Daewoong Pharmaceutical is planning to undertake more than 40 clinical trials at home and abroad this year, setting a record for the company.
Daewoong Pharmaceutical announced on May 30 that it will launch 30 new clinical studies in Korea and abroad this year. This is about 2.5 times the number of 12 clinical trials approved last year.
It will advance clinical trials on drug candidates in its new pipeline, including diabetes treatment SGLT2, proceed with clinical trials of the drugs in its existing pipeline such as Nabota, and add new clinical trials for approval of incrementally modified drugs and generics.
Daewoong has been engaged in R&D involving synthetic drugs, bio-drugs, modified drugs, global generics, and artificial intelligence (AI).
In January, CEO Jeon Seung-ho emphasized in his new year address the strengthening of new drug R&D capacity and acceleration of the development of global innovative drugs.
Daewoong has completed an average of 16 clinical trials over the past three years by completing 20 cases in 2016, 18 cases in 2017, and 12 cases in 2018.
First, 10 domestic and overseas clinical trials are planned this year for the drug candidates in its innovative new drug pipeline. The next-generation APA anti-ulcer treatment is in Phase 3 clinical trials in Korea and the anti-ocular treatment is in Phase 3 clinical trials overseas. In the second half of the year, the company will start Phase 2 clinical trials of diabetes treatment SGLT2 in Korea and apply for a global clinical trial for PRS fibrosis treatment.
In addition, new clinical trials have been conducted for the purpose of adding applications to the drugs in the current pipeline, such as Nabota's entry into Phase 3 clinical trial for square jaw, and approval of new clinical trials of modified drugs to focus on the development of new drugs for the global market.
Daewoong's R&D investment is expected to exceed 100 billion won this year, which accounts for more than 13 percent of annual sales.
CEO Jeon said, "We expect Daewoong's R&D competitiveness to be further enhanced through domestic and overseas clinical trials of innovative new drugs."