Journalist

Lee Hyo jung
  • Korea Pharmaceutical and Bio-Pharma Association Holds Emergency Meeting on Drug Price Cuts
    Korea Pharmaceutical and Bio-Pharma Association Holds Emergency Meeting on Drug Price Cuts The Korea Pharmaceutical and Bio-Pharma Association said it will focus on limiting the impact on the industry from the government’s drug pricing system overhaul.  The association said it held an emergency meeting of its board on April 2 to discuss a response plan to the overhaul, which was recently approved by the Health Insurance Policy Deliberation Committee. The government last month announced the plan, including cutting prices for generic drugs to 45% of the original drug price, down from 53.55%.    At the meeting, the association agreed to draw up specific measures to reduce the hit from the price cuts. It said it will compile member companies’ questions about the overhaul to reduce uncertainty in the field. It also plans to hold two briefings for member companies this month, one online and one in person. The association said participants also agreed that the response should include a close review of strengths and weaknesses in the domestic pharmaceutical industry and industry-led efforts to support sustainable growth. They also said the need is growing for steps such as research on industrial promotion policies, including drug pricing rules, measures to support industry growth, and structural improvements such as establishing a sound order in pharmaceutical distribution. The association said it is also considering converting its emergency task force into a consultative body to discuss the industry’s sustainable development. It plans to hold a full meeting on April 14 at the association auditorium with representatives of participating groups in the “Emergency Task Force on Drug Pricing System Reform for Industry Development.” If the consultative body is launched, it is expected to help identify and deliver key agenda items for a future public-private consultative group involving the Ministry of Health and Welfare and the industry, the association said.  The association said the April 14 meeting is also expected to gather a wide range of views on setting the agenda for the public-private group, proposals to the government, industry innovation and advancement, and ways to establish a sound distribution order.* This article has been translated by AI. 2026-04-02 17:42:00
  • LG Chem Licenses Frontier Cancer Drug Candidate Targeting p53 Y220C Mutation
    LG Chem Licenses Frontier Cancer Drug Candidate Targeting p53 Y220C Mutation LG Chem said April 2 it has signed a global exclusive license with U.S.-based Frontier Medicines to develop and commercialize the cancer drug candidate FMC-220, which is nearing entry into a Phase 1 clinical trial. Under the deal, LG Chem will lead development and commercialization worldwide excluding China. The company will pay Frontier an upfront payment, along with additional development and commercialization milestone payments and separate sales royalties. FMC-220 is a p53 Y220C activator designed to restore the normal function of p53, a tumor-suppressor protein, by acting on the Y220C mutation among multiple p53 mutations. The p53 Y220C mutation is found in about 1% to 3% of all cancer patients and is considered an important treatment target. However, it has been viewed as an “undruggable” target because of structural constraints that have made drug development difficult. LG Chem said FMC-220 is designed as a covalent drug, meaning it binds irreversibly to its target. The company said this could allow more stable binding than noncovalent approaches and help sustain the drug’s effect longer. Frontier said preclinical results showed strong anti-cancer efficacy and durable responses even at low doses, and that anti-tumor activity was maintained in tumor models with co-mutations in KRAS, suggesting broader potential use across patient groups. LG Chem said it will initially develop the drug for ovarian cancer, where the p53 Y220C mutation is relatively more common, and plans to expand development to other cancers with the mutation. The company plans to recruit patients with ovarian cancer and other solid tumors in the United States and South Korea and begin a Phase 1 trial within the year. “FMC-220 is an innovative approach in that it targets a genetic mutation for which treatment options are currently limited,” Son Ji-woong, head of LG Chem’s Life Sciences division, said. “We will work to verify the potential of a treatment option that can provide real help to many patients.”* This article has been translated by AI. 2026-04-02 13:00:00
  • Korean Drugmakers Diversify Into New Businesses to Offset Price Cuts, Supply Risks
    Korean Drugmakers Diversify Into New Businesses to Offset Price Cuts, Supply Risks South Korea’s pharmaceutical and biotech industry is accelerating diversification as a survival strategy amid drug price cuts and global supply-chain uncertainty tied to Middle East tensions. Companies are widening their portfolios beyond medicines, from health supplements and animal drugs to solar power and even car-wash operations. Industry officials said April 1 that several established drugmakers are adding new business purposes at shareholder meetings this season, positioning the moves as a way to find growth as price cuts make limits in the traditional drug business more apparent. Yuyu Pharma recently amended its articles of incorporation to add the manufacturing and sale of “animal quasi-drugs, quasi-drugs and health functional foods.” Animal medicines are seen as a potential steady earner as pet ownership rises and entry barriers are relatively low. The global pet market is projected to grow from $320 billion in 2022 to $493 billion in 2030, the report said. Health functional foods are also a key target. Despite intense competition, the domestic market reached 5.9626 trillion won last year, making it attractive for drugmakers seeking a stable cash generator outside direct drug-pricing regulation. Many companies have already entered with products such as probiotics and collagen, drawn by higher margins, the report said. Expansion into beauty and medical devices is also gaining attention. Anguk Pharm added “development and sales of plastic surgery-related formulations” and “development and sales of biomedical-related products” to its corporate purposes, aiming to strengthen its health care portfolio by tapping growing demand for cosmetic dermatology in an aging society. After acquiring health care company Dmedicorea, Anguk has broadened beyond prescription drugs into supplements, beauty and sleep-related businesses. A frequently cited success story is Dongkook Pharmaceutical’s cosmetics brand Centellian24, which built recognition by applying the concept of ingredients used in its wound treatment Madecassol to skincare products. Some forecasts say the company could join the ranks of firms with 1 trillion won in annual sales on the back of growth in its health care business. Some companies are moving into businesses far removed from their core. Daewoong Pharmaceutical added a “solar power generation business” through its annual shareholder meeting, a step the report linked to ESG management. The company is expected to pursue rooftop solar installations at factories to generate power and cut energy costs. With raw material prices rising amid Middle East instability, solar power is also expected to help reduce costs over the long term, the report said. Dong-A ST newly listed “car-wash operation” as a business, describing it as part of ESG efforts alongside employment for people with disabilities. JW Pharmaceutical added “investment, management advisory and consulting,” a move seen as aimed at strengthening investment and management support functions across affiliates. Still, some in the industry warn that new ventures could dilute drugmakers’ core capabilities in pharmaceutical research and development and sales. “The key question is whether these new businesses will connect to existing strengths and translate into real profitability, or whether they will reduce room for R&D investment,” one industry official said. 2026-04-01 19:33:24
  • SK Biopharmaceuticals Files FDA Application for Cenobamate Oral Suspension for Epilepsy
    SK Biopharmaceuticals Files FDA Application for Cenobamate Oral Suspension for Epilepsy SK Biopharmaceuticals said April 1 it has submitted a new drug application to the U.S. Food and Drug Administration for an oral suspension formulation of its epilepsy drug cenobamate. The filing seeks approval of an additional formulation following the existing tablet version, for adults with partial-onset seizures. The company said the liquid oral suspension is expected to improve convenience for patients who have difficulty swallowing tablets and allow more flexible dosing depending on a patient’s condition and treatment setting. SK Biopharmaceuticals said it has been expanding the drug’s use in clinical practice and is also conducting pediatric clinical development of cenobamate. Based on the adult NDA and pediatric trial results, the company said it plans to gradually expand the eligible age group to include pediatric and adolescent patients. At the 2025 annual meeting of the American Epilepsy Society, the company presented poster data from a pharmacokinetic study comparing the tablet and oral suspension formulations. The two formulations showed generally similar absorption and drug exposure, indicating pharmacokinetic equivalence. Lee Dong-hoon, CEO of SK Biopharmaceuticals, said the oral suspension reflects the treatment needs of patients who struggle to take tablets. He said the company will continue to broaden patient-centered treatment options and address unmet medical needs across different patient groups to expand its prescribing base. * This article has been translated by AI. 2026-04-01 15:15:00
  • Samsung Biologics Completes Purchase of Rockville Biologics Plant From GSK
    Samsung Biologics Completes Purchase of Rockville Biologics Plant From GSK Samsung Biologics said it has completed its acquisition of a manufacturing facility in Rockville, Maryland, adding 60,000 liters of production capacity. The company said Tuesday it finalized the purchase of the biopharmaceutical plant from GlaxoSmithKline on March 31 (local time), about three months after signing the deal in December. The buyer was its U.S. subsidiary, Samsung Biologics America. The Rockville site is a 60,000-liter drug substance (DS) plant made up of two manufacturing buildings. It has infrastructure to produce antibody drugs at various scales, from clinical-stage batches to commercial production. With the acquisition, Samsung Biologics said its total production capacity increased to 845,000 liters from 785,000 liters. The company said the deal strengthens its ability to serve customers in North America and creates a two-hub manufacturing system linking Songdo, South Korea, and Rockville, offering global clients stable and flexible production options. Samsung Biologics said it will retain all of the roughly 500 local specialists at the site to ensure operational continuity. It plans to integrate the two production bases to maintain supply of existing products and step up efforts to win new orders. “This acquisition is meaningful progress in expanding our global manufacturing footprint,” CEO John Rim said. “Together with the Rockville site’s skilled workforce, we will maintain operational continuity and continue a stable supply system.”* This article has been translated by AI. 2026-04-01 11:42:26
  • Hanmi Pharmaceutical Names Hwang Sang-yeon CEO, First Outsider in 53 Years
    Hanmi Pharmaceutical Names Hwang Sang-yeon CEO, First Outsider in 53 Years Hanmi Pharmaceutical is moving to overhaul its management structure by appointing an outside chief executive for the first time in its 53-year history. At its 16th annual shareholders meeting on March 31 at its headquarters in Songpa-gu, Seoul, the company appointed Hwang Sang-yeon, head of the private equity division at HB Investment, as an inside director. Hwang was then named CEO after a board meeting held immediately following the shareholders meeting. Hwang earned bachelor’s and master’s degrees in chemistry from Seoul National University and previously served as head of the research center at Mirae Asset Securities and as CEO of Chong Kun Dang Holdings. With the appointment, CEO Park Jae-hyun, who had been selected with the backing of the owner family’s mother and daughter during a management dispute, will step down after three years in the post. Speaking to reporters after the board meeting, Hwang said he would address concerns by carrying on the late founder Lim Seong-gi’s management philosophy of “respect for people and value creation.” He also pledged to work with employees to lead the company “to the next level” as South Korea’s top drugmaker. Hanmi Pharmaceutical has long relied on internal promotions dating back to Lim’s tenure, but the decision to bring in an outsider is being viewed as a signal of a more aggressive push for organizational change. Shareholders also approved all agenda items as proposed, including the appointment of inside director Kim Na-young and outside directors Han Tae-joon and Kim Tae-yoon. At a separate shareholders meeting held the same day at Hanmi Science, shareholders approved the appointment of Kim Nam-gyu, CEO of La Défense Partners, as a new non-executive director. La Défense is part of a so-called “four-party alliance” with Shin Dong-kook, Song Young-sook, Lim Ju-hyun and La Défense. Kim, a former lawyer, is described as a strategy and legal expert with experience at Samsung Electronics’ legal office and KCGI. La Défense, which holds a 9.81% stake, is expected to exercise more direct influence over management through the board seat. The developments appear to have drawn a line under controversy over interference in Hanmi Pharmaceutical’s management. Last month, Park raised concerns that major shareholder Shin Dong-kook, chairman of Hanyang Precision, was improperly intervening in management. The dispute resurfaced after Song, chair of Hanmi Pharmaceutical Group, voiced support for a professional management system. With Park’s reappointment failing and Hwang being named CEO at this shareholders meeting, the conflict has, for now, eased. Some observers, however, say the leadership change at Hanmi Pharmaceutical and the reshaping of Hanmi Science’s board could open a new phase in competition for control. * This article has been translated by AI. 2026-03-31 14:24:00
  • Korea University Medical Center Plans 700-Bed AI-Driven Hospital in Dongtan by 2035
    Korea University Medical Center Plans 700-Bed AI-Driven Hospital in Dongtan by 2035 “Once a patient is admitted, artificial intelligence immediately matches and assigns a room and medical staff.” That is the vision Korea University Medical Center laid out for its planned “Dongtan Fourth Korea University Hospital,” which it aims to open in 2035. The center said the new facility will build on strengths of its hospitals in Anam, Guro and Ansan while moving beyond limits in integration and expansion, creating a new model: a smart, future hospital powered by autonomous AI. Yoon Eul-sik, vice president for medical affairs at Korea University and head of Korea University Medical Center, held a news briefing Monday at the Four Seasons Hotel Seoul and said the Dongtan hospital would become “a medical hub covering the southern Seoul metropolitan area and a key institution that protects the regional medical delivery system.” He said it would present “a next-generation medical model as an advanced, smart AI-based future hospital.” The hospital is planned as a 700-bed facility, with a target opening in 2035. The center said the AI-based smart hospital will concentrate future medical technologies and infrastructure, including digital pathology, an imaging center, a genetics center and cell therapy center, and a digital-twin preventive management center. It aims to build an optimized, patient-centered precision-medicine workflow and free medical staff from more than 80% of existing administrative work so they can spend more time with patients. Hospital operations are to include an “agentic AI” digital command center. The system would analyze admissions and discharges, bed and operating room utilization, and staffing in real time to allocate resources. The medical center said it expects a seamless patient experience from appointments to care, tests, admission and discharge, while sharply reducing administrative burdens on clinicians. Yoon also emphasized flexibility in design. “Given the pace of technological development, we are separating logistics and clinical routes and designing adaptable spaces that can be quickly reconfigured depending on circumstances,” he said. The Dongtan hospital is also planned as a “life-cycle medical platform” that extends beyond acute care to rehabilitation and long-term support. A convalescent rehabilitation hospital and senior welfare housing would be linked to the main hospital so patients can move from treatment to rehabilitation and return to daily life. The rehabilitation hospital is expected to combine advanced rehabilitation equipment with research, the medical center said. Yoon said the goal is to serve as the “final treatment institution” for southern Gyeonggi Province. He said the medical center aims to move away from a system in which patients with serious illnesses such as cancer and cardiovascular disease are sent to Seoul, and instead build a structure in which treatment is completed within the region. * This article has been translated by AI. 2026-03-30 18:21:09
  • Samsung Biologics Faces First-Ever Strike Threat as Union Vote Tops 95%
    Samsung Biologics Faces First-Ever Strike Threat as Union Vote Tops 95% Samsung Biologics is facing the threat of its first strike since it was founded in 2011. The company’s union said March 29 that 95.52% of eligible voters backed strike action in a completed vote. Of 3,678 eligible voters, the union said, the approval rate reached 95.52%. The union has 3,689 members, about 75% of the company’s workforce. Labor and management have held 13 rounds of wage and collective bargaining talks but have not narrowed their differences. The union is seeking an average 14% pay raise, a 30 million won incentive payment per employee, a profit-sharing bonus equal to 20% of operating profit, and allocations of company shares over three years. It also wants the company to obtain the union’s prior consent when exercising key management and personnel authority. Management has countered with a 6.2% raise, citing standards used at major group affiliates such as Samsung Electronics. Market watchers have raised concerns that a strike could disrupt Samsung Biologics’ 15 trillion won plan to expand production capacity and affect the operating schedule for its contract development and manufacturing (CDMO) plants. The union said it plans to hold informal talks after CEO John Rim returns to South Korea. Union Chairman Park Jae-seong said, “If the company brings an improved proposal during the remaining period, we are willing to talk at any time,” adding that “there is clearly room to compromise at an appropriate level” if management does so. If the two sides fail to reach an agreement, the union said it plans to begin a strike on May 1. 2026-03-29 19:54:00
  • Mideast War, Oil Spike Squeeze South Korea Pharma-Bio Supply Chains and Shipping Costs
    Mideast War, Oil Spike Squeeze South Korea Pharma-Bio Supply Chains and Shipping Costs South Korea’s pharmaceutical and biotech industry is facing a double hit from soaring oil prices tied to a prolonged Middle East war: disruptions in raw-material supplies and higher logistics costs. Major drugmakers are expanding inventories and seeking alternative suppliers amid concerns over shortages of key inputs such as naphtha, while the government is stepping up supply-chain monitoring and exploring joint measures with the industry. Industry officials said Sunday that the Middle East crisis, fueled by the war involving the United States and Israel and Iran, has heightened fears of instability in crude supplies from the region. International oil prices have topped $100 a barrel, setting new record highs. The combination of surging input prices and supply uncertainty is rippling through the sector. With domestic refiners heavily dependent on Middle Eastern crude, supply chains have come under strain and naphtha prices have jumped more than 20% this month. Naphtha is a core material used to make pharmaceutical packaging containers and IV fluid bags, raising concerns across the industry. Suppliers of basic IV solutions, including JW Jungoe Pharm and HK inno.N, are moving urgently to prepare for possible shortages of IV bags. The companies held an emergency meeting with the Ministry of Food and Drug Safety to discuss bringing in alternative materials and freezing inventories, according to industry officials. “If the situation drags on, hospitals could face supply disruptions due to a shortage of IV bags,” a pharmaceutical company official said. Major drugmakers have also taken preemptive steps to secure materials. Yuhan Corp. has stockpiled two to three months’ worth of pharmaceutical packaging materials, and Dong-A Pharmaceutical and Korea United Pharmaceutical have increased inventories through early orders. Rising logistics costs are another pressure point. With oil prices surging, sea and air freight rates have climbed 15% to 20%, pushing up the cost of importing raw materials. Smaller drugmakers said the added burden is difficult to absorb given already thin margins. The food and drug safety ministry is frequently checking the supply of pharmaceutical packaging containers. It is also reviewing regulatory support, including faster approval procedures when changes in packaging materials are needed. A pharmaceutical company official said the business environment is deteriorating rapidly as global instability drives up oil prices, exchange rates and freight costs while worsening uncertainty over raw-material supplies. The official warned that disruptions could lead to imbalances in supplies of essential medicines such as cold remedies and antibiotics, posing a potential threat to health security. Some in the industry said the turmoil should be used to reshape supply chains. A biotech industry executive noted that most domestic companies import active pharmaceutical ingredients, making broader drug production vulnerable if supply chains falter. The executive called for government incentives to raise self-sufficiency in active ingredients.* This article has been translated by AI. 2026-03-29 18:33:21
  • South Korea to Cut Generic Drug Pricing to 45% of Brand-Name Level, Industry Warns of R&D Hit
    South Korea to Cut Generic Drug Pricing to 45% of Brand-Name Level, Industry Warns of R&D Hit The government will lower the benchmark used to set prices for generic drugs to about 45% of the price of original medicines, down from 53.55%. The pharmaceutical industry says the cut, combined with supply uncertainty tied to the Middle East conflict, could curb research and development spending and worsen job insecurity. According to the industry on the 27th, the Health Insurance Policy Deliberation Committee approved the drug-pricing overhaul at a meeting the previous day. It is the first broad revamp since a across-the-board cut in 2012, and the new pricing system is set to take effect in the second half of this year. The Health Ministry said it will phase in the adjustments over 10 years through 2036 to limit the impact on the industry. For drugs already listed, the rollout will be staged based on the listing year, with the first phase covering medicines listed in 2012 and the second phase covering those listed from 2013 onward. The so-called stepwise price cut, previously applied starting with the 20th generic, will be tightened to begin with the 13th generic. The industry has pushed back since the government announced a plan in November to lower generic prices into the 40% range of original drugs. Drugmakers said they could accept a reduction to 48.2%, about 10% lower, but the government proposed lowering the level to “43% or 45%,” leaving the sides at odds. A pharmaceutical company official said concerns have grown because the decision did not settle at 48.2%, adding that the change would begin to weigh on operating profit in earnest starting next year. The official said companies could move beyond cutting costs and selling and administrative expenses to reducing labor costs, raising job insecurity. A small and midsize drugmaker official said an immediate drop in operating profit is unavoidable and that smaller firms, which have limited ability to develop new drugs in the near term, would be hit harder. With raw-material supply instability linked to the Middle East war spreading to the domestic industry, some warned that investment decisions for new-drug development could be halted. A major drugmaker official said operating profit already fell last year and that, considering the coming price cuts, decisions on investment in new-drug development would be “all stop.” The official added that companies’ moves to cut labor costs would also become reality. 2026-03-27 09:09:00