Interview: GC Pharma Begins New Chapter For Globalization
GC Pharma, formerly known as Green Cross Corp., is set to move on to the next stage of its ongoing globalization scheme with the completion of a biomanufacturing facility in Canada. Joon Soo Ryu, its vice president of office of corporate strategy, talks to Scrip about the leading Korean pharma’s North American strategy, including how it is approaching the market differently versus its Korean peers.
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In what appears to be the first open innovation-based partnership between leading South Korean pharma firms, GC Pharma and Yuhan have agreed to conduct joint early research on orphan drugs, capitalizing on each others' strengths. The move may herald a shift in domestic companies' views on such collaboration and a possible increase in similar tie-ups, amid their ongoing efforts to pursue innovation.
South Korean companies are seeking diverse ways to enter global drug markets, and SK Biopharmaceuticals is leading the way by establishing physical R&D and commercial operations in the US to progress its CNS drug pipeline. Executives of SK Life Science, the US subsidiary of SK Biopharmaceuticals, talk to Scrip about why they are committed to developing drugs in the US and what advantages and challenges they have by establishing a footprint in this key market.
Green Cross has hit a bump in its journey to commercialize an immunoglobulin product in the US, but analysts say the approval delay will not be a significant obstacle to its longer term North American strategy.