Journalist

Park Boram
  • Daewoong Pharma in talks with Saudi government to build bio, drug production ecosystem
    Daewoong Pharma in talks with Saudi government to build bio, drug production ecosystem SEOUL, October 17 (AJP) - South Korea's Daewoong Pharmaceutical said Friday it has begun discussions with the Saudi Arabian government on introducing innovative drugs and developing a biotechnology ecosystem that includes research, development, and manufacturing investments. The talks reflect Saudi Arabia’s growing ambition to localize pharmaceutical production and expand its bio-manufacturing capacity as part of its broader economic diversification strategy under Vision 2030. Saudi Deputy Health Minister Khalid Alburaikan and Strategic Cooperation Director Sarah Aref recently visited Daewoong’s headquarters in Seoul, where they met with company executives to discuss collaboration opportunities. The discussions centered on drug development, clinical research, and the establishment of production facilities in the kingdom, the company said. Officials from South Korea’s Ministry of Health and Welfare and the Korea Health Industry Development Institute also attended the meeting. Saudi Arabia, the largest pharmaceutical market in the Middle East, was valued at about $13 billion last year and is projected to grow to $19 billion by 2030. The government has been accelerating efforts to strengthen pharmaceutical self-sufficiency and attract global investment into its bio sector. Daewoong, one of South Korea’s leading drugmakers, launched its botulinum toxin product Nabota in Saudi Arabia earlier this year and plans to introduce additional treatments, including Fexuclu for gastroesophageal reflux disease and Enblo, an SGLT-2 inhibitor for diabetes. The company said the recent discussions also covered cooperation on local clinical trials and regulatory approvals. Daewoong plans to participate in the Saudi Global Health Exhibition in Riyadh later this month and will host its global training program for medical professionals in Saudi Arabia by the end of the year. “We confirmed that Saudi Arabia’s vision for its pharmaceutical and bio industries aligns with Daewoong’s global cooperation goals,” said Park Sung-soo, the company’s chief executive. “We hope to contribute to the growth of Saudi Arabia’s bio industry and improve the quality of life for local consumers through long-term collaboration.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 14:13:00
  • Korean firm wins manufacturing contract for US shingles vaccine
    Korean firm wins manufacturing contract for US shingles vaccine SEOUL, October 13 (AJP) - South Korea's GC Biopharma said Monday it has secured contract manufacturing rights for a shingles vaccine being developed by its U.S. affiliate, Curevo Vaccine. Under the agreement, GC Biopharma will produce part of the commercial supply of the vaccine, known by its project name amezosvatein (CRV-101). The product aims to challenge GlaxoSmithKline’s Shingrix, which has dominated the shingles vaccine market for years. The global market for shingles vaccines has expanded rapidly, driven by aging populations and rising awareness of preventive care. Since Shingrix’s commercial launch in 2018, annual sales have grown nearly 20 percent each year, from roughly 1 trillion won ($730 million) in 2017 to about 6 trillion won ($4.4 billion) in 2024. The GSK vaccine accounted for more than 90 percent of global market share last year, with sales exceeding 5 trillion won ($3.4 billion). Amezosvatein, like Shingrix, is a recombinant protein vaccine with an adjuvant designed to boost immune response. But Curevo’s version uses a synthetic adjuvant, which researchers say may reduce injection site pain and systemic reactions — potentially improving patient tolerability. Early Phase 2 trials have shown that amezosvatein achieved non-inferiority to existing products while demonstrating favorable safety results, according to GC Biopharma. Curevo is now conducting an expanded Phase 2 trial involving 640 adults aged 50 and older, with plans to complete the study by 2026 and advance to Phase 3 thereafter. “This agreement marks a significant milestone in securing GC Biopharma’s long-term growth drivers,” said CEO Huh Eun-chul. “We will continue to expand our presence in the global vaccine business and strengthen our role in high-value biopharmaceutical manufacturing.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-13 15:36:09
  • Discount stores crowd Koreas $5 billion health supplement market
    Discount stores crowd Korea's $5 billion health supplement market SEOUL, October 08 (AJP) - The race for South Korea’s fast-growing health and dietary supplement market is intensifying as bargain retailers and convenience stores challenge traditional drugstores for a share of a wellness-driven, aging society where eight out of 10 households regularly take preventive supplements. According to Expert Market Research, Korea’s health supplement market was valued at $5.45 billion in 2024 and is projected to expand at a compound annual growth rate of 5.2 percent, reaching $9 billion by 2034. A separate survey by the Korea Health Supplements Association found 81.2 percent of Korean households purchased health supplements in 2023. The surge in both online and offline distribution channels to meet this demand is reshaping the market structure. Daiso and convenience store chains are entering the space with low-cost, easy-access options, while the Korean Pharmaceutical Association is partnering with major drugmakers to develop pharmacy-exclusive products. ] Daiso, a popular budget franchise, has teamed up with domestic drugmakers such as Daewoong Pharmaceutical, which released 26 products priced between 3,000 and 5,000 won ($3.5) for a month’s supply. Jongkundang Health also introduced its competitively priced probiotics “Lactofit Gold” line. “We offer a variety of products like vitamins and probiotics, mostly priced at 3,000 or 5,000 won,” a Daiso official said. Convenience stores are likewise expanding their shelves. Dong-A Pharmaceutical launched its “Cellparex Baro” line exclusively through CU stores, targeting single-person households with five- to ten-day packs. “We aim to provide products that address modern health concerns with immediacy and convenience,” a Dong-A representative said. The industry is closely watching how the market evolves in the latter half of the year as low-price, convenience-driven products go head-to-head with pharmacy-exclusive, trust-based brands. In response to Daiso’s push, the Korean Pharmaceutical Association signed MOUs with Yuhan Corporation and Dong-A Pharmaceutical to co-develop affordable supplements sold exclusively through pharmacies. Eight new Yuhan-made products are due by year-end, and Dong-A’s lineup will debut in October. With online availability expanding rapidly, experts are also warning of potential misuse. “With increased accessibility, improper guidance could lead to overuse or misuse,” an industry insider said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-08 09:12:57
  • SK Biopharms US arm posts record sales of epilepsy drug
    SK Biopharm's US arm posts record sales of epilepsy drug SEOUL, October 02 (AJP) - SK Life Science, the U.S. subsidiary of South Korea’s SK Biopharm, reported record sales of its epilepsy treatment cenobamate in the first half of this year, reaching 170,000 cumulative prescriptions. The company highlighted the achievement during its annual “Plan of Action” meeting in Chicago, as it looks to build momentum in one of the world’s most competitive pharmaceutical markets. More than 130 employees from SK Life Science and SK Biopharm gathered from Sept. 29 to Oct. 1 to review performance and outline next steps. Executives said the results marked the strongest sales since Xcopri, as the drug is marketed in the United States, was introduced in 2020. The Chicago meeting, now in its sixth year, also brought in senior staff from the Seoul headquarters to reinforce collaboration between the U.S. unit and its parent company. The event was designed not only to showcase achievements but also to motivate employees ahead of the next growth phase. SK Biopharm, which became the first South Korean drugmaker to build a direct sales operation in the United States, plans to leverage cenobamate’s success to expand its portfolio. “SK Biopharm stands at a crucial turning point to diversify our portfolio and target both current and future markets,” said Lee Dong-hoon, the company’s chief executive. “We expect all divisions to collaborate as one team to create greater synergy.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-02 14:04:06