[Hinews] SEOUL, South Korea — Daewoong Pharmaceutical, a leading South Korean drugmaker, is positioning its biosimilar division as a key growth engine, establishing partnerships with domestic and international companies to cover the full spectrum of development and commercialization. The company has appointed Dr. Seung-suh Hong to lead its newly launched Biosimilar Business Division, signaling a bold push into global markets.

Dr. Hong, a biosimilar specialist with two decades of experience at Celltrion, where he led major R&D and commercialization initiatives, will spearhead Daewoong's global expansion in biosimilar. Industry analysts expect the market to grow from $30 billion in 2024 to $208 billion by 2033, driven by simplified development processes and higher approval rates compared to original biologic drugs.

Daewoong Pharmaceutical's Yongin Research Center (Photo courtesy of Daewoong Pharmaceutical)
Daewoong Pharmaceutical's Yongin Research Center (Photo courtesy of Daewoong Pharmaceutical)


Recent updates to European Medicines Agency (EMA) guidelines have reduced development risks and enhanced cost efficiency, making biosimilars more appealing to manufacturers. Daewoong aims to leverage its established distribution and marketing infrastructure—alongside partnerships with biotech firms and contract development and manufacturing organizations (CDMOs), to fast-track market entry and boost revenue growth.

Dr. Hong emphasized the company’s readiness to compete globally: "Our global distribution platform and operational capabilities will allow us to provide cost-effective therapeutic options to patients across markets,"
Daewoong CEO Sung-soo Park highlighted the company's goal of establishing a substantial presence in international markets through internal development programs and strategic alliances. "We are systematically implementing our medium- to long-term strategy to position Daewoong as a major competitor in the biosimilar sector," Park said.

Daewoong’s biosimilar initiatives are centered at its Yongin Research Center, a core hub for pharmaceutical innovation and development.

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