The Ministry of Health and Welfare's announcement on Tuesday to increase medical school admissions by 2,000 students from the 2025 academic year has sparked a major backlash from doctors.This marks the most significant expansion in medical education capacity in 27 years, elevating the current quota
Huons said it has signed a technology transfer agreement with EFIL BioScience for a functional material derived from the root vegetable parsnip, which is known for its potential benefits in supporting respiratory wellness.EFIL BioScience, established in 2021, is a Korean biotech startup focusing on
Researchers from the Korea Advanced Institute of Science and Technology (KAIST) have made a discovery in the field of genetic regulation, highlighting the critical role of Alu elements in diseases such as tumor formation and neurodegenerative disorders.Alu elements, which make up about 10 percent of
Celltrion said that Rani Therapeutics has reported positive topline results from its phase 1 clinical trial of RT-111, an oral form of ustekinumab.The trial, conducted in Australia, involved 55 healthy adults and aimed to evaluate the pharmacokinetics (PK) and safety of RT-111, showcasing an impress
Chong Kun Dang said its consolidated operating profit surged by 124.4 percent on-year to 246.6 billion won ($184.7 million) in 2023, marking a record achievement thanks to its recent licensing deal with Novartis.The company's annual revenue increased by 12.2 percent to 1.6 trillion won last year, se
Daewoong Pharmaceutical said that the company achieved its highest-ever annual performance in 2023 across three key metrics -- sales, operating profit, and operating profit margin.On a standalone basis, the company reported sales of 1.2 trillion won ($900 million), an operating profit of 133.4 billi
Neurophet and ReadyCure said they have signed a business agreement to exchange business and conduct projects related to developing an Alzheimer's disease treatment.Under the accord, Neurophet will cooperate on developing ReadyCure's upcoming dementia treatment medical device, Helaxon.Utilizing its a
VUNO said it has achieved its highest annual revenue since its inception in 2014, thanks to a surge in revenue for VUNO Med-DeepCARS, its artificial intelligence (AI)-based cardiac arrest prediction solution, and increased sales in both domestic and international markets for its other AI medical ima
In 2023, the life sciences sector, particularly Big Pharma, has witnessed a significant return to large-scale deal making.This resurgence is primarily driven by the looming patent cliff, with numerous key products facing the loss of patent protection within the next five years.The EY (Ernst & Young)
GI Cell, an affiliate of GI Innovation, has submitted an application to the Ministry of Food and Drug Safety for phase 1/2a clinical trials to evaluate the safety and efficacy of a combination therapy between GI Cell's allogeneic NK cell therapy, T.O.P. NK and GI-101A, in patients with recurrent and
Hanmi Pharm reported a groundbreaking performance for 2023, with consolidated sales and operating profit reaching 1.49 trillion won ($1.1 billion) and 220.7 billion won, up 11.97 percent and 39.5 percent from the previous year, thanks to royalties and strong domestic sales.The company also reported
LG Chem's life sciences business has hit a milestone by exceeding 1 trillion won ($755.8 million) in annual sales for the first time in the company's history. The performance was backed by strong sales from AVEO Oncology, a U.S. subsidiary acquired in April 2023. The sales represent a 30.1 percent g
A research team at Gangnam Severance Hospital has uncovered a significant correlation between non-alcoholic fatty liver disease (NAFLD) and an increased risk of developing dementia in individuals over the age of 60.The study, led by Professors Lee Jung-il and Lee Hyun-woong of the Department of Gast
Hanmi Pharma said it has signed a strategic agreement with its U.S. partner company, Assertio Holdings, which previously acquired Spectrum Pharmaceuticals, to re-acquire the rights to Rolontis, a long-acting neutropenia treatment and Korea's 33rd novel drug, for the Asian and African markets.Rolonti
Instead of surgery that requires drilling holes in the skull and inserting electrodes deep into the brain, researchers from the Institute for Basic Science (IBS) have announced a significant breakthrough in the treatment of Parkinson's disease.The team, led by Professors Cheon Jin-woo and Kwak Min-s
Osang Healthcare said it received approval from the Ministry of Food and Drug Safety for "GeneFinder HLA-B*58:01 Plus RealAmp Kit," designed to help better treat gout patients.The kit tests for the HLA-B5801 genetic variant, which is used to identify gout patients at risk of severe skin reactions to
In a significant move towards advancing digital healthcare, Kakao Healthcare, led by CEO Hwang Hee, unveiled its first service, "PASTA," an AI-based mobile blood glucose management application, on Thursday in Korea.The service was officially announced during a press conference held at Kakao Pangyo A
Samsung Bioepis and Samil Pharmaceutical have announced a marketing partnership for the local sales of SB15, a biosimilar referencing Eylea.Eylea is a blockbuster ophthalmic drug developed by Regeneron and treats wet age-related macular degeneration (wAMD) and diabetic macular edema (DME), which can
Pfizer Korea and Hanlim MS said they entered into a co-marketing agreement for the drug Xeljanz (ingredient: tofacitinib citrate), a drug used in the treatment of various autoimmune diseases.This collaboration aims to expand the availability and benefits of Xeljanz to a wider patient demographic thr
CHA Vaccine Institute, a subsidiary of CHA Biotech, has disclosed the top-line results from the phase 1 clinical trial of its third-generation hepatitis B vaccine candidate, CVI-HBV-002, which showed that the candidate had higher efficacy compared to currently available vaccines. The announcement pr