CEO Yoon Woong-seop "Active R&D Despite Pandemic... Expecting Swift Approval of Jokoba"

"Ildong Pharmaceutical-Shionogi COVID-19 Treatment
Expecting Rapid Approval in Korea and Japan"

On the 25th, Yoon Woong-seop, CEO of Ildong Pharmaceutical, is giving a presentation at the '2022 World Bio Summit.'

[Asia Economy Reporter Kim Young-won] Yoon Woong-seop, CEO of Ildong Pharmaceutical, stated that the company is actively supporting R&D (research and development) even amid the COVID-19 pandemic. He expressed expectations for the rapid approval of the COVID-19 antiviral drug 'Jokova.'

On the 25th, he made these remarks as a representative of companies developing COVID-19 vaccines and treatments at the 1st '2022 World Bio Summit,' jointly hosted by the Ministry of Health and Welfare and the World Health Organization (WHO).

CEO Yoon said, "Last year, we generated sales of $519 million, and this year we are also showing double-digit growth. Despite the significant impact of COVID-19 on the global economy, Ildong Pharmaceutical decided to invest 19% of its sales in research and development. We aim to become an R&D-centered pharmaceutical company."

He explained that to achieve this, they have established an 'R&D ecosystem.' Ildong Pharmaceutical founded Idience in 2019 to focus on anticancer drug development and Aims Biosciences to specialize in clinical pharmacology capabilities. Irid BMS, which focuses on early drug development, is also part of this ecosystem.

CEO Yoon stated, "As a result of active R&D support, we have secured 25 solid pipeline assets." He added, "These include treatments for cancer, diabetes, liver diseases, and various infectious diseases."

A representative example is Jokova, a COVID-19 antiviral drug jointly developed with Japan's Shionogi. CEO Yoon said, "Phase 2 and 3 trials of Jokova have been conducted successfully in Japan, Korea, and Vietnam, and the Phase 3 results were announced successfully last month. We expect emergency use authorization (EUA) to be granted in Japan and Korea."

Ildong Pharmaceutical announced that the Phase 3 clinical trial results involving 1,821 patients with mild to moderate COVID-19 infection, released last month, confirmed efficacy. The primary endpoint, clinical symptom improvement, showed 167.9 hours in the treatment group versus 192.2 hours in the placebo group.

CEO Yoon emphasized the importance of being able to produce COVID-19 treatments domestically. He said, "Shionogi enabled production of Jokova in Korea, which I believe is important. Moving forward, we must establish thorough preparedness for other possible virus outbreaks in Korea, anticipating the worst-case scenarios."

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