SEOUL, December 28 (AJP) - South Korean pharmaceutical and biotech companies saw technology exports surge 162 percent to a record $14.5 billion this year, driven by robust demand for platform technologies and new drug candidates.
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association said Sunday that total non-confidential contract values jumped from $5.5 billion last year, demonstrating the sector's growing global competitiveness.
Bio-platform deals led the charge. ABL Bio secured the year's largest contract in April, a $3.0 billion agreement with GSK for its "Grabody-B" blood-brain barrier shuttle technology, followed by a $2.6 billion licensing deal for the same platform with Eli Lilly last month.
Other major agreements included Alteogen's March deal with AstraZeneca's MedImmune to export its human hyaluronidase technology for $1.4 billion, and Rznomics' $1.4 billion licensing pact with Eli Lilly for RNA editing therapies in May.
Exports of new drug candidates were also strong. Abion signed a $1.3 billion joint development deal for its antibody therapeutic in June. Recently, ADEL licensed its Alzheimer's candidate to Sanofi for $1.0 billion, while Aimed Bio signed a contract with Boehringer Ingelheim worth nearly $1.0 billion.
Industry observers attribute the streak of large-scale deals to strategic pipelines that match global demand. Experts emphasize that companies must now aggressively reinvest these profits into R&D to ensure sustainable growth, a strategy ABL Bio has already committed to following its recent windfalls.
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