Korean Pharma Finds Own Way To Collaborative And Open Innovation

Taking into consideration global and domestic trends, South Korean pharmas are increasingly finding their own strategies to seek open innovation and collaborations to develop novel new drugs. Two leading firms from the country shared their know-how and showcased successful open innovation cases during a recent gathering organized by a national industry association.

Innovation concept presented by a consultant in management on webinar screen
Yuhan, Daewoong's Open Innovation Strategies

Although South Korean pharma companies may not have the unique open and external innovation platforms of global pharma firms, they have nevertheless been accumulating their own experience and know-how in recent years, to devise R&D strategies that meet their needs and are suitable for their particular situations.

Pharma companies in the country have been more aggressively making strategic investments in bioventures and in new drug R&D in...

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