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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...
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...
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...
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...
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...
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 ...
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...
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...
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...
South Korean drug firm SK Biopharmaceuticals is expected to raise at least 5 trillion won ($4.25 billion) through a planned share sale, analysts said Nov. 25. The company said that XCOPRI has won approval from the US Food and Drug Administration for the treatment of partial-onset seizures in ad...
South Korean biotech firm Bridge Biotherapeutics CEO Lee Jung-kyu announced Nov. 22 that the company plans to expand further after going public in December. The company expects to be listed on the second-tier Kosdaq market. “We hope to become a global biotech company by advancing both our busine...
SK Biopharmaceuticals said Nov. 22 its anti-epileptic drug has won approval from the US Food and Drug Administration. The company said the FDA granted approval of XCOPRI, or cenobamate tablets, for the treatment of partial-onset seizures in adults. This is the first time a South Korean phar...
South Korea’s Samsung Bioepis said Nov. 20 that the US Food and Drug Administration has started reviewing its application for sales of SB8, a proposed biosimilar referencing Avastin. Samsung Group’s biosimilar development unit had applied for FDA’s marketing approval in September. Avastin is a...
SK Biopharm announced on Nov. 18 that its narcolepsy drug Sunosi received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP). Narcolepsy is a debilitating neurological disorder characterized by excessive sleepiness. According to SK Biopha...
Celltrion Pharm, the generic arm of Celltrion, announced Nov. 14 that its sales jumped 36.6 percent in the third quarter from a year earlier to 47.43 billion won ($40.7 million). The South Korean company added that its operating profit and net profit moved into the black this quarter, respectively...
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