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How Korea Can Avoid Pitfalls Of Over-Reliance On Out-Licensing

Citeline’s Pang Suggests Diverse Business Models For Korean Biopharma

 
• By Jung Won Shin

An over-reliance on out-licensing as a business model may restrict the healthy growth of South Korean biopharma firms over the longer term, a Citeline executive told a recent symposium in Seoul.

Citeline's Timothy Pang
Decline In Alliances Globally And In Korea As Pandemic Unwinds • Source: Jung Won Shin

Since Hanmi Pharmaceutical Co., Ltd. reached a series of major global out-licensing deals with multinational pharma partners in 2014-15, out-licensing has been a key growth strategy for the South Korean biopharma industry, which mostly lacks sufficient capital to pursue the expensive later-stage development of new drugs in international markets.

However, a global industry expert from Citeline noted that over-reliance on out-licensing in the longer-run may actually act to restrict healthy growth, as Korean firms miss opportunities to gain first-hand...

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