May 08, 2024
Bio
Korean pharma firms plan to launch major drugs this year
[THE INVESTOR] Korean pharmaceutical companies are poised to release a series of important drugs in the second half of this year, industry sources said on June 9.
Kolon Life Science’s Invossa, a gene drug for osteoarthritis, will receive approval from the Ministry of Food and Drug Safety later this month at the earliest, according to sources. This would make it the world’s first medicine for degenerative joint disease.
SK Chemicals is also expecting authorities to give the green light to its shingles vaccine in the coming months, the biotech company said.
The new vaccine will break the current monopoly held by MSD Korea in the market estimated at some 80 billion won (US$71.35 million) in value.
Green Cross, another leading drug maker, is also preparing to release its tetanus and diphtheria vaccine for adults later this year, after receiving an approval from the government in November, the sources said. Korea currently imports all Td vaccines.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Kolon Life Science’s Invossa, a gene drug for osteoarthritis, will receive approval from the Ministry of Food and Drug Safety later this month at the earliest, according to sources. This would make it the world’s first medicine for degenerative joint disease.
SK Chemicals is also expecting authorities to give the green light to its shingles vaccine in the coming months, the biotech company said.
The new vaccine will break the current monopoly held by MSD Korea in the market estimated at some 80 billion won (US$71.35 million) in value.
Green Cross, another leading drug maker, is also preparing to release its tetanus and diphtheria vaccine for adults later this year, after receiving an approval from the government in November, the sources said. Korea currently imports all Td vaccines.
By Alex Lee and newswires (alexlee@heraldcorp.com)
