South Korea Active Pharmaceutical Ingredients : South Korea Emerges As A Leader In Active Pharmaceutical Ingredients

South Korea has emerged as a global leader in the pharmaceutical over the past few decades. The country now has a well-established domestic pharmaceutical and is also a major exporter of finished drugs and active pharmaceutical ingredients (APIs) worldwide. South Korea’s pharmaceutical started growing rapidly in the 1980s when the government implemented policies to promote the local production of pharmaceuticals. Several Korean companies like Samsung Biologics, Celltrion, and Hanmi Pharm have since grown to become major global players in biologics and generics manufacturing.

Research And South Korea Active Pharmaceutical Ingredients

South Korean pharmaceutical companies are known for their strong research and development (R&D) capabilities. The government offers significant funding and tax incentives for pharmaceutical R&D. It is estimated that Korean pharmaceutical companies invested over $2.5 billion in R&D in 2020 alone. Major companies like Samsung Biologics, Hanmi Pharmaceutical and GC Pharma have set up extensive R&D centers across South Korea and collaborating with various academic institutions in the country. As a result, many innovative new drugs and biologics are being developed in South Korea for a variety of therapeutic areas like oncology, immunology and neurology. The advanced R&D infrastructure and skilled workforce have enabled South Korean companies to actively file for new drug patents globally.

Active Pharmaceutical Ingredients Production

South Korea has emerged as a major producer and exporter of active pharmaceutical ingredients (APIs) used in drug manufacturing. API production plants in South Korea adhere to the highest international quality and manufacturing standards like cGMP. Due to their efficient production capabilities and competitive pricing, Korean API manufacturers now supply major s in the United States, Europe and Asia. Some of the major South Korean companies involved in API production include Il-Yang Pharm, DSM Sinochem Pharmaceuticals, CSPC Pharmaceutical Group and Piramal Pharma Solutions. These companies manufacture a wide range of APIs across therapeutic areas for both generics and innovative new drugs. South Korea’s API exports have increased significantly over the past decade, reaching about $1.6 billion in 2020.

Growth In Biologics Manufacturing

In recent years, South Korean companies have shifted focus towards large molecule biologics manufacturing. Driven by the capabilities of major players like Samsung Biologics, South Korea is fast emerging as a global biomanufacturing hub. Samsung Biologics alone has the largest biomanufacturing facility in the world with a total production capacity of over 400,000 litres. Other notable Korean companies in the contract development and manufacturing space include Celltrion, GC Pharma and HANMI Pharmaceutical. These companies offer end-to-end services from cell line development to fill/finish for both novel biologics and biosimilars. South Korea’s experience in manufacturing monoclonal antibodies and recombinant proteins has led to significant growth in biologics exports. It is estimated that Korean biologics manufacturing revenue could surpass $10 billion by 2025.

Collaborations With Global Pharma Giants

To further accelerate biologics development and manufacturing, Korean companies are actively partnering with major global pharmaceutical firms. For instance, Samsung Biologics has signed agreements worth billions of dollars with companies like Roche, Pfizer and Biogen for producing their blockbuster biologics. Similarly, Celltrion has numerous partnerships for developing and commercializing biosimilars in s outside Asia. These collaborations are helping Korean companies acquire new technologies, expand global footprint and diversify their revenue streams beyond the domestic . In turn, global drug makers are gaining access to high-quality and cost-effective biomanufacturing capacities in South Korea. Such partnerships are strengthening Korea’s position as a preferred global outsourcing destination for biologics.

Government Support 

The South Korean government recognizes the pharmaceutical as a key economic sector and offers its strong support through various initiatives. Major pillars of the government support include substantial funding for pharmaceutical R&D, incentives for setting up manufacturing plants and partnering with global companies. Significant tax breaks and subsidies are provided under the ‘Korean New Deal’ program to support investments in biologics manufacturing, digital health and novel drug development.

The government also helps facilitate tie-ups between and leading academic research centers in South Korea. Regulatory policies are constantly upgraded to global standards to enhance the country’s competitiveness in clinical trials and new drug approvals. If the consistent government backing continues, South Korea is well-positioned to emerge as a top global player in pharmaceuticals and biotechnology over the long term.




Get more insights on this topic: https://www.dailyprbulletin.com/south-korea-active-pharmaceutical-ingredients-south-korea-leading-the-way-in-active-pharmaceutical-ingredients-production/

 

Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn:  https://www.linkedin.com/in/alice-mutum-3b247b137%20)

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