2016 Review: Mixed Bag Of Hope, Setbacks For Korean Pharma
For the South Korean pharma industry, 2016 was largely about major global advances for a wide range of biosimilars, accompanied but some setbacks in the area of novel drug development.
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Prosecutors' two-month probe into Hanmi Pharmaceutical has concluded without a big bang after they found the South Korean firm did not intentionally delay the disclosure of a licensee decision to end a cancer drug partnership, but several employees have nevertheless been arrested over improper information leakage.
Celltrion has edged ahead of its competitors in the close race to develop biosimilar versions of rituximab with the approval of its product in South Korea, which could help speed development in other markets where the South Korean firm is also seeking approvals.
In a rare large gene therapy deal, South Korea’s Kolon is making inroads into the Japanese market through Invossa, its genetically modified allogeneic cell therapy for osteoarthritis. The agreement with Mitsubishi Tanabe could pave the way for more global licensing agreements in a growing segment.