Samsung BioLogics has come under pressure as the country’s financial authorities have claimed that the evaluation of its affiliate violated accounting rules. Dubbed as one of Samsung Group’s future growth engines, the contract drug-manufacturing firm has enjoyed blowout days with its stock price jumping nearly fivef...
Hyundai Motor Group said on May 28 it has clinched a partnership deal with Sony Pictures Entertainment to allow customers experience its future mobility and new technologies via the latter’s platforms such as movies, animations and digital contents. According to the automaker, its latest mobility technology will be featured in Sony Pictures’ movie “Uncharted” and “Spider Man 3,” which will be released in July 2021 and November 2021, respectively.
Samsung Biologics has bagged two contract manufacturing deals worth 468 billion won ($378 million) combined, according to its regulatory filing on May 22. The total value of the latest deals is equal to two-thirds of the company’s revenue for last year at 701 billion won. According to the biopharmaceutical unit of Samsung, it inked a contract manufacturing deal worth 284 billion won with global biopharma GlaxoSmithKline to manufacture the latter’s lupus treatment Benlysta. B
Macrogen, a genomics biotech company, announced Thursday that its AxenTM Covid-19 RT test kit has gained the Drug Ministry’s approval for export. “We are planning to supply our test kit to major countries, which contacted us even during the test kit development phase and were looking forward to export approval together with us,” said Macrogen CEO Lee Su-kang. “We will not only improve our test kit’s performance to detect numerous mutations of coronaviru
SK Pharmteco, a consolidated global pharmaceuticals manufacturing chain of SK Group, will provide US-based Phlow with pharmaceutical ingredients to offset supply shortfall in the country, SK Holdings announced on May 20. The Donald Trump administration has announced it will buttress the project with $812 million funding over the next 10 years. SK Holdings owns US’ Ampac Fine Chemicals and more contract manufacturing organization facilities in Europe and Korea. In January 2019, it esta
DongKoo Bio&Pharma said on May 19 that it has expanded its field of business to artificial intelligence by investing 3 billion won ($2.4 million) in medical solution provider Vuno. The two firms signed a memorandum of understanding whereby DongKoo Bio&Pharma will leverage its 50-year know-how to commercialize Vuno’s AI solutions. AI radiology market is showing explosive growth of over 40 percent every year and is expected to form a 2 trillion won market by 2023, DongKoo Bio&a
Hanwha Solutions said on May 19 it has invested in a solar power software company, diversifying its business portfolio that is currently focused on hardware such as solar power cells and modules. This is the first investment finalized by the Hanwha Group affiliate since Vice President Kim Dong-kwan took charge in March. The company recently acquired a 20.26 percent stake in Australia-based energy management system firm SwitchDin that specializes in virtual power plant technology, the comp
Bill & Melinda Gates Foundation is doling out a series of funding for epidemic countermeasure research in Korea. SK Bioscience, a vaccine researcher and developer firm, said on May 18 that it has nabbed $3.6 million financial backing from the US foundation for to research the biologic structure of an optimal antigen for epidemics. This comes a day after the announcement of some $9.7 million funding from the Bill & Melinda Gates Foundation for Korean telecom company KT’s research
Korea Electric Power Corp. said on May 15 that it recorded 430.6 billion won ($350.1 million) in operating profit in the first quarter this year, swinging back into the black in three years. The state-run utility witnessed 430.6 billion won in operating profit, a 1-trillion-won increase on-year from an operating loss of 629.9 billion won thanks due to a sharp fall in oil prices. “Thanks to the global fall in fuel prices, Kepco’s expenses spent for fuel and electricity p