Korea 2018 Review: Hopes And Worries Coexist In Pharma Sector
As the year end approaches, Scrip wraps up what major events made headlines in the South Korean pharma/biotech sector in 2018.
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Following an exchange decision that Samsung BioLogics should remain listed, the company has vowed to improve management transparency by beefing up internal controls and supervision over accounting. The decision is set to ease worries over the possible negative impact of an accounting probe on contract development and manufacturing orders, although the company still faces a court battle with financial authorities over its accounting standards.
Amid ongoing talks to denuclearize North Korea, the two Koreas are gearing up for bilateral cooperation in various industries including the health and medical sector, if and when international sanctions on the North are lifted. A new report suggests possible ways the two sides can initially work together in the area, with a focus on infectious diseases.
With a global first marketing authorization for its darbepoetin biosimilar in South Korea, Chong Kun Dang aims to speed up the product’s entry into the Japanese and other international markets and progress clinical rials with other biosimilars and novel biologics.