South Korea is situated on the periphery of the global pharmaceutical industry map. The global drug market reached US$1.1 trillion (1,244 trillion won) as of last year, the South Korean market stood at 21.7 trillion won (US$19.19 billion), accounting for a 0.012 percent of the total. There are no So
An increasing number of South Korean pharmaceutical and biotech companies are setting up branches, joint ventures and subsidiaries abroad.Particularly successful examples include Hanmi Pharmaceutical’s Beijing Hanmi Pharmaceutical established in 1996 and Ilyang Pharmaceutical’s Yangzhou Ilyang Pharm
Kolon Life Science is striving to penetrate the U.S. market with its gene therapy product Invossa. The company is currently preparing a clinical trial so that its cartilage regeneration effect can be acknowledged by the U.S. FDA.The upcoming trial focuses on knee cartilage regeneration and the subje
Korea's Ministry of Food and Drug Safety approved the sale of gene therapy product “Invossa” to treat degenerative knee arthritis of Kolon Life Science’s development on July 12. This marks the first approval of the sale of a gene therapy drug in Korea and the 29th approval of the sale of a new Korea
A lot of attention is being paid to the news that the National Tax Service recently asked the prosecution to look into Kolon Group chairman Lee Woong-yeul prior to the launch of the world's first cell gene therapy product “Invossa” developed by Kolon Life Science.According to industry sources, earli
It has been found that South Korea recorded an export of biopharmaceuticals of US$1.1916 billion for the first 11 months of this year, up 27.9% from a year ago. Last year’s total that reflects customs clearance is US$809 million and this year’s total that reflects the factor is estimated to exceed U
Kolon Life Science announced on November 1 that the company signed a technology export contract amounting to about 500 billion won (US$447 million) on Invossa, a cell-mediated gene therapy for degenerative osteoarthritis with Mitsubishi Tanabe Pharma. The deal will allow Kolon Life Science to receiv
Kolon Life Science has filed for approval from the Ministry of Food and Drug Safety to market Invossa, the world’s first medicine for the degenerative joint disease. Invossa is the first gene therapy which treats arthritis with a normal gene of donors. It is the result of 17 years of its investments
Invossa made by the Kolon Group (Chairman Lee Woong-yeul), the world’s first allogeneic cell therapy for osteoarthritis of the knee, will start Phase 3 clinical trials by the U.S. Food and Drug Administration (FDA). A cell therapy product for degenerative arthritis, it is the first treatment to ente