Several major South Korean pharma companies reported strong earnings in the fourth quarter and for the whole of 2022, led by in-house developed or other key prescription drugs, as well as growing overseas sales.
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Aside from record earnings reported by a number of Korean pharma companies, the industry saw a diverse range of headlines in the fourth quarter, including cross-border acquisitions and business diversification.
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South Korea's LigaChem is kickstarting a growth and globalization drive through a potential future acquisition of UK ADC player IKSUDA.
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A new report from a domestic institute on South Korea’s biopharma M&A trends shows a pickup in activity, but that this remains relatively weak and small-scale. It calls for broader domestic government support to build expertise, drive innovation and globalization.
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Cross-Asian initiative has already brought several South Korean gene and cell therapy startups and Japanese VCs closer, with further hopes for product development and launches in Japan, regulatory harmonization and gliobalization.
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The latest activity in the South Korean biotech sector includes IPOs by Orum and Dongkook Life, as well as progress with ADCs at multiple firms.
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RemeGen is planning to complete enrolment in the global Phase III RemeMG study with telitacicept in generalized myasthenia gravis by the end of 2025 or early 2026. The Chinese firm has already sidelined two other global Phase III trials with the molecule to prioritize the indication.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.
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Heads of Novartis Biomedical, World Economic Forum and Indian majors like Sun Pharma’s SPARC, among others, discuss generative AI in drug discovery along with pointers for India to leapfrog the R&D process