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The Korea Herald

Bio & Medicine

March 11, 2019
LG Chem lands Bill Gates grant for 6-in-1 vaccine development

LG Chem, South Korea’s top chemical firm, said on March 11 it has received a $33.4 million grant from the Bill & Melinda Gates Foundation to develop a new combination vaccine. The grant will be used to develop the 6-in-1 vaccine for simultaneous protection against six serious diseases -- dipht...
March 11, 2019
Celltrion Healthcare to supply Remsima and Truxima in Southeast Asia

Celltrion Healthcare announced on March 11 that it won bids to supply Remsima and Truxima to two Southeast Asian countries at the end of last year. For this year, the company will be exclusively supplying Remsima, its biosimilar of Johnson & Johnson’s autoimmune disease therapy Remicade, to Singa...
March 08, 2019
Stonebridge Ventures aims to widen bio portfolio

Stonebridge Ventures, spun-off from Korean private equity firm Stonebridge Capital, will invest more in the bio industry this year, according to industry sources on March 8. “Recently, we saw growing demand for funding in the bio industry, so we decided to hire more employees with related experti...
March 07, 2019
Samsung Bioepis to spend W180b on new R&D center

Korean biopharmaceutical firm Samsung Bioepis will spend 180.4 billion won (US$159.70) to build a new research and development center, its parent company said Thursday. The investment cost accounts for 36.44 percent of the company’s capital at the end of 2017, Samsung BioLogics, a biopharmaceu...
March 07, 2019
Daewoong Pharma’s sales top W1tr in 2018

Daewoong Pharmaceutical announced on March 6 that it posted sales of 1.31 trillion won (US$ 1.16 billion) last year. It has became one of the few Korean pharma firms to reach the milestone. Three other local companies -- Kolmar Korea, GC Pharma and Hanmi Pharmaceutical -- crossed the landmark figu...
March 07, 2019
SillaJen to secure additional funds worth W220b

SillaJen aims to secure around 220 billion won (US$194.89 million) fresh funds through issuing convertible bonds, according to industry sources on March 7. It has picked Kium Securities to organize the deal with investors. According to sources, the official decision to secure new funds will be co...
March 06, 2019
KRX blocks Bio Genetics’s move to join Kyung Nam board

Stock exchange operator Korea Exchange has blocked condom maker Bio Genetics from getting representation on Kyung Nam Pharm’s board, according to industry sources on Mar. 6. Bio Genetics, which bought an 11.29 percent stake in Kyung Nam Pharm, had aimed to get representation through an extraordin...
March 05, 2019
Samsung Bioepis gets nod for sale of biosimilar drug in Europe

Korean biopharmaceutical firm Samsung Bioepis said on March 5 it has won approval from European authorities for the sale of mass dosages of its biosimilar drug Ontruzant. The European Medicines Agency accepted Samsung Bioepis’ application to sell the 420 mg biosimilar product referencing Switz...
March 03, 2019
Korean hypertension drugs gear up for bigger sales in 2019

Hypertension drugs gained unwanted attention in South Korea last year: More than 170 generic drugs sold by 76 local drugmakers were recalled by the Drug Ministry for their inclusion of valsartan, a chemical substance that could raise the risk of cancer. However, the industry is looking for a rebou...
March 03, 2019
Ildong’s Aronamin best-selling OTC drug for 3rd year in row

Ildong Pharmaceutical’s multivitamin series Aronamin was the best-selling over the counter drug for the third consecutive year in 2018. OTC drugs can be purchased directly at medical stores without a doctor’s prescription. According to health care consulting firm IQVIA on Mar. 3, Aronamin marke...
February 28, 2019
Kolmar Korea to issue corporate bonds worth W100 b

Korean cosmetics manufacturer Kolmar Korea has decided to issue corporate bonds worth 100 billion won (US$89.35 million), according to industry sources on Feb. 28. Mirae Asset Daewoo is organizing its funding. According to sources, the firm initially planned to issue bonds worth 70 billion won an...
February 27, 2019
Celltrion Pharm to inject W58b to establish Remsima SC production facility

Celltrion Pharm, the generic arm of Celltrion, announced on Feb. 27 that it has decided to inject 58.2 billion won for establishing its Remsima SC production facility at its plant in Cheongju, North Chungcheong Province. Remsima SC is a subcutaneous version of Remsima, its biosimilar of Johnson & ...
February 26, 2019
SK Biopharmaceuticals hopes to enter Japan with epilepsy treatment: sources

SK Biopharmaceuticals, the new drug development unit of Korea’s telecom-to-energy conglomerate SK Group, is considering exporting its drug candidate Cenobamate to Japan, according to industry sources on Feb. 26. Cenobamate was developed as an epilepsy treatment. The company is now conducting phas...
February 25, 2019
Anchor Equity Partners to sell major stake in Geoyoung

Hong Kong-based global private equity firm Anchor Equity Partners plans to sell its 47 percent stake in Korean top drug retailer Geoyoung, according to industry sources on Feb. 25. The PEF has reportedly picked Citigroup Global Markets Korea Securities as it manager to organize the sale of Geoyoun...
February 25, 2019
A bright new future for Kyung Nam Pharm?

Kyung Nam Pharm, a local drug maker known for its vitamin supplement product Lemona, is once again looking for an owner after failing to sign a deal with South Korean media company KMH Group in 2018. So far, two local companies -- Bio Genetics and Next BT-- have expressed a willingness to make the...

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