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

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

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,

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

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

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

Cha Medical and Bio Group said Wednesday that the group will hold the Global Forum on Future Medicine 2023 at Cha Bio Complex in Seongnam, Gyeonggi Province, on Oct. 27. The forum will invite experts in stem cell research, regenerative medicine and cell and gene therapies, as well as officials from the government's regulatory agency. “The forum will provide opportunities for us to share the latest trends and new findings in the stem cell and GCT research areas,” said Yoon Ho-sup

In a wide open space just a few minutes away from Samsung Biologics’ first Bio Campus in Songdo, Incheon, the company’s Plant 5 is under construction. Prefabricated concrete-based frames implemented in a neatly controlled construction environment provide a glimpse into the company's new facility, which would further consolidate the firm’s leadership as the world’s largest contract development and manufacturing organization, or CDMO. On Tuesday, Samsung Biologics, the

Pernod Ricard’s Royal Salute 21-Year-Old Richard Quinn Edition 2 has recently made its world debut in South Korea, where young drinkers are increasingly turning their eyes to high-end whiskeys. The second collaboration with UK fashion designer Richard Quinn "features a deeper and more flavorful blend, and the design is bolder and more colorful," said Pernod Ricard Korea CEO Frantz Hotton in a recent interview with The Korea Herald. “The reason why Korea was selected as the

Celltrion Healthcare, Celltrion's distribution unit, said Monday it has signed a deal with US specialty pharmacy chain CarePartners Pharmacy to sell its Humira biosimilar Yuflyma in the US market. CarePartners Pharmacy is a national pharmacy that distributes medications across all 50 states and Washington DC, focusing on several niche programs, including autoimmune therapies. Under the contract, Yuflyma will be distributed to drug stores operated by CarePartners Pharmacy nationwide, startin

The South Korean government may announce its plan to increase the medical school enrollment quota as early as next week, according to local reports Friday. The government is reportedly reviewing a plan to increase the medical school enrollment quota by 500, from the current quota of 3,058, which has remained unchanged since 2006. If expanded, the new quota will be applied starting in 2025. Minister of Health and Welfare Cho Kyu-hong also said, “We are preparing to reflect it in the 2025 co

KT&G, South Korea's largest tobacco company, said Thursday that the company has started construction of its fourth overseas manufacturing plant in Kazakhstan. The new plant will be built on a 200,000-square-meter site and is scheduled to be completed by 2025. The company did not disclose how much it would invest in the construction of the Kazakhstan plant. “We expect the new Kazakhstan factory to serve as a core global production hub that encompasses the Eurasian market," said KT

Posco Holdings said on Tuesday the company has received 85 billion won ($62 million) in dividends from the third quarter earnings of Roy Hill Holdings, recouping the investment it has made into the holding company of Australian iron ore miner Roy Hill. With the latest dividend payment, Posco Holdings has received a total of 1.3 trillion won in total in the form of dividends and discounts on iron ore that the company imported from Australia, retrieving 1.3 trillion won of investment it made to ac

Asiana Airlines is expected to discuss selling its cargo business as part of Korean Air’s new merger plan, which is facing antitrust concerns in Europe, according to industry sources, Sunday. Sources said the agenda is highly likely to be discussed at a board meeting at the end of the month. Asiana Airlines' potential disposal of its cargo business comes as Korean Air plans to submit an amended merger plan with the smaller rival to the European Commission later this month. The Europ

Lotte Biologics is gearing up for the construction of three drug manufacturing plants with its recent land purchase in Songdo, Incheon, taking its first step on its decadelong journey to become a global contract development and manufacturing organization. Lotte Biologics said the company signed a land purchase agreement with the Incheon Free Economic Zone Authority on Wednesday afternoon. Under the agreement, Lotte Biologics will build three biomanufacturing facilities. Each plant is going to ha

Celltrion announced Wednesday that the company received approval from the US Food and Drug Administration for two more dose versions of its Humira biosimilar Yuflyma, for 20 and 80 milligrams. Yuflyma is a copycat version of AbbVie’s blockbuster drug Humira, used to treat many inflammatory conditions in adults such as rheumatoid arthritis and psoriatic arthritis. With the FDA’s latest approval, Celltrion is now able to sell three different dose versions of Yuflyma in the US. The 40 m

Samsung Biologics has raised the full-year earnings estimate in its company guidance again to 3.6 trillion won ($2.6 billion) for this year, up some 20 percent from last year, according to its regulatory filing released on Wednesday. It was the second time this year for Samsung Biologics to increase the estimate of its annual earnings. Earlier in April, the company raised its estimated earnings from sales to 3.52 trillion won. “(Samsung Biologics) has readjusted (the estimated earnings in

The wealth gap between younger and older adults has widened over the last few years, largely depending on whether they own houses or not, according to the country’s statistics agency, Wednesday. According to the Statistics Korea’s report, the wealth gap between adults aged 40 and above and adults younger than 40 has widened by 45 percent over the last three years, from 160 million won ($118,000) in 2019 to 230 million won in 2022. Kim Mee-roo, a researcher at the Korea Development In

Asiana Airlines’ initial response to a recent midair door-opening incident was "inappropriate" and will be fined for it, the South Korean government's investigation showed, Rep. Park Sang-hyuk of the main opposition Korea Democratic Party said Wednesday. According to a report Park received from the Ministry of Land, Infrastructure and Transport, the ministry has imposed a fine on Asiana Airlines and recommended country’s second largest air carrier take corrective actio

Samsung Biologics said Monday the company participated in CSLA's flagship investor forum which was held in Hong Kong on Sept. 11-14, to promote the company’s vision and business strategy. The investors’ forum, one of the largest of its kind in Asia, is held by CLSA, an institutional broker and investment group owned by CITIC Securities. Around 400 Asian companies and some 3,000 people from the industry joined the latest edition of the forum. Samsung Biologics was the only Korean