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More than 350 individuals who own stocks of Samsung BioLogics have filed a damage suit against the Samsung Group unit over its alleged accounting fraud, judicial officials said on May 13. In the class action suit filed with the Seoul Central District Court late last month, a group of 355 retail...
Celltrion Healthcare, an affiliate of major biopharmaceutical firm Celltrion, had the highest average salary among listed firms in South Korea in 2018, data showed on May 7. The firm, which handles Celltrion’s overseas business, paid its 130 employees an average 241 million won ($206,000) last...
A local private equity firm Wired Partners is considering joining the bid for acquiring Kyung Nam Pharm , a local drug maker known for its vitamin supplement Lemona, according to industry sources on May 2. The PEF is reportedly having last minute discussions about participating in the main bid f...
South Korea’s Boryung Pharmaceutical announced on May 2 that it has launched its flagship hypertension drug Kanarb in the Philippines. “With our experience of Kanarb’s success in Korea, we aim to make it the family No. 1 hypertension drug line in South Asia and Latin America,” said Boryung P...
Major biosimilar manufacturer Celltrion ranked at the top among local companies last year in terms of R&D-to-sales ratio, industry data showed on May 1. According to the data by market tracker CEO Score, Celltrion spent 289 billion won ($248 million), or 29.4 percent of its sales, on R&D last y...
More and more South Korean pharmaceutical conglomerates are showing interest in funding small bio companies, as they see some merits in doing so. According to the annual reports of local pharma companies last year, Yuhan was the most active in investing in bio firms. “So far, we have invested ...
Celltrion said on April 29 that it has won approval from the US Food and Drug Administration for its antibiotic generic in the United States. Linezolid is expected to go on sale in the US by the year-end, a move that could heat up competition in the global market, which is estimated to be worth...
Daewoong Pharmaceutical‘s botulinum toxin Nabota received a positive opinion from European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP), on April 26. The CHMP opinion is a scientific recommendation for marketing authorization to the European Commission, which will no...
L&K Biomed is at risk of being delisted by bourse operator Korea Exchange, according to industry sources on April 24. The South Korean health care company’s stock trading has been suspended, as an external accounting auditor has issued a “disclaimer of opinion” on its internal accounting contro...
South Korean pharmaceutical company Boryung Pharmaceutical announced on April 23 that it has established a new production facility in Yesan, South Chungcheong Province. The new site in Yesan, which started construction in March 2017, spans around 145,097 square meters. Boryung Pharmaceutical has...
South Korean bio company OliPass is preparing to go public by the end of the year, according to sources on April 23. Preparing to start the initial public offering process, the company has picked Mirae Asset Daewoo and Kium Securities as IPO managers. According to sources, OliPass will file for p...
South Korean bio startup MitoImmune Therapeutics announced on April 22 that it has closed its series A round after raising 12 billion won ($10.5 million). Four investors -- the state-run Korea Development Bank, KB Investment, BNH Investment and SL Investment -- participated in the investment round...
Kyung Nam Pharm , a local drug maker known for its vitamin supplement Lemona, has decided to receive letters of intent from April 22-24 to find a new owner. The company plans to pick a buyer for its newly issued shares to become the biggest stakeholder. The preferred bidder will be chosen around ...
South Korean bio startup GenBody, which originally was planning an initial public offering this year, has changed its schedule, according to industry sources on April 18. According to sources, the firm’s decision was mainly due to a decrease in its corporate value. Established in 2012, GenBody i...
SK Biopharmaceuticals, a drug development unit of South Korea’s telecom-to-energy conglomerate SK Group , announced on April 18 that it has signed a contract with US-based biotech company twoXAR to co-develop a new drug for treating non-small cell lung cancer. Non-small cell lung cancer is the ...
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