Kolon TissueGene has failed to obtain a patent for Korea’s 29th novel drug , a cell gene therapy for osteoarthritis treatment, in Europe. The three patents of Invossa that the company sought were “gene therapy using transforming growth factor (TGF)-β,” “mixed-cell gene therapy,” and “cartilage regeneration using chondrocyte and TGF-β.”The European Patent Office (EPO) gave the nod for
CrystalGenomics said it would change the form of an investigational molecular targeted therapy for cancer, called “CG-745,” from injection to oral drug in all clinical trials.The biopharmaceutical firm is seeking to win a patent on the oral form of the experimental drug at the same time, it said.CG-745 is a molecular targeted anticancer agent that weakens or destroys cancer cells’ command
Foreign institutional investors fear that Korean makers of botulinum toxin products and fillers might suffer a sales drop in China because of Beijing’s crackdown on “daigong,” an analyst said. Daigong are merchants who purchase tax-free goods in Korea and sell them in China, an analyst said. The Korean government has yet to approve Korean companies to sell Botox products, and a significant
Bio Solution will be able to drive up its market capitalization once it obtains sales approval for osteoarthritis cell therapy CartiLife, an analyst said.The biotech company had initially aimed to win the nod for CartiLife within this year, but the Ministry of Food and Drug Safety demanded more data including documents on quality control.Despite the delay of approval to next year, the cell
Novartis has failed to restore the sales of Exelon, a patch for the treatment of Alzheimer’s disease, even six months after the resumption of the drug reimbursement.From Aug. 24, 2017, to February 23, 2018, the health authorities ordered a suspension of the reimbursement of Exelon. Industry watchers forecast that rival generic drugs would benefit from the reimbursement suspension of the Novart
Synthetic biology, which designs biological components and systems in new ways, is expected to play a key role in the smart therapeutics industry, a report said. Unlike genetic modification technologies that change existing biological systems, synthetic biology’s new designing of biological systems will apply to various industries, the report by the Biotech Policy Research Center (BPRC) said.
Biotech and pharmaceutical shares plunged on Tuesday, hurt mainly by the overall Korean stock losses.The benchmark KOSPI fell by 55.61 points, or 2.57 percent, to close at 2,106.10 on Thursday. The secondary KOSDAQ also dropped by 25.15 points, or 3.38 percent, to end at 719.Pharmaceutical stocks went bearish, both on the two markets.On KOSPI, Celltrion plummeted 8.19 percent, Hanmi Sc
Daiichi Sankyo’s Lixiana (edoxaban), a latecomer in the non-vitamin K antagonist oral anticoagulant (NOAC) market, has taken over rival drug Eliquis’ No. 2 position in sales in the third quarter, industry data showed.According to UBIST’s data, Lixiana’s outpatient prescription sales ranked third in the first half, after Bayer Korea’s Xarelto (rivaroxaban) and BMS Korea/Pfizer Korea’s Eliquis (
AbClon, a developer of innovative antibody medicines, is likely to achieve robust sales growth with its platform's ability to expand pipelines, an analyst said.AbClon is a midsize pharmaceutical firm, which posted 1.8 billion won ($1.58 million) in revenue and 700 million won operating loss in the first half. Industry watchers are paying attention to the company’s strategy to reduce risks of n
Investors are paying keen attention to antibiotics developers amid growing worries over the spread of “superbug,” or antibiotic-resistant bacteria. In Korea, iNtRON Biotechnology, CrystalGenomics, and LegoChem Biosciences are developing antibacterial treatments.The three companies showed the steepest rise in stock prices among antibiotics-related firms on Friday. On the tech-heavy KOSDAQ,
Bayer Korea said it has obtained approval for an expanded indication for Xarelto (ingredient: rivaroxaban) to reduce cardiovascular risks in patients with a coronary artery disease or symptomatic peripheral artery disease. Xarelto is a non-vitamin K antagonist oral anticoagulant (NOAC).The company said Xarelto became the first NOAC to show efficacy in reducing the risk of atherosclerotic event
With the new policy to reduce senior patients’ payment for dental implants, companies are raising expectations for sales growth from the third quarter. Major dental implant companies in Korea are Osstem Implant, Dentium, and Dio. Except for the market leader Osstem Implant, the two firms suffered a decline in sales this year. Osstem Implant’s domestic sales in the second quarter in
The government should enhance the punishment of illegal brokers who bring in international patients to unregistered clinics or demand hefty fees, a lawmaker said.Rep. Kim Myung-yeon of the opposition Liberty Korea Party said the Korea Health Industry Development Institute (KHIDI) was complacent about the quality of Korea’s medical services for foreign patients, at a parliamentary audit of the
A revision bill to ease requirements for the state designation of innovative pharmaceutical companies will give privilege to conglomerates such as Samsung and SK, a lawmaker said.The government recognizes “Innovative Pharmaceutical Companies” for their innovative R&D on new drugs and business expansion in the global market. Rep. Kim Soon-rye of the opposition Liberty Korea Party, w
CrystalGenomics said it hoped to carry out a phase-1 clinical trial on new leukemia drug candidate CG-26806 (CG-806) in the first quarter of next year. The company is soon to submit the Investigational New Drug (IND) Application to the U.S. Food and Drug Administration.CG-806 is a targeted therapy that inhibits bruton tyrosine kinase (BTK), FMS-like tyrosine kinase 3 (FLT3), and aurora kinase
Biotech and medical companies that went public under the Korea Exchange’s “technology exception policy” performed better on the KOSDAQ market than their peers that underwent the general listing procedure. The policy allows easier listing for firms with technological growth potentials.The better stock performance of the government-supported biotech firms brushed off concerns that the financial
Eisai Korea’s Lenvima (lenvatinib), recently approved as a first-line treatment for hepatocellular carcinoma (HCC), might also be effective in fighting liver cancer, experts said. Eisai rolled out Lenvima to take on Bayer’s Nexavar (sorafenib).Eisai won the nod for Lenvima from the Ministry of Food and Drug Safety in August, after proving the drug’s non-inferiority to sorafenib on overall surv
South Korea’s ranking in biotech competitiveness, announced by the U.S. science journal Scientific American, went down by two notches this year from 2016, the Biotech Policy Research Center said Wednesday. The nation’s biotech industry produces many excellent papers, but they are not well connected with businesses, the journal noted. Scientific American evaluated 54 nations’ competitivenes
The number of pharmaceutical and biotech firms within the top 20 companies on the secondary KOSDAQ market increased but their combined market capitalization fell in the past year, industry data showed.As of Monday, 10 pharmaceutical and biotech companies came in the top 20 KOSDAQ-listed firms concerning market cap, up three from seven on Oct. 10, 2017.However, the proportion of the combine
Medytox’s performance in the fourth quarter will rely on the Chinese government’s regulations on “daigong” -- merchants who purchase tax-free goods in Korea and sell them in China – industry sources say.Korean companies have yet to begin the official export of their botulinum toxin products, and these peddlers might have carried most of the made-in-Korea Botox goods traded in China, the source