LG Restructuring Ups Group Emphasis On ‘Red Biotech’
Executive Summary
LG's decision to merge its biopharma affiliate LG Life Sciences with the group's main cash cow, LG Chem, signals a focus on "red biotech" and a desire to keep up with other major South Korean conglomerates such as Samsung that are building their biopharma businesses. LG plans to sharply hike sector R&D and capital investments to position the combined operation as a future growth engine.
You may also be interested in...
Samsung Seeks Third Anti-TNF Biosimilar Launch In Europe
After receiving regulatory approvals in Europe for its biosimilar versions of etanercept and infliximab earlier this year, South Korea's Samsung Bioepis is now looking to add adalimumab to it and partner Biogen’s growing portfolio.
SK Bio To Go All The Way With Novel Epilepsy Drug
SK Biopharmaceuticals, the new drug development subsidiary of South Korean conglomerate SK Group, is to seek approval of epilepsy drug YKP3089 without conducting a Phase III efficacy trial and aims to launch the drug globally in 2018, becoming the first domestic pharma to develop, commercialize and market a new product single handedly.
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.