As the global biosimilar market keeps growing, Korean pharmaceutical companies that have been focusing on traditional drugs are turning their attention to biosimilars. Unlike the newly established large biosimilar companies, these companies follow a strategy to target Japan, which is a niche market,
The United States slapped a high tariff on Korean steel products once again by finding fault with POSCO’s hot-rolled steel plates.According to the steel industry on October 10, the U.S. Department of Commerce recently laid a preliminary tariff of 30.61 percent on the heavy walled rectangular welded
Dong-A ST announced on October 1 that Japanese chemical research institute SKK filed with the Japanese Ministry of Health, Labor and Welfare for permission to manufacture and sell DA-3880, a biosimilar for the treatment of anemia, whose production technology was transferred from Dong-A ST.DA-3880 is
A string of bad events in the South Korean bio industry are fueling concerns that a “K-biotech stock bubble” might burst.According to industry sources on July 23, SillaJen Inc., one of South Korea's top biotherapeutics companies, has encountered criticism from its shareholders as executive offic
As the Fair Trade Commission (FTC) is moving to increase the equity stakes that a holding company is required to own in its affiliates and grandson companies, conglomerate are looking for ways to adapt to the expected change in regulations.According to investment banking (IB) industry sources on Jul
Global pharmaceutical companies operating in Korea are facing growing criticism for being stingy on social contribution.Korean subsidiaries of global pharmaceutical companies account for 30% of total medicine sales in Korea. Sales of new drugs from these companies have been robust as punishment for
Korean pharmaceutical companies are expected to develop Cancer immunotherapy drugs within a few years because some Korean companies began to accumulate and develop related technologies.More intense competition is expected in the domestic market of cancer immunotherapy drugs called “third-generation
Dong-A ST Co., a drug ingredient-making subsidiary of Dong-A Socio Holdings Co., announced on Feb. 6 that it has completed construction of a biopharmaceutical production plant in Indonesia to push into the local market.The US$15 million (16.21 billion won) plant was established by a joint investment
Dong-A ST Co. has reached a technology transfer agreement for its diabetic neuropathy treatment with an U.S.-based drug maker for up to US$180 million (192.69 billion won).Dong-A ST announced on January 28 that it has signed a license deal with NeuroBo Pharmaceuticals Inc. to grant the US firm exclu
South Korean biopharmaceutical companies are seeking to develop new drugs with artificial intelligence (AI) technology.According to industry sources on January 3, Seegene Inc. succeeded in developing molecular diagnostic assays by using a newly created AI based assay development system. These assays
Bain Capital, the world’s largest private equity fund (PEF) firm, will join the 1 trillion won (US$920.13 million) race to acquire CJ Healthcare. The company, which is building its healthcare portfolio, has set up a strategy to maximize a synergy between its acquired firms after buying bio pharmaceu
An increasing number of South Korean pharmaceutical companies are entering the Halal market.The size of the global Halal market reached US$1.89 trillion in 2015 and is estimated to grow to US$3 trillion within four years. The global Halal pharmaceutical market, which accounted for 6.7% of the global
Dong-A Socio Holdings announced on August 17 that Dong-A Pharmaceutical signed a memorandum of understanding (MOU) for the supply of birth control pills with the population and family planning department under the Ministry of Health of Vietnam at the headquarters in Seoul on the 16th.The signing cer
The chairman of Dong-A Socio Holdings, the holding company of Dong-A Pharmaceutical, has been detained on charges of tax evasion and offering illegal kickbacks to local doctors as bribes for prescribing the firm’s drugs.During the suspect interrogation before detention, the Busan District Court issu
Dong-A Socio Holdings announced on April 17 that the company signed a strategic partnership with Russian pharmaceutical company Pharmasyntez in Moscow, Russia.Dong-A Socio Group has been exporting such as Cycloserine and Terizidone, both of which are materials for tuberculosis medicines and Morning
Dong-A Pharmaceutical sells two “Benachio” products. The two are a 20 ml product which is easy to carry in a small container and suitable for the elderly and women who can hardly take large quantities and a 75ml product good to take with powder- or pill-type digestive aids.“Clinical trials of Benach
Dong-A Pharmaceutical announced on March 6 that it has launched “Dong-A Denmark Probiotics” made with lactic acid bacteria of Denmark’s Chr. Hansen, which has the largest share in the global lactobacillus market.Dong-A Denmark Probiotics contains 1 billion of strains specialized for healthy bowels a
As China has put the Nagoya Protocol, which is designed to share profits from using biological resources, into effect on September 6, the South Korean government estimates that the Nagoya Protocol will lay an annual burden of up to 500 billion won (US$447.63 million) on the domestic bio industry. In
Dong-A ST said on September 12 that Tobira Therapeutics Inc. (CEO Laurent Fischer) has recently initiated conducting a phase 1 study of the combination therapy of Evogliptin and Cenicriviroc (CVC) so as to develop a composite drug of non-alcoholic steatohepatitis (NASH).In compliance with an agreeme
The United States will slap anti-dumping duties up to 3.82 percent on steel pipes manufactured by South Korean companies.According to Washington Center of the Korea International Trade Association on July 16, the U.S. commerce department has decided on the 14th (local time) to impose anti-dumping du