Looking Beyond CNS, SK Biopharm Begins First US Oncology Trial
Aims To Double Business This Year
The CNS-focused SK Group affiliate has set out ambitious growth plans for this year and is moving forward with a diversification into oncology and other areas, beginning its first US cancer trials in brain tumors and cancers with brain metastasis.
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Among recent highlights, SK Bioscience files for approval of recombinant protein COVID-19 vaccine GBP510, Hanmi Pharmaceutical’s Chinese subsidiary continues to report strong earnings, led by cold drug sales, while Yuhan’s novel peptide drug candidate for degenerative disc disease is set to move into a Phase III trial in the US.
Experts shared views at a recent conference in Seoul on how the Korean biopharma industry has evolved and what needs to be done to move forward in the next 10 years. Policy efficiency and family ownership in the sector came in for particular scrutiny, with some calling for sweeping changes.
Among the strong performers, Hanmi benefitted from growth for in-house-developed metabolic disease drugs and China cold syrup sales and Daewoong was boosted by exports of botulinum toxin, while Boryung reported record quarterly sales helped by its flagship antihypertensive.