Korea Pharmaceutical and Bio-Pharma Association Establishes 'Digital Health Committee'... Establishing a Hub for Digital Health

Korea Pharmaceutical and Bio-Pharma Manufacturers Association building.

[Asia Economy Reporter Lee Gwan-joo] A hub will be established to support the development of digital healthcare-linked projects such as digital therapeutics in the domestic pharmaceutical and bio industry and to respond to the paradigm shift of convergence in the pharmaceutical industry.

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association recently announced on the 19th that its board of directors unanimously approved the establishment of the Digital Health Committee (special committee) and has begun the process of recruiting committee members from all member companies.

The Digital Health Committee will undertake tasks such as ▲ research and development (R&D) and support related to digital health including digital therapeutics ▲ collection of the latest information on digital health and enhancement of understanding ▲ building networks among digital health-related companies ▲ supporting policy development by government ministries related to digital health and cooperating with related organizations.

The Digital Health Committee will be composed of up to 20 representatives or senior executives from member companies, and plans to have an advisory group of experts from academia. Venture companies that are associate members of the association, such as Welt, which is developing a digital therapeutic for insomnia, and Bagel Labs, which is developing a digital therapeutic for diabetes, as well as traditional pharmaceutical member companies like Dongwha Pharm and Handok, are expected to participate in the Digital Health Committee.

Won Hee-mok, chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, said, “The global pharmaceutical and bio industry trends are rapidly changing through convergence with advanced technologies of the 4th Industrial Revolution. Through the establishment of the Digital Health Committee, we will unite the capabilities of industry experts and lead the paradigm shift in the pharmaceutical industry.”

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