Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
Daewoong aims to reshape obesity market with patch-type treatment
Daewoong Pharmaceutical said Monday the company will develop a microneedle-based obesity treatment drug. The South Korean pharmaceutical company aims to start a phase 1 clinical trial next year and launch the treatment in 2028. Daewoong Pharmaceutical’s new obesity treatment will contain a synthetic peptide semaglutide, which is similar to glucagon-like peptide-1 (GLP-1), a hormone produced in the gut released in response to food to reduce appetite and the release of insulin. The patch-typ
Industry Nov. 6, 2023
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[KH explains] Korean Air-Asiana merger may gain traction, yet challenges linger
Korean Air's acquisition of Asiana Airlines got a step closer to getting antitrust approval from the European Commission, as the nation’s largest air carrier submitted a revised merger plan that includes a selloff of Asiana’s cargo operation and giving up more routes to European cities. Industry watchers, however, say uncertainty remains about the high-profile 1.8 trillion won ($1.3 billion) deal that also awaits approval from Japan and the US. “The chances are now higher
Industry Nov. 5, 2023
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Asiana Airlines to sell cargo biz to smooth merger
The board of Asiana Airlines, the nation’s second-largest air carrier, on Thursday approved a plan to sell off the company’s cargo business, a decision widely seen as crucial for its high-profile merger with its bigger rival Korean Air. Asiana said in a regulatory filing that its board approved the sell-off plan. Korean Air said in the afternoon that the company had immediately submitted its revised merger plan, including Asiana’s cargo unit sell-off, to the European Commission
Industry Nov. 2, 2023
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Paris Baguette inks sponsorship deal with Paris Saint-Germain
Paris Baguette, South Korean bakery giant SPC Group's flagship bakery chain, announced Thursday that the company has signed a sponsorship deal with French football club Paris Saint-Germain. Of around 30 companies that have partnered with the Paris-based football club, including Nike, Qatar Airways, Coca-Cola and McDonald’s, Paris Baguette is the only Korean brand. Paris Saint-Germain is an internationally popular French football club which is widely known for its superstar, Kylian Mba
Industry Nov. 2, 2023
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Posco secures W6tr supply deal from Lotte Energy Materials
Posco International announced Wednesday that the company will provide 6 trillion won ($4.4 billion) worth of raw materials for Lotte Energy Materials’ high-end copper foil production. Posco International said the company and Lotte Energy Materials signed a memorandum of understanding at Signiel Seoul on Wednesday. Under the agreement, Posco International will supply around 600,000 tons of raw materials to Lotte Energy Materials through 2033. The two companies have also established a joint
Industry Nov. 1, 2023
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Celltrion wins UNDP tender to supply anticancer treatments to Turkmenistan
Celltrion Healthcare, South Korean biosimilar giant Celltrion’s sales unit, announced Wednesday that the company has won the United Nations Development Program’s tender to supply anticancer drugs to Turkmenistan. The UNDP is a UN agency dedicated to eradicating poverty and reducing inequalities through the sustainable development of nations in more than 170 countries and territories. Celltrion Healthcare said the company joined the tender that opened in May this year, and that the re
Industry Nov. 1, 2023
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Asiana Airlines delays decision on cargo business sell-off
Asiana Airlines board members plan to hold another round of meetings soon after they failed to reach an agreement on the previous day on whether to sell the air carrier’s cargo business to clear the way for approval of its planned merger with Korean Air. On Monday, Asiana’s five board directors discussed the sell-off plans but failed to reduce their differences even after a seven-hour meeting. Some members reportedly opposed the plans, saying that the sale of the cargo unit could pot
Industry Oct. 31, 2023
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Lotte Biologics to begin ADC production in 2025
BARCELONA, Spain -- Lotte Biologics will begin antibody-drug conjugate manufacturing at its site near Syracuse, New York, starting in the first quarter of 2025, according to CEO Lee Won-jik, who also goes by Richard Lee. The company expects its ADC production to account for some 10 percent of its total sales in 10 years, Lee added. “Lotte Biologics is building an ADC facility within its Syracuse facilities. The company expects the construction to be completed by 2024 and the operation to b
Industry Oct. 30, 2023
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Daewoong eyes W1tr in new drug sales by 2030
Daewoong Pharmaceutical announced that the company aims for annual sales of its two new drugs, gastroesophageal reflux treatment Fexuclue and diabetes drug Envlo, to reach 1 trillion won ($736 million) by 2030. "Daewoong Pharmaceutical anticipates new launches and outlicensing deals involving Fexuclue and Envlo in the global pharmaceutical market," said Kim Do-young, head of Daewoong Pharmaceutical's Global Business Development Center, during a press conference held at the com
Industry Oct. 26, 2023
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After revenue milestone, Samsung Biologics presses home its advantage
Samsung Biologics is investing in new production facilities and exploring opportunities in new business areas after milestone revenue in the third quarter. "Now is the time for us to prepare for the next phase with a new modality and overwhelming production capability," Samsung Biologics CEO John Rim said during a press conference on Wednesday, held in Barcelona in line with the company’s participation in the Convention on Pharmaceutical Ingredients (CPHI) Worldwide 2023. This
Industry Oct. 26, 2023
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Prestige Biopharma eyes complete value chain
BARCELONA, Spain – Prestige Biopharma, a Kospi-listed biopharmaceutical firm based in Singapore, said Tuesday it is seeking to complete its value chain of new drug development with its upcoming research center in Busan. “Prestige Biopharma’s research and development of antibody drugs will pick up speed after the company opens its new research center in Busan,” Prestige Biopharma Chairman Park So-yeon told reporters at the Convention on Pharmaceutical Ingredients (CPHI) Wo
Industry Oct. 25, 2023
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SK Pharmteco bets big on cell, gene therapy
BARCELONA, Spain -- SK Pharmteco, SK Inc.’s contract bio-manufacturing subsidiary, said the company’s burgeoning cell and gene therapy (CGT) business will become its new growth engine. “We continue to expand our CGT business, and the capacity we are building over the next years will allow us to grow this business,” SK Pharmteco CEO Joerg Ahlgrimm said during a press conference Tuesday held on the sidelines of the Convention on Pharmaceutical Ingredients (CPHI) Worldwide,
Industry Oct. 25, 2023
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Samsung chief bolsters ties with Japanese partners
Samsung Electronics Executive Chairman Lee Jae-yong met with a group of top executives from Japanese electronic parts vendors for their annual meeting in Seoul, which had been suspended due to the COVID-19 pandemic, according to industry sources, Sunday. The annual meeting between Samsung and its Japanese electronic parts makers is known as “Lee Kun-hee and his Japanese Friends,” or LJF for short. The meeting was established in 1993 by the executive chairman's father, the late S
Industry Oct. 22, 2023
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Paris Baguette’s 500th overseas store opens in Singapore
South Korean bakery giant SPC Group announced Sunday that the number of its overseas Paris Baguette stores has reached 500, with the latest opening in Singapore. The 500th store opened at Terminal 2 of Changi International Airport as part of the bakery chain’s expansion into Asia and the Middle East. “The group will continue its expansion in the US and China, while making a foray into the global halal food market, which has 1.9 billion potential customers representing some 24 percent
Industry Oct. 22, 2023
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Samsung Bioepis launches Soliris biosimilar in Europe
Samsung Bioepis, a biosimilar developer under Samsung Group, said Thursday that the company has completed the launches of its hematology biosimilar Epysqli, a biosimilar close to Soliris, in three European countries, hoping to gain ground in the rare blood disease biosimilar market. According to Samsung Bioepis, the company introduced Epysqli in Germany in July, and the biosimilar made its debut in Italy and Spain last month. Samsung Bioepis is also preparing for Epysqli’s launch in France
Industry Oct. 19, 2023
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