South Korea's drug ministry, together with consumer and business groups, announces a raft of major regulatory innovation tasks it aims to achieve over the next few years, a major goal being to speed up patient access to innovation.

Plus deals involving Shionogi/ Grünenthal, CR Biopharma/ImmVira, Elevation Oncology/CSPC, Everest Medicines/TTY Biopharm and Dr. Reddy’s/Slayback

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.

A roundup of key regulatory and policy developments in the Asia-Pacific in the first half of the year reveals broad developments across the region's diverse markets, although there seemed to be a common thread - a renewed focus on infectious diseases amid the lingering impact of the pandemic and the emergence of new threats.

Weak financing sentiment for Korean bioventures continues this year with sharply lower fund inflows from venture capital and other investors, as well as delayed or withdrawn IPOs, in Q2. Amyloid Solution, Rznomics, and UPPthera were among the top fundraisers.