Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
Celltrion, LISCure Biosciences to develop microbiome therapy for Parkinson's disease
Celltrion announced on Friday that the company has signed a joint research and development contract with LISCure Biosciences for a microbiome-based Parkinson's disease treatment. LISCure Biosciences is a Pangyo-based biotech company that conducts research for microbiome-based treatment for Parkinson's disease. The biotech currently has an oral microbiome drug development pipeline for Parkinson's disease, called LB-P4. Under the contract, the two companies aim to co-develop live bi
Technology Feb. 17, 2023
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Uncertainty ahead for Lotte's venture into CDMO
Lotte Group, the country's fifth largest conglomerate, hopes its biopharmaceutical contract manufacturing arm will become a future engine of growth, following in the footsteps of Samsung. But the road ahead remains uncertain as Lotte is still in the early stages of the business. According to industry sources, Lotte Biologics is expected to face a myriad of challenges when it comes to finding a foothold in the market, with issues from price competitiveness to talent recruitment. In 2022, t
Technology Feb. 16, 2023
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SK Biopharmaceuticals makes big sales pitch in US
SK Biopharmaceuticals on Wednesday said its subsidiary SK Life Science is holding sales meetings in the US this week to boost sales of its seizure medicine cenobamate in the all-important market. Cenobamate, which is sold under the brand name of Xcopri, was approved in 2019 for partial-onset seizures in adults. The company has held the promotional event traveling across the US for the fourth consecutive year with an aim of strengthening its sales network and sharing its business plans with partn
Technology Feb. 15, 2023
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BAT launches new Glo to take on KT&G, PMI
British American Tobacco’s South Korean branch announced Tuesday that the company will launch a new tobacco heating product, Glo Hyper X2, this month, in a bid to increase its share in the South Korean market. According to BAT Rothmans, the Korean arm of BAT, Glo Hyper X2 will be available on Feb. 27 at convenience stores and online e-commerce platforms. The new device is priced at 40,000 won ($31.56). “South Korea is making a significant contribution to BAT,” said BAT Rothmans
Consumer Feb. 14, 2023
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Hugel, Huons stress no ties to Medytox's botox patent
South Korean botulinum toxin manufacturers Hugel and Huons Biopharma announced Monday that the latest court ruling on a legal dispute between Medytox and Daewoong will not influence their botulinum toxin businesses, saying that their botulinum toxin strains would not face patent issues with Medytox. Hugel and Huons Biopharma are South Korean firms selling botulinum toxin products under the brand names Letybo and Liztox, respectively. The two companies’ announcements came after the Seoul Ce
Technology Feb. 13, 2023
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ABL Bio turns to profit in 2022
ABL Bio, a South Korean drug maker, announced Monday that the company turned a profit last year, backed by milestone payments it received under licensing-out deals. ABL Bio said its annual sales in 2022 went up 1162.1 percent to reach 67.3 billion won ($52.7 million). The company’s annual operating profit came to 900 million won during the same period. ABL Bio’s sales in the previous year came to 5.3 billion won, while its operating loss reached 52.3 billion won. ABL Bio’s lice
Technology Feb. 13, 2023
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Animal drugs have long way to go despite surging pet population
The domestic veterinary medicine market appears to be expanding, given the myriad of new pet health care products coming out in the market. Yet local firms are struggling to expand due to low marketability, according to industry sources. “The domestic veterinary drug market is a red ocean,” said an official from a local pharmaceutical company that has been selling veterinary medicines for decades in the country. “With global drug giants already dominating the nascent market, lo
Technology Feb. 12, 2023
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SK Bioscience to invest W330b for Songdo relocation
SK Bioscience will invest a total of 325.7 billion won ($258 million) for the relocation of its research and production base to Songdo, Incheon, according to the company on Thursday. The new complex will have new R&D and production facilities as well as the company's new headquarters. The Songdo Global Research & Process Development Center will be built on a plot of land measuring 30,413.8 square meters, which the company purchased for 41.9 billion won. When the construction is comp
Technology Feb. 9, 2023
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Foreign shoppers flock back as pandemic nears its end
International shoppers are returning to South Korea amid eased virus restrictions, seeing sales rebound for local department stores. Hanwha Galleria, the retail arm of the Hanwha Group, said on Tuesday that sales in the luxury goods section at the Galleria Department Store in Apgujeong-dong, a posh shopping district in southern Seoul, had increased by 500 percent on-year between August and January. Hanwha Galleria’s Apgujeong branch is one of the most popular tourist destinations in Gangna
Consumer Feb. 7, 2023
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Chong Kun Dang signs licensing deal with Synaffix to develop ADCs
Korean pharmaceutical firm Chong Kun Dang said Monday that it signed a licensing deal with Dutch company Synaffix to gain access to the latter's technologies needed to develop new antibody drug conjugates. The size of the deal, which was inked Friday, is estimated at around $132 million, plus tiered royalties on commercial sales in the future. “The company will speed up development of next-generation anti-cancer treatment through the latest deal with Synaffix,” said Chong Kun Da
Technology Feb. 6, 2023
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SK Bioscience expected to log 70% drop in profit as COVID vaccine demand dwindles
Korean biopharmaceutical firm SK Bioscience is expected to log a sharp decline in its sales and operating profit for 2022, as demand wanes for COVID-19 vaccines, its key source of revenue, according to a report from a local securities firm on Friday. The company’s annual sales for last year are expected to drop 49 percent on-year to 474.2 billion won ($385.7 million), while its operating profit is also expected to plunge 70.3 percent to 141 billion won, the report released by Meritz Securi
Technology Feb. 3, 2023
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Mask manufacturers face bankruptcy amid eased masking rules
The government’s decision to lift its indoor mask mandate has been welcomed by many, but it is being seen as a giant threat to the survival of mask manufacturers already struggling to stay afloat here. "We are just hanging in there,” Jung, an owner of a small mask manufacturing company, told The Korea Herald. “It will be difficult to hold out if the current situation continues.” Local manufacturers are now suffering from shrinking mask demand. Many manufacturers have
Industry Feb. 2, 2023
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HLB's anticancer drug receives greenlight in China
The combination use of Jiangsu Hengrui Medicine’s camrelizumab and HLB Bio’s rivoceranib has received a novel drug approval from the National Medical Products Administration of China, HLB Bio announced Wednesday. With the approval, the camrelizumab-rivoceranib combination can be used as the first-line treatment for patients with unresectable hepatocellular carcinoma in China. The approval was given three years and nine months after the company started its phase 3 clinical trial April
Technology Feb. 1, 2023
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Daewoo E&C posts record earnings on robust housing projects
Daewoo Engineering & Construction has posted an annual operating profit of 760 billion won ($617 million), an all-time high in the company’s history. Daewoo E&C’s operating profit in 2022 was up 2.9 percent from the previous year’s 738.3 billion won, according to a regulatory filing released Tuesday. Annual sales last year reached 10.4 trillion won, up 20 percent from 8.6 trillion won in 2021. The construction company also reported that its 2022 net profit reached 508 b
Industry Jan. 31, 2023
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Posco, Western Australia to boost ties on hydrogen, batteries
Posco Group Chairman Choi Jeong-woo met with Western Australia Premier Mark McGowan on Monday to discuss their cooperation on hydrogen and secondary battery materials businesses, the company said Tuesday. Posco “needs an intimate collaboration with Australia on hydrogen and secondary battery materials sectors,” Choi said during his meeting with McGowan at Posco Center in Gangnam-gu, Seoul. During the meeting, Choi and McGowan shared their development status and business strategies re
Industry Jan. 31, 2023
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