Rising K-Bio Advances to the Global Stage with a Bang

3 Major Bio Exhibitions 'JP Morgan Conference' with Over 30 Companies Participating
JW Jungwoo Pharmaceutical, Hanmi Pharmaceutical, Daewoong Pharmaceutical, and Others Reveal Ongoing Development Status
Annual Increase in Participating Companies... Growing Expectations for Global Technology Exports

[Asia Economy Reporter Cho Hyun-ui] JW Pharmaceutical, which succeeded in exporting technology for the gout treatment drug (URC102) worth 83.6 billion KRW to China last year, is now targeting the US and European markets. The global market size for gout treatment drugs is around 3 trillion KRW, making a jackpot highly likely. The atmosphere at the JP Morgan Healthcare Conference, the 'prelude' to this, is also favorable. JW Pharmaceutical is conducting one-on-one meetings with multinational companies and global investors.

On the 15th, a JW Pharmaceutical official stated, "The gout treatment drug exported to China’s Simcere was based on the first contact made at the global bio exhibition 'BIO USA,'" adding, "We plan to discover partnerships by leveraging the experience gained during the contract process with Simcere and the network we have built with multinational companies."

◆ "Mature Atmosphere for Technology Export" = Since the 13th (local time), about 30 domestic pharmaceutical and bio companies participating in the JP Morgan Healthcare Conference held in San Francisco, USA, have been busy with schedules to achieve technology export results. JW Pharmaceutical will disclose the strategy for expanding the treatment indications and development status of the atopic dermatitis treatment drug (JW1601), which was exported to Danish pharmaceutical company LEO Pharma in 2018. A JW Pharmaceutical official explained, "We plan to expand the treatment indications of this drug to include age-related macular degeneration and allergic conjunctivitis," adding, "If successful, it will become an innovative new drug with a novel mechanism." The global market for age-related macular degeneration treatments is expected to grow to about 14 trillion KRW by 2026.

Other companies are also sending love calls to global investors. Hanmi Pharmaceutical will showcase new drug candidates under development in the fields of immune diseases and rare diseases. It is also expected to mention Rolontis, a neutropenia treatment drug whose US marketing approval decision is expected this year, and oral anticancer drug Oratoxel. Daewoong Pharmaceutical will reveal the global clinical trial plans for the next-generation gastroesophageal reflux disease treatment drug, Pexuprazan.

Some companies have already delivered good news. SK Biopharm’s narcolepsy treatment drug Sunosi is expected to receive European sales approval as early as next week and begin targeting the European market. Jazz Pharmaceuticals, which acquired the technology for Sunosi, announced this at the event and said, "Starting in June with Germany, we plan to launch the product throughout Europe." Daewoong Pharmaceutical signed a partnership agreement with US biotech company A2A Pharma to develop anticancer new drugs using artificial intelligence (AI).

◆ "8 Trillion KRW Last Year, Expected to Increase This Year" = The JP Morgan Conference, one of the world’s top three bio exhibitions, is the largest industry event where healthcare companies and investors from around the world gather. Since one-on-one meetings can lead to future technology exports or joint development, the number of domestic companies participating is increasing every year. Yuhan Corporation, which succeeded in technology export at this event last year, continues investor meetings this year. Voronoi plans to promote five pipelines to 26 global pharmaceutical companies. An industry official explained, "It usually takes about 1 to 2 years from the first contact at such events to achieving technology export results."

Despite last year’s Invossa incident and SillaJen shock, domestic pharmaceutical and bio companies achieved the largest scale of technology exports ever. Not only large pharmaceutical companies but also bio ventures like Bridge Biotherapeutics signed contracts worth trillions. Last year, there were a total of 13 new drug technology export deals, with contract sizes reaching the 8 trillion KRW range. An industry official said, "As the global competitiveness of domestic companies continues to improve, we expect to achieve even more technology export results at this year’s conference than last year."

This content was produced with the assistance of AI translation services.