[COVID-19 Transformation] 'Changed Status' of K-Bio, a Global Top Opportunity

Post-Corona, an Era of Great Transformation
<2> The War Against the Virus

Korean Diagnostic Kits, Towards International Standards

Minister Choi Ki-young of the Ministry of Science and ICT (right) is listening to an explanation about the COVID-19 diagnostic kit from Cheon Jong-yoon, CEO of Seegene, ahead of the "COVID-19 Diagnostic Reagent Company On-site Meeting" held on the afternoon of the 26th at Seegene, a COVID-19 diagnostic company in Songpa-gu, Seoul.

[Asia Economy Reporters Choi Dae-yeol, Kim Heung-soon] Among the candidates for COVID-19 treatments, Remdesivir is currently the furthest along. Developed by the American pharmaceutical company Gilead as an Ebola virus treatment but later discontinued, it showed effectiveness when used on some patients, leading to the immediate start of Phase 3 clinical trials.

Gilead rose to global prominence during the 2009 H1N1 flu pandemic by producing the antiviral drug Tamiflu. Founded as a venture company in 1987, this was a major success within about 20 years of its establishment. Considering that new drug development typically takes around 10 years and the pharmaceutical and biotech industries are dominated by long-established large companies, this is a rare case. Reviewing Gilead’s history of persistently challenging areas considered difficult to approach offers significant implications for Korea’s pharmaceutical and biotech industries and research institutions. It shows that a long history is not necessarily required to compete in the global market.

As the demand for Korean diagnostic kits has increased due to the spread of COVID-19, the world is paying attention to Korea’s quarantine and medical systems. The K-quarantine model, showcased through diagnostic kits as well as mobile and walk-in screening systems during this phase, is expected to become a global standard by the end of this year or next year.

The spotlight on Korean diagnostic kits is no coincidence. It is the result of the in vitro diagnostics industry analyzing virus information by monitoring trends in China even before patients appeared domestically, the quarantine and regulatory authorities activating the emergency use authorization system introduced to avoid repeating mistakes made during the 2015 Middle East Respiratory Syndrome (MERS) outbreak, and the rapid verification by expert groups to improve test accuracy. Although in vitro diagnostics is just one field among many medical devices, its importance has been highlighted in the recent situation, increasing the likelihood that global perspectives on K-bio will change during the process of managing the crisis.

Experts predict that the global pharmaceutical and biotech industries will undergo significant changes after this crisis. The collapse of global supply chains has immediately disrupted the supply of medical devices and active pharmaceutical ingredients necessary for patient treatment, prompting governments worldwide to recognize the importance of the health industry anew. While research and development have been impacted due to the suspension of various clinical trials and academic conferences, the competition to develop vaccines and treatments to conquer COVID-19 has intensified. According to the U.S. National Institutes of Health, there are 466 COVID-19 related clinical trials worldwide, more than eight times the number compared to mid-March.

Song Si-young, Chair of the National Biohealth Industry Innovation Strategy Promotion Committee, stated, "Advanced countries have responded by building an open innovation system with global expert groups externally, and internally by integrating basic, translational, and clinical research with investors and companies." He added, "A single national control tower is absolutely necessary for convergence-focused health and medical research and development and industrialization."

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