Korea 2019 Review: Industry Spooked By Invossa Affair, Disappointing Trials But Hopes Intact
The South Korean pharma/biotech industry suffered a series of negative blows in 2019 but there were still notable achievements including major drug approvals and large-scale licensing deals.
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Hanmi Pharm is remaining upbeat after Sanofi’s decision to find another commercialization partner for efpeglenatide, saying it was the best strategy for the long-acting GLP-1 agonist given the strategic change in the big pharma’s diabetes strategy.
Celltrion plans to launch its new subcutaneous formulation of Remsima in Europe next year beginning with Germany and then to get approvals for all indications by mid-2020. It has indicated that prices will be higher than first-line anti-TNF treatments but competitive with second-line rheumatoid arthritis treatments, as it pursues a strategy to gain substantial market share.
SK Biopharmaceuticals receives US approval for novel anti-epileptic drug, marking a major milestone for the South Korean firm in its goal of becoming a fully integrated global pharma and potentially boosting its huge planned IPO. Through its US subsidiary, the SK Group company will independently market and sell the product in the world’s biggest single market.