Licensing-out Deals in 2021 Total KRW11.4tr
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on Nov. 21 that South Korean pharmaceutical and biotech companies’ technology exports since the beginning of this year are 11.4049 trillion won in total.
According to the association, the figure including undisclosed contracts is estimated at more than 12 trillion won and the annual exports, which exceeded 10 trillion won for the first time last year, are likely to reach a new high this year.
“The companies currently have no less than 1,500 new drug candidates and their aggressive R&D efforts are ongoing along with open innovation,” it said, adding, “The number of their technology export contracts is expected to continue to increase.”
These days, South Korean pharmaceutical and biotech companies are rapidly emerging worldwide. Samsung Biologics and SK Bioscience are increasing their presence in the global contract manufacturing market and many other companies are working on a number of new drugs. They are diversifying their export destinations from the United States and Europe, too. This year, Alteogen and Genexine signed 126.6 billion won and 1.2 trillion won contracts in India and Indonesia, respectively.