Some of the Asia-Pacific region's major countries can expect continued increases in pharmaceutical expenditures during the third quarter, led, surprisingly, by Pakistan.
South Korea's Green Cross Holdings and POSCO Capital joined to buy a $7.5 million stake in U.S.-based Juventas Therapeutics, pushing a regenerative and biologics growth strategy that has seen recent deals in China and Russia.
South Korea's Green Cross Holdings said its planned manufacturing operations in China dedicated to cell therapies, including T cells and stem cells for treating serious diseases, fits in with expected growing demand in for the products.
Forget the U.S. pharma/biotech bubble speculation and keep an eye on South Korea's Kosdaq, Reuters reports, adding that some firms are now trading at hundreds to tens of thousands of times earnings.
The buzz around biotech in Asia has centered on friends and family bootstrap operations in China, local investor support in Taiwan and onto more formal state-backed incubation efforts in Japan, South Korea and Singapore along with boutique venture capital firms and investment arms of multinationals such as Eli Lilly Ventures.
A survey of the top 100 makers of medical devices in Asia indicates the industry will reach the $15 billion mark in 2017, a huge leap from a market of just $2 billion in 2012.
The operators of a pair of private hospital networks, one in Japan and the other in South Korea, signed a memorandum of understanding to cooperate on research into regenerative medicine, the work ranging from education activities to clinical applications.
Seunghee Kim, a veteran member of South Korea's Ministry of Food and Drug Safety, has been named to become its first female minister. Kim has a pharmacology degree from Seoul National University and a doctorate in biochemistry from Notre Dame.
South Korea has a wealth of statistics about the near future of healthcare needs in the country, but no apparent solutions for how to deal with an elderly population about to drain its coffers.
Samsung Pharmaceutical will manufacture and sell GemVax & KAEL Co. pancreatic cancer vaccine Riavax in South Korea.