Key Words For Korean Pharma In 2010s: Novelty, Open Innovation, Global Markets
Industry Pursues More Originality
From being generics-focused to becoming innovators and leaders in biosimilars, Scrip takes a look at how the Korean pharma sector and environment have evolved over the past 10 years.
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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.
Pre-IPO Bridge Biotherapeutics inks major idiopathic pulmonary fibrosis license agreement with Boehringer Ingelheim, marking the biggest single product licensing out deal by a South Korean biotech. The move is poised to further bolster the German firm's leading position in the field and reflects global pharma's increasing interest in IPF.
New clinical trial approval data show that early-stage studies of novel drug candidates by South Korean pharma and biotech firms sharply increased in 2018, underlining the industry’s ongoing shift towards innovation. Trials of oncology drugs continued to dominate, while clinical work in rare disorders such as hemophilia and Crohn’s disease has noticeably increased.