Mixed Earnings Outlook For Top Korean Pharma Firms
This article was originally published in PharmAsia News
Executive Summary
Major South Korean pharma firms are likely to post higher sales in the calendar first quarter driven by brisk exports, but mixed operating profits amid few signs of a recovery in the domestic prescription market. Increased spending for R&D stemming from the industry’s push to develop new drugs is also damping companies’ bottom lines, according to securities firms.
You may also be interested in...
No Korea-Originated New Drugs Approved Domestically In 2023
Notable new drug approvals in South Korea last year included Pfizer’s Tukysa, Genentech’s Columvi and BeiGene’s Tevimbra, but the tally did not include any domestically-originated products. Alzheimer’s disease therapy lecanemab may be on the horizon this year.
AI Healthcare, Medical Devices Shine In Korea Q1 Financings
After the financing draught suffered by Korean bioventures in 2023, it now seems the VC market is poised for a recovery as investors shift attention again to the healthcare sector, with a spotlight on AI-based solutions and device firms.
Window Of Opportunity: Korea Unveils Cutting-Edge Bio Initiative
South Korea is moving forward with plan to set up a Boston-type biotech cluster in Osong as part of a broader initiative unveiled by President Yoon, while the biopharma industry is calling for rapid process, exceptional support.