HONG KONG – Invossa-K, a first-in-class cell and gene therapy that made headlines in 2017 when South Korean regulators cleared its use to treat osteoarthritis of the knee, is now on the verge of being phased out of the domestic market at least for one year and possibly for good, after being hit by a scandal involving its component ingredients.

HONG KONG – To get new drugs to market faster, the South Korean government has plans that could see approval periods for biopharmaceuticals cut drastically, as part of its ongoing efforts to improve regulations and prompt greater investment in the biotechnology and health care industries, increasingly seen as a key pillar of economic growth.

HONG KONG – Seeking to expand its presence in Europe, Shionogi & Co. Ltd. inked a contract with Italian firm Molteni Farmaceutici SpA to distribute Rizmoic (naldemedine), its treatment for opioid-induced constipation (OIC), in Italy and Poland, and plans to export two additional drugs, cefiderocol and lusutrombopag, to the European market.

HONG KONG – To get new drugs to the market faster, the South Korean government has plans that could see approval periods for biopharmaceuticals cut drastically, as part of its ongoing efforts to improve regulations and prompt greater investing in the biotechnology and health care industries, increasingly seen as a key pillar of economic growth.

HONG KONG – Seeking to expand its presence in Europe, Shionogi & Co. Ltd. inked a contract with Italian firm Molteni Farmaceutici SpA to distribute Rizmoic (naldemedine), its treatment for opioid-induced constipation (OIC), in Italy and Poland, and plans to export two additional drugs, cefiderocol and lusutrombopag, to the European market.

HONG KONG – Celltrion Inc., a South Korean biopharma known for Remsima (infliximab), the first biosimilar monoclonal antibody to gain EMA approval, plans to invest more than $33 billion over the next decade to build itself into a top global player and develop Korea as a biomedical hub.

HONG KONG – Pharmaceutical manufacturer Huons Co. Ltd. and biopharmaceutical research and development venture Genexine Inc. inked a memorandum of understanding for a deal, under which they will combine Genexine's biobetters and rare disease pipeline with Huons' existing global commercial network.

HONG KONG – The Korea Cancer Biomarker Consortium (KCBC), a research group of 13 university hospitals in South Korea, and South Korean biotech Cbsbioscience Inc. inked a deal with medical research institutes in Italy and Japan to develop biomarkers aimed at improving the efficiency of cancer drugs.