Boryung, which has strengthened its portfolio with original products, has joined forces with Korea National Enterprise for Clinical Trials (KONECT) to introduce new medicines which are not yet available in Korea.
Boryung said on Nov. 28 the pharmaceutical company struck an MOU on KONECT, under the umbrella of the Ministry of Health and Welfare, to introduce new drugs.
The deal is designed to improve access to new global drugs for patients suffering from rare diseases, but will also contribute to improving public health.
Under the agreement, both sides will share information on 244 kinds of new international drugs, now unavailable in Korea, and implement diverse collaboration projects, such as joint research necessary for introducing global new drugs and academic events.
The agreement between Boryung and KONECT takes on significance as Boryung has not only expanded its portfolio through legacy brands acquisition strategies, but also has aggressively demonstrated its move to introduce new drugs from foreign countries.
Boryung has ramped up its product portfolio. In 2020, Boryung acquired the selling rights of the anticancer drug GemZar, developed by U.S. pharmaceutical company Eli Lilly.
In 2021, Boryung took over Lilly’s schizophrenia treatment drug Zyprexa. The Korean pharmaceutical company also struck a licensed-in agreement to acquire the rights of the non-small cell lung cancer (NSCLC) drug Alimta this year.
Boryung received the nod to introduce the small cell lung cancer (SCLC) drug Zepzelca from PharmaMar, a Spanished-based pharmaceutical company in September, this year.
Boryung’s agreement with KONECT is expected to expedite the introduction of global new drugs, unavailable in Korea, and further expand the pharmaceutical portfolio.
For Boryung, setting the hypertensive drug Kanarb, developed the pharmaceutical company, and products, introduced through LBA strategies, as growth engines, is predicted to serve as a boon for securing additional growth engines.
Boryung is expected to see sales growth gain ground in consideration of the domestic market, prevailed by original products.
Boryung Acquire Lilly’s NSCLC drug Alimta
Boryung said on Oct. 25 the pharmaceutical company acquired all local rights, including sale and licensing, on the non-small cell lung cancer (NSCLC) Alimta (ingredient, pemetrexed) from Lilly.
Alimta is Lilly’s proprietary treatment drug that has brought about a paradigm shift in treating the cancer.
Alimta received approval from the U.S. Food and Drug Administration as the first treatment for malignant pleural mesothelioma in 2004.
Lilly introduced the drug in Korea in 2006 as the first drug that enabled customized treatment according to histological type.
The treatment improved the patient's quality of life and survival rate by significantly reducing the cytotoxic anticancer drug's adverse effect and toxicity, the company said.
Boryung Announces Winners of 1st CIS Challenge
Boryung said on Oct. 27 the pharmaceutical company selected six winners of the 1st Care In Space (CIS) Challenge.
CIS Challenge is a program designed to explore and cultivate startups with diverse goals, such as medical equipment, diagnosis and medicine production to explore the untapped space health care sector.
The 1st Care In Space (CIS) Challenge was hosted by Boryung in cooperation with Axiom Space, the world’s first civilian space station development company, and the aerospace startup exploration institution Starburst.
In early this year, Boryung inaugurated the CIS project to solve diverse health issues occurring in human body during a long-staying time in aerospace space with minute gravity.