Seeking Opportunities to Enter the UK Pharma-Bio Market... 'Korea-UK Life Sciences Webinar' Held

March 8 Jointly Hosted by Korea Pharmaceutical Bio Association and British Embassy in Korea
Seeking Open Innovation Collaboration with UK MedCity and Others

[Asia Economy Reporter Lee Gwan-joo] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on the 25th that it will jointly host the "Korea-UK Life Sciences Webinar" with the British Embassy in Korea on the 8th of next month from 4:30 PM.

This event will be conducted via Zoom for domestic pharmaceutical and bio-industry stakeholders interested in entering the UK pharmaceutical market. Each presentation will be pre-recorded with Korean subtitles provided, and during the subsequent Q&A session, the speakers will participate in real-time to communicate with domestic companies.

In particular, this webinar will feature key representatives from the UK government and core institutions of the UK bio-cluster as speakers, highlighting the current status of the UK life sciences ecosystem and presenting market entry strategies for Korean companies. First, Jiansheng Du, Deputy Director of the UK Department for International Trade (DIT), will explain the "UK Biopharmaceutical Sector," followed by Ivana Poparic, Head of MedCity Cluster Development, presenting on "MedCity and the Life Sciences Ecosystem." Lastly, Kasia Averall, Head of Cell and Gene Therapy Catapult, will introduce the "Cell and Gene Therapy Catapult."

The UK Department for International Trade (DIT) provides expert consulting and tailored information to help foreign companies establish themselves in the UK market. MedCity fosters an ecosystem in the Golden Triangle region connecting London, Cambridge, and Oxford, where research, commercialization, startups, and investment in life sciences are organically integrated. The Cell and Gene Therapy Catapult is a UK government-established nonprofit organization in the life sciences sector aimed at bridging the gap between basic research and commercialization to nurture related industries.

The association signed a Memorandum of Understanding (MOU) with MedCity when it dispatched a pharmaceutical and bio-industry delegation to the UK in 2019 and has continued exchanges by holding four joint symposiums over the past three years. Through this webinar, the association plans to expand exchanges with key institutions including MedCity and accelerate the entry of domestic pharmaceutical and bio companies into the UK market.

According to the Korea Health Industry Development Institute, the UK pharmaceutical market is estimated at $42 billion (approximately 50 trillion KRW). The UK life sciences industry employs about 240,000 people and records annual sales of ?70 billion (approximately 113 trillion KRW). It possesses world-class universities, clinical capabilities accumulated through the UK National Health Service (NHS), and one of the leading bio-clusters globally, second only to the US. The UK government is focusing policy support, having announced a new life sciences vision last year, and the industry is expected to grow even more rapidly in the future.

An association official said, "This webinar was prepared to introduce the current status of the UK life sciences industry and its industrial promotion institutions to Korea and to secure more opportunities for domestic companies to enter the UK market," adding, "We hope it will be an opportunity to strategically collaborate with excellent UK universities, research institutes, and life sciences companies." Pre-registration for this webinar is available on the Korea Pharmaceutical and Bio-Pharma Manufacturers Association website until March 6.

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