<With Teacher Issue PICK> What is the survival strategy for K-Bio, the next generation of food?
2024-10-21 20:41:02
Currently produced medicines can be broadly divided into synthetic medicines and biopharmaceuticals. They are similar in that they treat human diseases, but differ in their basic raw materials and production processes.
Therefore, many pharmaceutical companies are actively investing in research and development with biopharmaceuticals as their main field.
However, with the outbreak of COVID-19, the company began developing a vaccine with budget support from the U.S. government, and eventually succeeded in developing an mRNA vaccine, generating enormous sales and ranking as a global pharmaceutical company.
Vice Chairman Lee said, "Although Korea's new drug development and industrialization is currently in the early stages, considering the development process of biopharmaceuticals that requires relatively high costs and time in the Korean pharmaceutical market, which was centered on existing synthetic drugs, we have achieved remarkable progress in a short period of time."
“It is,” he said.
Exclusive production is possible if development is successful during the consignment development and production process, and Vice Chairman Lee explains, “Our country has unrivaled competitiveness in CMO and CDMO, ranking first in the world in annual production capacity.”
Vice Chairman Lee said that the background to the enactment of this bill is "the purpose of the United States, the world's largest pharmaceutical market, to keep China's rapidly growing bio industry in check."
Vice Chairman Lee suggested the need to create a productive bio ecosystem that connects industries, schools, laboratories, and hospitals for the growth of Korea's bio industry.
Kendall Square, located in Boston, Massachusetts, USA, is a global bio hub where universities such as Harvard and MIT and numerous companies gather, making it an ideal 'bio' hub that forms a virtuous cycle between universities and large pharmaceutical companies thanks to an industrial environment that fosters excellent talent and promotes technological development.
It has established itself as a ‘cluster’.
Vice Chairman Lee concluded the lecture by saying, “As the bio industry requires a long time to grow, I hope that we will tolerate failure generously and value the experience of failure as the seed of success.”
