1. Scrip
  2. >>Focus On Asia
  3. >>South Korea

Korea 2023 Review: R&D Potential Shines Through Despite Challenges

ADCs, TPD Come Into Focus

 
• By Jung Won Shin

Despite some disappointments, the South Korean pharma industry showed mostly resilient R&D activity in 2023 amid robust efforts to secure technologies and assets in new modalities such as ADCs and TPD to better compete with global players. 

2023 Scrip Perspectives
Despite a challenging dealmaking and financing environment, Korean firms focused on finding new growth engines • Source: Shutterstock

2023 was a difficult year for the South Korean biopharma industry amid the wider prolonged economic recession and a high interest rate environment, but it was also a period during which the country's larger firms were able to demonstrate their potential in novel R&D.

As the sector moved away from the COVID-19 pandemic and got back to business as usual, the situation in general was more favorable for larger companies, which reported solid earnings...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from South Korea

MetaVia Sees Obesity Opportunities Despite Challenging US Market

 
• By Jung Won Shin

Despite new challenges related to obesity drug insurance coverage in the US, MetaVia's CEO is confident in the company's novel contender, which unlike rival GLP-1 therapies doesn’t require dose titration.

Korea Q1 Roundup: Mixed Earnings, Gearing For Possible US Tariffs

 
• By Jung Won Shin

South Korean biopharma companies report a mostly solid first quarter, marked by US growth for original drugs, with several also making preparations for possible US pharma tariffs.

Tech Convergence, Quality Data Needed To Accelerate Korea’s AI-Powered R&D

 
• By Jung Won Shin

AI-powered drug development was a major topic at the recent Bio Korea meeting, where experts discussed how the technology is changing R&D activities and the challenges being faced by Korean firms as they look to catch up with their global competitors.

Celltrion Sees Multiple Biosimilar Opportunities From Trump’s Pricing EO

 
• By Jung Won Shin

Biosimilars giant Celltrion tells shareholders there could be multiple opportunities for its business under US President Donald Trump’s latest executive order on drug pricing.

More from Focus On Asia

Korea Q1 Roundup: Mixed Earnings, Gearing For Possible US Tariffs

 
• By Jung Won Shin

South Korean biopharma companies report a mostly solid first quarter, marked by US growth for original drugs, with several also making preparations for possible US pharma tariffs.

In Brief: Nicox Extends Cash Runway As Kowa Advances NCX 470 In Japan

 
• By Sushmita Panda

Eye drug is already in Phase III trials elsewhere, with results due in Q3. Nicox could earn up to a further €24.5m in milestones and royalties from Kowa alliance.

Sun On Leqselvi US Launch Ahead, MFN Pricing And Pipeline Changes

 
• By Anju Ghangurde

Sun readies US debut of Leqselvi for alopecia areata, while PD-L1 inhibitor Unloxcyt is in the line up once the Checkpoint Therapeutics deal is completed. Management also discusses limited clarity on President Trump’s most favored nation pricing push, pipeline tweaks and M&A outlook.