“Innovative” has become a trite descriptor, since marketing departments of pharmaceutical companies plaster the word everywhere. So who is actually investing the most in research and development?Last year, the share of R&D spending against sales revenue among the top 10 pharmaceutical companies post
Dong-A ST Co. announced on Apr. 11 that it has entered into a license agreement with Tobira Therapeutics to develop Evogliptin as a treatment of non-alcoholic steatohepatitis (NASH).Under the terms of the agreement, Dong-A ST will receive up to US$61.5 million (70.54 billion won) from Tobira, includ
According to the 68th business report at a regular general shareholders meeting on March 18, Dong-A Socio Holdings Co. said it posted 704.7 billion won (US$606.19 million) in consolidated sales and 64.4 billion won (US$55.4 million) in consolidated operating profits in 2015, and decided to execute c
Dong-A ST announced on March 9 that it has signed a contract with China’s Suzhou Sino on the previous day to exclusively supply “Terizidone,” raw material medicine used in the treatment of multi-drug resistant tuberculosis (TB).With the latest deal, the company will provide the Chinese company with
Dong-A ST announced that it has signed an agreement with Plan Korea, an international relief and development non-governmental organization (NGO), to support medicines to disadvantaged areas in Guinea, West Africa, at the Plan Korea headquarters in Pangyo, Gyeonggi province, on March 4.The signing ce
On February 26, the Korea Drug Research Association (KDRA) held its 17th annual awarding ceremony for new drug developers in Korea in Seoul. At the ceremony, Dong-A ST won half of the top prize with its oral diabetes drug Suganon Tab. Techniques applied to this drug have been exported to more than 2
Dongwha Pharm Co. (Chairman Yoon Do-jun) has chosen Sohn Ji-hoon, former CEO at Baxter Korea, as its new president. He will take office from February 1 2016.The new president Sohn Ji-hoon studied economics at Korea University and earned a Master of Business Administration (MBA) at Boston University
Daesong Corporation’s fermented seasoning brand “Miwon” was selected as a “World Class Product” by the Ministry of Trade, Industry and Energy (MOTIE). Miwon is the nation’s first seasoning and has been a popular ingredient in Korean food for the past 60 years. It is made by fermenting sugar cane and
ST Pharm, a pharmaceutical raw-material company which is a subsidiary of Dong-A Socio Holdings, announced that it has won the USD 7 million Export Tower at the 52nd Trade Day Commemoration Ceremony in Samsung-dong, Seoul, on Dec. 7.The company received the export tower award thanks to its achievemen
On July 20, DongA ST (CEO Park Chan-il) announced that the company signed a license contract with Russian Geropharm for its recently-developed diabetes drug Evogliptin.Under the contract, DongA ST receives deposits in addition to a royalty for the technology. The company will also receive royalties
As domestic pharmaceutical companies have started gaining recognition of their new drug development capabilities overseas, they are expanding technology exports. As products newly-released abroad through technology exports are receiving a positive consumer response not only in emerging countries, in
The Incheon Free Economic Zone (IFEZ), aiming to become a business hub of Northeast Asia, is poised to become a global city.Designated as Korea's first free economic zone (FEZ) on August 11, 2003, the IFEZ has grown up with a strategy of selection and concentration to strengthen the country'
Dong-A ST has licensed its new diabetes drug Evogliptin to 17 Latin American countries including Mexico, Venezuela, Argentina, Chile, Colombia, Ecuador, Peru, the Dominican Republic, and Uruguay, Jung Jae-wook, Dong-A ST’s PR manager, told Business Korea. Dong-A ST and Eurofarma, a Brazilian pharmac
Donga ST is strengthening its global marketing in order to expand the overseas sales of Bacchus.Its overseas sales this year have increased by 13 percent compared to last year. Last year, the sales of Bacchus were estimated at nearly 37 billion won (US$34.19 million), a 21 percent increase from 3.05
BusinessKorea recently spoke with Yoo Duk-hyung, president of Seoul Institute of the Arts and a living legend of Korea’s modern performing arts history. A pioneer in opening and developing new chapters of Korean arts, Yoo is known for his experimental adventures into unexplored territories. We asked
On June 22, Dong-A ST announced that its new drug Sivextro (tedizolid phosphate) was recently approved by the U.S. Food and Drug Administration (FDA) after 11 years of development. This is the second drug developed in South Korea to be approved by the U.S. FDA after 2003 with LG Life Sciences’ “Fact
Dong-A Socio Holdings had an opening ceremony on May 30 for a DM Bio plant dedicated to manufacturing biosimilar medicines and medical supplies at the Songdo District of Incheon Free Economic Zone.At the ceremony 150 guests and parties of interest attended including Dong-A Socio Holdings Chairman Ga
On May 20, Doosan Group donated three billion won (US$2.93 million) for the family members of the Sewol ferry disaster’s victims and to improve the safety infrastructure of the country. Many companies, cities, organizations, and even celebrities including Hallu stars like Kim Su-hyun donated to this
It turns out that local pharmaceutical companies’ R&D investment in new drugs amounts to only one tenth of that of Japanese counterparts.Presently, the local pharmaceutical industry is in a similar state to that of Japan in the 1980s, as exemplified by downward trends of drug prices. Some point out
A local research team has developed a secondary cell that can be used to let electric cars run as long as 300 kilometers on a single charge.Dong-A University chemical engineering professor Lee Jung-kyu revealed on May 7 that his research team developed a next-generation high-capacity lithium seconda