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The Korea Herald

Bio & Medicine

May 21, 2020
Macrogen’s COVID-19 test kit approved for export

Macrogen, a genomics biotech company, announced Thursday that its AxenTM Covid-19 RT test kit has gained the Drug Ministry’s approval for export. “We are planning to supply our test kit to major countries, which contacted us even during the test kit development phase and were looking forward to...
May 20, 2020
SK Pharmteco joins consortium to supply pharma ingredients in US

SK Pharmteco, a consolidated global pharmaceuticals manufacturing chain of SK Group, will provide US-based Phlow with pharmaceutical ingredients to offset supply shortfall in the country, SK Holdings announced on May 20. The Donald Trump administration has announced it will buttress the project w...
May 19, 2020
DongKoo Bio&Pharma invests W3b in AI firm Vuno

DongKoo Bio&Pharma said on May 19 that it has expanded its field of business to artificial intelligence by investing 3 billion won ($2.4 million) in medical solution provider Vuno. The two firms signed a memorandum of understanding whereby DongKoo Bio&Pharma will leverage its 50-year know-how to c...
May 18, 2020
Gates Foundation gives $3.6m to SK Bioscience’s COVID-19 research

Bill & Melinda Gates Foundation is doling out a series of funding for epidemic countermeasure research in Korea. SK Bioscience, a vaccine researcher and developer firm, said on May 18 that it has nabbed $3.6 million financial backing from the US foundation for to research the biologic structure of...
May 14, 2020
Seegene’s net profit jumps 600% in Q1

Real-time polymerase chain reaction COVID-19 detection test kit maker Seegene saw a whopping 600 percent jump in its consolidated operating profit and net profit in the first quarter of 2020, according to company filings on May 14. Seegene rose from being one of many molecular diagnosis companies...
May 14, 2020
Hanmi may sue Sanofi for withdrawing from diabetes drug research

South Korea’s Hanmi Pharmaceutical may consider taking legal action against global biopharma Sanofi as the French company abruptly decided to halt participation in further research on efpeglenatide, a potential treatment for Type 2 diabetes. The Korean pharma issued a notice to shareholders on M...
May 12, 2020
SillaJen CEO detained over alleged insider trading, stoking fears of delisting

The head of local biotechnology firm SillaJen was detained on May 12 for alleged involvement in insider trading, raising market fears over SillaJen’s fate as a Kosdaq-listed company. The Seoul Southern District Court issued an arrest warrant for SillaJen CEO Moon Eun-sang, citing a flight risk a...
April 10, 2020
Samsung Biologics to manufacture Vir’s COVID-19 treatment starting 2021

Samsung Biologics on April 10 signed a binding letter of intent worth 440 billion won ($363 million) to manufacture US-based Vir’s COVID-19 treatment, starting 2021. It is the biggest single deal Samsung Biologics has taken since its 2016 initial public offering. Vir’s SARS-CoV-2 monoclonal a...
March 05, 2020
Lutronic faces lawsuit in US for alleged trade secrets theft

The US subsidiary of South Korea’s Lutronic is facing a lawsuit for allegedly misappropriating trade secrets through former employees of Cutera it hired recently, according to documents reviewed by The Korea Herald. Aesthetic laser equipment maker Cutera -- listed on Nasdaq -- claimed that foren...
January 06, 2020
Prosecutors raid Kolon headquarters in probe into alleged listing fraud

Prosecutors on Jan. 6 raided the headquarters of Kolon Group, as part of their investigations into alleged fraud in the listing of an affiliate involved in the development of the group‘s controversial gene therapy drug, Invossa. Prosecutors and investigators from the Seoul Central District Prosec...
December 19, 2019
Daewoong gets nod for Nabota in UAE, Indonesia

South Korean drugmaker Daewoong Pharmaceutical said Dec. 19 it has won approval from authorities in the United Arab Emirates and Indonesia for the sale of its botulinum toxin product. The Ministry of Health in the UAE and Indonesia’s Badan Pengawas Obat dan Makanan accepted Daewoong Pharmaceut...
December 09, 2019
Celltrion presents Truxima’s results of phase 3 clinical trials in US forum

Celltrion announced on Dec. 9 that it has disclosed its biosimilar Truxima’s results of phase 3 clinical trial at the 2019 annual meeting of the American Society of Hematology last week. “The clinical trials were conducted among patients in European countries including Germany, Spain and Russia ...
December 02, 2019
Nonlife insurers’ 9-month profit down 24.6%

South Korea’s nonlife insurance firms saw their combined net profit drop 24.6 percent in the first nine months of 2019 from a year earlier, mainly due to increased losses stemming from their long-term insurance and auto insurance businesses, data showed Dec. 2. Nonlife insurance firms operatin...
November 28, 2019
SK Chemical’s SID 710 receives FDA sales approval

SK Chemical on Nov. 27 announced that its SID 710, a patch-type medication that aims to treat people with Alzheimer’s disease has won sales approval from the US Food and Drug Administration. The patch has been sold under the name Wondron Patch, a generic version of Novartis’ Exelon Patch for Alz...
November 26, 2019
Celltrion’s Remsima SC wins European approval

South Korean biopharmaceutical firm Celltrion said Nov. 26 that its drug Remsima SC for the treatment of autoimmune diseases has won sales approval in Europe. The European Medicines Agency has given the green light to Celltrion’s application to sell the subcutaneous version of Remsima, a biosi...

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