"We are interested in developing new drugs. And we will do so, by all means, provided three conditions are met. However, the nation’s pharmaceutical industry itself has yet to work out an answer.”

So said Yoon Ho-yeol윤호열, executive director of Samsung Biologics삼성바이오로직스, in a forum titled “R&D strategy in the Fourth Industrial Revolution era” at the Korea press center Friday, showing interest in developing new drugs. However, he made it clear Samsung would not start it right now.

During the panel discussion, Moon Ae-ri문애리, chairwoman of Pharmaceutical Society of Korea (PSK)대한약학회, asked, “Samsung has ability enough to develop new drugs. When will you do so?” Yoon said in response, “We have interests. If we don’t, we are irresponsible. We will do so if there are clear answers to three conditions.”

Yoon Ho-yeol, executive director of Samsung Biologics, presents his company’s position on the development of new drugs at a forum Friday.

The answers to the conditions Yoon cited concern how much time Samsung can reduce, how much cost the company can cut, and how it can enter the market.

"We have to examine what kind of competitive edge we have. We can’t win the race with global pharmaceuticals if we run exactly as they do. We have to develop lucrative targets through market prediction. From that aspect, new drugs are different from biosimilars,” Yun said.

He went on to say, “If we get answers for the three conditions, we will develop new drug by all means but the nation itself has yet to work out the answers," indicating Samsung finds it premature.

In his presentation titled “Suggestions for Korea to become global powers in bio industry and new drugs,” Yoon also commented on the limitation facing Korean drugmakers.

"Samsung started late but has the largest number of biosimilar pipelines now. It means we have a superior competitive edge in speed. It is important to develop early, sell first, and reinvest it as fast as possible," he said.

“Competition to develop new drugs is fierce not among companies but countries. Speed and prices are important. If the domestic enterprises lag behind foreigners in the race, all efforts go up in smoke and cannot market their products. Without a global marketing strategy, they can secure no market values,” he said. “If we apply the three conditions to new drugs and bioproducts, we can find clear limitations facing the domestic industry now.”

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