Daewoong accelerates investment in CDMO business

S.Korea's Daewoong Bio will invest $118 million into CDMO plant to produce higher value-added drugs

Daewoong Bio Laboratory
Daewoong Bio Laboratory
Ji-hyun Lee 1
2023-01-18 10:51:34 bluesky@hankyung.com
Bio & Pharma

Daewoong, the holding company of South Korea's pharmaceutical-oriented Daewoong Group, is speeding up its pace to beef up its contract development and manufacturing (CDMO) business.

In its stock exchange filing on Monday, Daewoong revealed that its subsidiary Daewoong Bio Co. will invest 146 billion won ($118 million) in building a factory for the production of biologics.

Daewoong Bio had previously spent 2.9 billion won to secure an 8,900-square-meter site to build the plant.

The subsidiary plans to promote its global CDMO business by utilizing a microbial-based factory that will be built here by the end of next year.

Daewoong Bio has thus far focused on general-purpose active pharmaceutical ingredient manufacturing and the latest investment will help it to elevate its business portfolios into a higher value-added biopharmaceutical mix.

Currently, Daewoong Bio is making the Gliatamin tablet, the No. 1 treatment in the market of choline alfoscerate for cognitive diseases.

Write to Ji-hyun Lee at bluesky@hankyung.com
##daewoong Bio ##Daewoong Bio CDMO #korea daewoong cdmo bio #daewoong gliatamin cdmo

Daewoong, Onchorus to undertake research on mRNA anticancer drugs

Daewoong, Onchorus to undertake research on mRNA anticancer drugs

Daewoong Pharmaceutical said on Thursday that it has signed a joint R&D and commercialization agreement with America's biopharmaceutical venture Onchorus for messenger ribonucleic acid (mRNA) drugs.According to Daewoong, the Andover (Massachusetts)-based company possesses self-amplifying R

Daewoong Pharma, Neurolive to jointly develop new antidepressant drug

Daewoong Pharma, Neurolive to jointly develop new antidepressant drug

South Korea's drug company Daewoong Pharmaceutical said on Wednesday that it has signed an agreement with biopharmaceutical venture Neurorive to jointly research and develop new drug candidates for the treatment of depression.Neurorive is a company that focuses on central nervous system diseas

Daewoong submits new drug applications for Fexuclue in 10 countries

Daewoong submits new drug applications for Fexuclue in 10 countries

Daewoong's new GERD drug Fexuclue South Korea's leading drug company Daewoong Pharmaceutical is accelerating its global expansion efforts for its 34th domestically developed drug Fexuclue (active ingredient: Fexuprazan).The company said on Wednesday that it has submitted new drug applications (

Daewoong Pharmaceutical aims to top $4 bn in sales by 2027

Daewoong Pharmaceutical aims to top $4 bn in sales by 2027

Daewoong Pharmaceutical CEO Jeon Seng-ho South Korea-based Daewoong Pharmaceutical Co. is hoping to achieve 5 trillion won ($4.4 billion) in sales by 2027, meaning that the company aims to grow fivefold in seven years given that it logged revenue of 1 trillion won in 2020. “The seeds
(* comment hide *}