Korea rising

The Korean biopharma industry is mainly known for biosimilars and me-too products. But a cohort of innovator biotechs in Korea is coming of age, bolstered by an infusion of cash from the government and by the clinical and business success of bellwether Hanmi Pharmaceutical Co. Ltd.

As government investment and partnering money have begun to flow into the sector, a virtuous circle has been set in motion in which Korean biotechs are deploying a larger proportion of their revenues to R&D. That in turn is expected to lead to innovative products that could attract more multinationals to the partnering table...