissues artificially created by culturing cells derived from human bodies. Organoid science focuses on developing treatments for incurable diseases based on organoid models of human organs [...]
SEOUL, May 11 (Korea Bizwire) — SK Biopharmaceuticals Co., a biopharmaceutical affiliate of SK Group, said Thursday its first-quarter net loss narrowed from a year earlier thanks to robust sales of its flagship epilepsy medication. The company said in a regulatory filing its net loss for the January-March period reached 2.4 billion won (US$1.8 million) [...]
SEOUL, May 8 (Korea Bizwire) — Pharmaceutical and biotech companies in South Korea are teaming up to develop new drugs using artificial intelligence (AI). During the drug development process, AI can predict whether a chemical compound is suitable for human use, thereby speeding up the identification of potential substances and enabling the selection of appropriate [...]
SEOUL, May 7 (Korea Bizwire) — Samsung Electronics Executive Chairman Lee Jae-yong has recently met with leaders of global pharmaceutical companies in the United States, the company said Sunday, in line with its efforts to find new growth engines beyond semiconductors. Lee held the series of meetings with CEOs from five major companies: Joaquin Duato [...]
SEOUL, May 3 (Korea Bizwire) — Global pharmaceutical company Merck Life Science is considering building manufacturing facilities in South Korea’s central city of Daejeon, the industry ministry said Wednesday. Merck signed a memorandum of understanding with the Ministry of Trade, Industry and Energy and the Daejeon city government earlier in the day on its potential [...]