Although the Korean government has expanded investment into the research and development of mental health area, its direction has failed to catch up with shifting paradigms, leaving room for improvement, an expert pointed out recently.Professor Kwon Jun-soo of Seoul National University Hospital made these and other points in a report released by Korean Health Industry Development Institute.
Kazakhstan and Uzbekistan rely heavily on imported medicines, but Korean drugs’ market shares in the two Central Asian countries remain disappointing. Why? In its recent report, Korea Health Industry Development Institute has come up with a solution: the domestic pharmaceutical companies should set up PR strategy taking into account the region’s medical culture that prefers self-treatment.
Korea’s export of medical supplies to China, including medicines, fell sharply in the second half of last year after the government decided to deploy the U.S. anti-missile battery in this country, government statistics showed Wednesday. Shipments to China between July and December last year recorded a negative growth for the first time in five years, according to data at Korea Customs Service
Among Korea’s major pharmaceutical companies, three – Hanmi Pharm, Dong-A ST, and Handok – recorded steepest falls in operating profits last year. Given that Hanmi Pharm showed amazing performances in 2015 thanks to its large-scale technology export, Dong-A ST and Handok suffered severest profit drops. These are part of the results of analyses made by this newspaper, based on required public
Practically every pharmaceutical company CEO outlines his or her aspirations for the New Year with phrases like “innovative new drug” and “global pharmaceutical company.” And some deliver on this promise to develop new drugs and sign technology export contracts.Does that mean Korean pharmaceutical companies are on track to become global players?At least one expert does not seem to think so
InBody, a company analyzing body composition that registered record-high sales in the first quarter in 2016, is expected to maintain its growth tempo this year. Stock market analysts predicted the company’s products exported to hospitals in foreign countries, including the United States and China, will be a driving force for its growth.“InBody’s export of goods for experts this year is expecte
A biomedical industrial complex will open in Hongneung, northern Seoul, in July, setting itself up as the bio cluster of Northeast Asia. The Hongneung Biomedical Cluster (HBC) seeks to become the central “bio venture city” in this part of the world, making the most of the capital city’s geographical advantages and sufficient research capacity.Despite its ambitious objective, visitors find HBC
Ever since the various applications of stem cells came to light in 1998, public opinion of stem-cell therapy rose and fell like a rollercoaster based on industry achievements. Anticipation and concerns intersected. Accusations and compliments diverged.Amidst all of this tension, Dr. Kim Kyung-suk persistently devoted herself to the study of incurable diseases. In 2004, Kim started the stem cel
It is predicted that VR (Virtual Reality) will be commonly used in medical fields.According to a recent report of ‘Trends in VR applied to domestic and international situations’ released by ETRI (Electronics and Telecommunications Research Institute), the areas where VR is actively applied to are medical services, service business, entertainment, and education etc.The report emphasizes
GemVax & KAEL is one of Korea’s top bio businesses in developing new drugs. In 2013, it tested candidate drug GV1001 on a sample size of pancreatic cancer patients, encountering frustrations when the multinational clinical trial yielded statistically insignificant results. However, it has since proven effective on patients with high eotaxin levels and been introduced as Tertomotide (Korean name Ri
Samsung BioLogics denies allegations of lobbying the Blue House and receiving favorable treatment when they publicly listed their company on South Korea’s main stock market.The allegations arose due to the sudden changes made to KOSPI listing regulations. KOSPI’s regulations had previously required companies to have sales exceeding 100 billion won, or profit exceeding 3 billion won for public
With the rise of gene medicine, gene analysis technology and the latest information have become two core concerns in biotechnology. In fact, plenty of countries have pinpointed bio or precision medicine as national market strategies, and with the international DNA sequencing market increasing by about 20 percent annually, it is expected to ring in $11.7 billion dollars in 2018.Established in 1
Foreign buyers evaluated they like Korean medical device brands, but Korean brands are vulnerable in competitive edge (esp. in terms of price competitiveness) compared with Chinese ones that have been rapidly growing.The Institute for International Trade (ITT) at KITA (Korea International Trade Association) released the survey of 563 foreign buyers, 'TRADE BRIEF'. It was designed to check thei
What can Korea do to develop new, world-class drugs?Perhaps the answer is biopharmaceuticals; a field emerging with vast potential and boasting ten domestic research-centered hospitals appointed in 2013.While the States’ CTSA (Clinical and Translational Science Awards) — which supports various consortiums comprised of hospitals, universities and research centers — largely maintains the nat
Although the genome analysis industry is increasing dramatically, Korean equipment related to genome analysis is practically nonexistent.According to Korea Research Institute of Bioscience & Biotechnology(KRIBB)'s ‘Next Generation Sequencing(NGS)’ report, all 126 pieces of NGC equipment introduced into the country in 2014 were foreign products. According to the report, 71 were from Illumina, 3
The Korea Institute for Industrial Economics & Trade (KIET) analyzed that Japan pays attention to Korean strategy to build a bio industry complex in ‘Check on oversea industry (Mok Sagong/researcher)’. Japan is actively developing biosimilar as an alternative to cope with sharp increase in medical fees.The researcher said, “Japanese biosimilar industry is trying to benchmark the Korean pla
Paju city announced it would make the world’s largest bio medical industrial complex based on precision medicine such as cell therapy.Deputy mayor Kim Jun-tae(acting mayor) said in the 1st international precision medicine center conference hosted by IPMC (International Precision Medicine Center) held in Seoul Westin Chosun on the 19th. According to IPMC, the local government will do a precisi
The government prepared for a supportive measure for medical institutions to go abroad with the law of Act on support for overseas expansion of healthcare system and attraction of international patients. Recently, it suggested a guideline that the institutions have to check.The Korea Health Industry Development Institute (KHIDI) announced 7 things that medical institutions should consider for
Some bio and pharmaceutical companies whose stock prices drop range were large last year started smoothly in the beginning of this year, which makes investors have expectation.Korea Biomedical Review(KBR) analyzed price earnings ratio for the week from 30th December 2016 to 6th January 2017 based on the closing price on 29th December 2016.The 94 target companies are classified as bio c
Last year, the amount of money for export and import of pharmaceutical products exceeded $2billion and $5billion respectively for the first time since 2000.According to the results of import and export (based on the date of registration processed), the amount of money for import and export of ‘pharmaceutical products’ were $197.37million and $547.18million in 2000. These figures have steadily