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
Yonsei University Health System (YUHS) said it signed a collaborative agreement with KURE.AI Therapeutics, a U.S. biotech firm, to cooperate on the development of cell therapies.Under this partnership, the two institutions plan to establish a company focused on developing cell therapies for solid tu
Boehringer Ingelheim Korea said it has commenced a voluntary recall of select batches for Spiriva Respimat (ingredient: tiotropium bromide hydrate), its chronic obstructive pulmonary disease (COPD) and asthma medication.This medication is approved for use as a bronchodilator in the maintenance treat
Seoul National University Bundang Hospital (SNUBH) has been acknowledged for its efforts in catering to international patients, particularly following its second consecutive Global Health Accreditation (GHA) certification received in November of the previous year.The GHA certification recognizes the
In a recent media session organized by MSD Korea, a local professor shared insights regarding the efficacy of MSD's Lagevrio (ingredient: molnupiravir) in treating Covid-19, with a particular focus on high-risk groups.As the global community continues to recover from the pandemic, the Covid-19 virus
VUNO said VUNO Med-DeepCARS, designed to predict cardiac arrest, has achieved a record-breaking number of new contracts and an increase in bed allocations on a monthly basis since its introduction to the market.Throughout January, VUNO has successfully forged agreements with more than 10 healthcare
GC Wellbeing, a health/functional food manufacturer, said it signed a new export business agreement with YooYoung Pharmaceutical to enter the Chinese filler market.Under the accord, the two companies aim to develop, produce, market, and sell products specifically for the Chinese filler market, with
SK biopharmaceuticals announced its 2023 fourth quarter and annual financial results, highlighting significant revenue growth and a reduction in operating losses, thanks to increased sales of its epilepsy drug, cenobamate, and cost efficiency measures.The company's revenue for 2023 was 354.9 billion
Lunit, a medical AI company, said it has recorded its first sales in the U.S., just two months after obtaining approval from the U.S. FDA for Lunit INSIGHT DBT, its 3D breast cancer detection artificial intelligence (AI) solution, in November 2023.The company stressed that this achievement marks a s