“We will develop future oriented ‘Bio’ business”…4 conglomerates in 4 different pespectives
Kim Ji Seob | cloud50@ | 2018-04-11 11:22:27
Major Korean companies such as Samsung, SK, LG, and Kolon Group are approaching each other`s biotechnology sector in different ways.
According to industry sources on April 10, the Samsung Group is building biotechnology to become the mainstay of semiconductors through Samsung Bio Logics, which manufactures and sells Samsung Biotech and biopharmaceuticals. Samsung Biologics has completed the construction of its third plant last year, securing the capacity to produce 360,000 l of biopharmaceuticals, the largest in the world. Samsung Bio Epsilon will launch antibody biosimilars, as well as Japan`s Takeda Pharmaceutical and acute pancreatitis treatment bio-drugs We are developing a comprehensive biotech company.
The SK Group is raising the bio industry with `two roof family systems`. SK Bioparm and SK Biotech, led by SK Group chairman Chey Tae Won, are focusing on developing synthetic medicines and commissioned pharmaceuticals (CMO) respectively. SK Biofarm will finalize the Phase 3 clinical trials of the ongoing epinephrotic drug `Senobamate` and launch products in the US, the world`s largest pharmaceutical market by early next year, and develop new drugs such as neurological disease drugs and Parkinson`s disease drugs to be. SK Biotech has established a marketing organization `SK Biotech USA` in the US in January and plans to increase its production of medicines from current 320,000 ℓ to 800,000 ℓ by 2020 to become a global top 10 CMO company.
Meanwhile, a vice chairman of SK Chemicals is concentrating on vaccines and blood products. SK Chemicals, which developed the world`s first 4-cell culture flu vaccine and developed the world`s second herpes zoster vaccine, has broken the monopoly of multinational pharmaceutical companies, and plans to raise expertise by injecting vaccine business this year. The separate vaccine business will also pursue a separate IPO to attract strategic investments. SK Chemicals has also set a strategy to increase management efficiency by splitting the chemicals division "Green Chemicals" and the pharmaceuticals "Life Sciences" through a transition to holding company structure last December.
LG Chem, on the other hand, absorbed LG Life Sciences last year, setting it as the `Life Science Business Headquarters` and concentrating on vaccines and synthetic drugs. In some areas, however, LG Chem has sought to expand its R & D investment by up to KRW 50 billion annually, investing about 140 billion KRW this year and developing immunotherapeutic drugs and diabetes medicines based on its wealth of financial resources.
The Kolon Group is dedicated to the global market success of Invivo, the world`s first osteoarthritic cell gene therapy drug developed by its persistent investment. Kolon Group has entered the pharmaceutical industry through the acquisition of Samyoung New Pharmaceuticals (now Kolon Pharmaceuticals) in 1983 and has been engaged in the synthetic medicine business, Toshiba (currently Kolon Tissue Jean) and Kolon Life Sciences respectively in 1999. The Kolon Group, which invested KRW 110 billion in development of the company for about 20 years, received the domestic marketing approval of Invo in July of last year and will start clinical trials in the United States starting this month.
Besides, POSCO recently announced that it will increase the bio industry to future food, and announced the further advance of large enterprises. POSCO Chairman Kwon Oh-jun plans to create POSCO`s bio competence and POSCO`s business competence in synergy. POSCO is now known to focus on bio diagnosis. On the other hand, CJ Group decided to sell CJ Healthcare, a pharmaceutical and biotechnology division, to Kolmar Korea in February, and withdrew from the industry that had been in operation for 33 years.
"Pharmaceuticals and biotechnology have a long waiting period and have a complex value chain," said Chung Yun-taek, president of the Korea Institute for Pharmaceutical Industry and Strategy. "Large companies will have enough competitiveness if they approach their strategies strategically based on strong capital."
By Kim Ji Seob cloud50@
[ copyright ⓒ The Digitaltimes ]
According to industry sources on April 10, the Samsung Group is building biotechnology to become the mainstay of semiconductors through Samsung Bio Logics, which manufactures and sells Samsung Biotech and biopharmaceuticals. Samsung Biologics has completed the construction of its third plant last year, securing the capacity to produce 360,000 l of biopharmaceuticals, the largest in the world. Samsung Bio Epsilon will launch antibody biosimilars, as well as Japan`s Takeda Pharmaceutical and acute pancreatitis treatment bio-drugs We are developing a comprehensive biotech company.
The SK Group is raising the bio industry with `two roof family systems`. SK Bioparm and SK Biotech, led by SK Group chairman Chey Tae Won, are focusing on developing synthetic medicines and commissioned pharmaceuticals (CMO) respectively. SK Biofarm will finalize the Phase 3 clinical trials of the ongoing epinephrotic drug `Senobamate` and launch products in the US, the world`s largest pharmaceutical market by early next year, and develop new drugs such as neurological disease drugs and Parkinson`s disease drugs to be. SK Biotech has established a marketing organization `SK Biotech USA` in the US in January and plans to increase its production of medicines from current 320,000 ℓ to 800,000 ℓ by 2020 to become a global top 10 CMO company.
Meanwhile, a vice chairman of SK Chemicals is concentrating on vaccines and blood products. SK Chemicals, which developed the world`s first 4-cell culture flu vaccine and developed the world`s second herpes zoster vaccine, has broken the monopoly of multinational pharmaceutical companies, and plans to raise expertise by injecting vaccine business this year. The separate vaccine business will also pursue a separate IPO to attract strategic investments. SK Chemicals has also set a strategy to increase management efficiency by splitting the chemicals division "Green Chemicals" and the pharmaceuticals "Life Sciences" through a transition to holding company structure last December.
LG Chem, on the other hand, absorbed LG Life Sciences last year, setting it as the `Life Science Business Headquarters` and concentrating on vaccines and synthetic drugs. In some areas, however, LG Chem has sought to expand its R & D investment by up to KRW 50 billion annually, investing about 140 billion KRW this year and developing immunotherapeutic drugs and diabetes medicines based on its wealth of financial resources.
The Kolon Group is dedicated to the global market success of Invivo, the world`s first osteoarthritic cell gene therapy drug developed by its persistent investment. Kolon Group has entered the pharmaceutical industry through the acquisition of Samyoung New Pharmaceuticals (now Kolon Pharmaceuticals) in 1983 and has been engaged in the synthetic medicine business, Toshiba (currently Kolon Tissue Jean) and Kolon Life Sciences respectively in 1999. The Kolon Group, which invested KRW 110 billion in development of the company for about 20 years, received the domestic marketing approval of Invo in July of last year and will start clinical trials in the United States starting this month.
Besides, POSCO recently announced that it will increase the bio industry to future food, and announced the further advance of large enterprises. POSCO Chairman Kwon Oh-jun plans to create POSCO`s bio competence and POSCO`s business competence in synergy. POSCO is now known to focus on bio diagnosis. On the other hand, CJ Group decided to sell CJ Healthcare, a pharmaceutical and biotechnology division, to Kolmar Korea in February, and withdrew from the industry that had been in operation for 33 years.
"Pharmaceuticals and biotechnology have a long waiting period and have a complex value chain," said Chung Yun-taek, president of the Korea Institute for Pharmaceutical Industry and Strategy. "Large companies will have enough competitiveness if they approach their strategies strategically based on strong capital."
By Kim Ji Seob cloud50@