GC-Yuhan Orphan Alliance Signals Changing Korean Views On Open Innovation
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.
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As the year end approaches, Scrip wraps up what major events made headlines in the South Korean pharma/biotech sector in 2018.
Open Innovation and global partnering are becoming one of the most frequent themes of bio conferences in South Korea and elsewhere. Scrip talked to global experts at the recent Bio Korea 2018 meeting about their views on the current climate and trends for open innovation in Asia, as well as some challenges and benefits in pursuing open innovation approaches with Asian companies.
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.