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Celltrion announced July 19 that it has established the joint venture Vcell Healthcare in Shanghai with Hong Kong-based conglomerate Nan Fung Group to make a foray into China. Established in 1954, Nan Fung Group’s businesses range from real estate development to life sciences. “We are now one s...
HanAll Biopharma , a subsidiary of Daewoong Pharmaceutical, invested 5.6 billion won ($4.76 million) in Switzerland-based biotech startup Roivant Sciences’ subsidiary Immunovant Sciences, according to industry sources on July 19. In return, the Korean company gained a stake in Immunovant Science...
Korean biotech firm Bridge Biotherapeutics announced on July 18 that it has signed a contract with German-based pharmaceutical company Boehringer Ingelheim to license out its drug candidate BBT-877. BBT-877 is expected to be developed to treat various fibrotic diseases such as idiopathic pulmonary...
The prosecution has requested arrest warrants for Kim Tae-han, CEO of contract drug manufacturer Samsung BioLogics, and two other executives, surnamed Kim and Shim. The Seoul Central District Court will review the request on July 19. Prosecutors had requested arrest warrants in May, but the court ...
Kim Tae-han, president and CEO of contract drug manufacturer Samsung BioLogics, appeared again before prosecutors on July 5 to be questioned about whether he abetted the destruction of evidence in an accounting scandal at the company. Kim, who has headed the Samsung Group company since its foun...
South Korea’s drug authorities on July 3 revoked the permit for gene therapy drug Invossa for mislabeling and the false reporting of an ingredient used. The Ministry of Food and Drug Safety said it made the final decision banning the production and sales of Invossa after it canceled the licens...
Thinking of undergoing vision-sharpening surgery but scared if things would go awry as you grow older? Taking cue of such concerns among people contemplating lasik surgery, genetic services provider Avellino Labs, headquartered in Palo Alto, California, has developed a DNA diagnostic kit which the ...
Shares of Kolon Group ’s bio affiliates plummeted after South Korea’s drug authorities canceled the license for gene therapy drug Invossa on May 28. According to the Ministry of Food and Drug Safety, the decision was made as the drug maker intentionally mislabeling an ingredient used in its ne...
Korean new drug developer Syntekabio is preparing to go public, after receiving approval for a drug candidate from CJ Healthcare, according to industry sources on May 20. The company has picked KB Securities as its IPO manager. Syntekabio is hoping to go public before the year-end but declined to ...
Prosecutors raided a task force office of Samsung Electronics on May 16 as part of an investigation into allegations that Samsung Group may have ordered accounting fraud by its biopharmaceutical unit. The investigators were sent to the task force office in charge of business support work for ch...
More than 350 individuals who own stocks of Samsung BioLogics have filed a damage suit against the Samsung Group unit over its alleged accounting fraud, judicial officials said on May 13. In the class action suit filed with the Seoul Central District Court late last month, a group of 355 retail...
Celltrion Healthcare, an affiliate of major biopharmaceutical firm Celltrion, had the highest average salary among listed firms in South Korea in 2018, data showed on May 7. The firm, which handles Celltrion’s overseas business, paid its 130 employees an average 241 million won ($206,000) last...
A local private equity firm Wired Partners is considering joining the bid for acquiring Kyung Nam Pharm , a local drug maker known for its vitamin supplement Lemona, according to industry sources on May 2. The PEF is reportedly having last minute discussions about participating in the main bid f...
South Korea’s Boryung Pharmaceutical announced on May 2 that it has launched its flagship hypertension drug Kanarb in the Philippines. “With our experience of Kanarb’s success in Korea, we aim to make it the family No. 1 hypertension drug line in South Asia and Latin America,” said Boryung P...
Major biosimilar manufacturer Celltrion ranked at the top among local companies last year in terms of R&D-to-sales ratio, industry data showed on May 1. According to the data by market tracker CEO Score, Celltrion spent 289 billion won ($248 million), or 29.4 percent of its sales, on R&D last y...
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