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- 2026-05-07 16:20:04
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- Medytox paid service fees of KRW 97.7B in 4 years
- by Kim, Jin-Gu Apr 04, 2023 05:52am
- The service fees paid out by Medytox during the past 4 years have reached nearly KRW 100 billion. Since 2019, disputes related to botulinum toxin had risen simultaneously in the United States and Korea, which led to an increase in the litigation costs and fees the company has spent. The amount of annual service fee payouts decreased after the legal dispute in the US ended with a settlement, but with the risk of litigation in Korea and abroad still unresolved, the company has been spending more than KRW 15 billion a year in litigation fees. ◆Company paid KRW 97.7 billion for 4 years since 2019 as service fees due to a surge in litigation costs According to the Financial Supervisory Service on the 4th, Medytox paid out KRW 16.1 billion as service fees last year. Its fees, which were around KRW 6.6 billion in 2018, had risen over fivefold to KRW 35.1 billion by 2019. Then, a total of 97.7 billion won was paid out during the 4 years that followed, including KRW 29.7 billion in 2020, KRW 16.8 billion in 2021, then KRW 16.1 billion last year. A sizeable amount of the fees Medytox paid out were legal costs. In general, litigation costs of a company are included as service fees under Selling, General, and Administrative expenses in financial statements. In addition to litigation costs, the service fee includes royalties, accounting advisory fees, royalties for using patent rights, and credit card payment fees. Medytox The sharp increase in service fees paid out by Medytox coincides with the time when the company's botulinum toxin dispute in the United States began in earnest. In January 2019, Medytox filed a lawsuit against Daewoong Pharmaceutical and Daewoong Pharmaceutical's US partner Evolus, to the US International Trade Commission (ITC) for infringement of trade secrets. The intensified dispute over botulinum toxin raised the company’s litigation expense, and as a result, the service fees paid for the 4 years alone reached near KRW 100 billion. This is 13% of Medytox's sales of KRW 726.7 billion that it had earned during the same period. Also, it is more than the combined operating profit of 4 years (KRW 69.8 billion). ◆ Fees decreased due to the settlement of the U..S dispute... 'Litigation risk' still remains Medytox's service fees have been decreasing since the company settled the ITC dispute in the US in early 2021. However, compared to 2018, which was before the various legal dispute began in earnest, the service fee payments the company is paying out are still more than double compared to before. The industry expects the service fees of over KRW 10 billion may be inevitable for a while as the litigation risk against Medytox has not yet been completely dissolved. Medytox is currently embroiled in more than 4 legal disputes. The first is the domestic civil lawsuit against Daewoong Pharmaceutical that remains unclosed. Medytox won the first trial in the civil lawsuit earlier this year, but Daewoong Pharmaceutical appealed. Given that the two sides are in a tense confrontation, the case is highly likely to continue on and be tried by the Supreme Court. Also, the company filed an administrative lawsuit claiming that the disposition that canceled the license was unfair Against the Ministry of Food and Drug Safety. In 2020, the MFDS has decided to cancel the license of Medytox products one after another, and Medytox filed a lawsuit to cancel the disposition. In addition, the Seoul Western District Prosecutors' Office indicted 6 botulinum toxin companies including Medytox for being in violation of the Pharmaceutical Affairs Act. They were accused of selling to domestic exporters without obtaining approval for national lot release from the MFDS. A legal dispute is also ongoing with its Chinese partner. Medytox officially announced that Gentix Ltd., a subsidiary of the Chinese company Bloomage Biotechnology, had filed a claim for damages against Medytox with the Singapore International Arbitration Centre (SIAC) earlier this year. The amount claimed for damages was HKD 750 million (approximately KRW 118.8 billion). The company had established Medybloom China with Bloomage Biotechnology in 2015 to prepare entry into the Chinese market. Medytox had planned to sell its botulinum toxin product to the Chinese market through the newly established company. However, the plan was put to a halt in July last year with Bloomage announcing intentions to terminate its cooperative relationship with Medytox. At the time, Bloomage is said to have pointed to how Medytox did not supply products for sale as the reason for termination.
- Company
- Pharma companies face the crisis ‘head-on'
- by Chon, Seung-Hyun Apr 03, 2023 05:49am
- The major listed pharmaceutical and bio companies were found to have significantly increased their R&D personnel over the past 3 years, during the COVID-19 pandemic. 9 out of 10 companies increased their research personnel, and the number increased by 25% during the past 3 years. According to the Financial Supervisory Service on the 31st, the total number of research personnel in major listed companies in Korea increased by 11.7% from the previous year to reach 6,417. Among the listed biopharmaceutical companies, the 30 with the highest sales that own research personnel were reviewed for research. Compared to before the COVID-19 outbreak, pharmaceutical companies in Korea have greatly increased the number of their R&D personnel. The number of researchers at 30 pharmaceutical companies increased by 4.2% from 5,122 in 2019 to 5,339 in 2020. In 2021, the number increased by 7.6% to reach 5,747, and the rate of increase was even greater last year. Over the past 3 years, the number of research personnel at the companies increased by 25.3%. R&D personnel at major listed pharma and bio companies (Unit: persons, Data: FSS) The numbers signify the companies' active investment in R&D personnel for new substances amid the unstable environment from COVID-19. The R&D investment amount of 30 major pharmaceutical and bio companies increased by 42.2% from KRW 1.917 trillion to KRW 2.726 trillion in 3 years. The number of R&D personnel increased in 26 of the 30 companies during the past 3 years. In other words, 9 of 10 companies had increased investments in R&D personnel. By individual company, Samsung Biologics’ R&D personnel increased by 354 over the past 3 years from 254 in 2019 to 608 last year. The number of R&D personnel at Samsung Biologics increased by 77 and 69 in 2020 and 2021, respectively, and then by 608 last year. R&D investments have also increased due to an increase in contract manufacturing organization (CMO) and contract development organization (CDO) orders for the comapny's biopharmaceutical drugs. Samsung Biologics recorded sales of KRW 3.00 trillion last year, and become the first company to exceed sales of KRW 2 trillion and 3 trillion at once among domestic pharmaceutical and bio companies. R&D investments by Samsung Biologics have increased more than fivefold in 3 years from KRW 48.5 billion in 2019 and reached KRW 268.2 billion last year. The number of R&D personnel at Daewoong Pharmaceutical was 379 last year, which is a 239 increase from 3 years ago. The number of R&D personnel at Daewoong Pharmaceutical increased from 140 in 2019 to 231 in 2020 when its personnel from its development unit were added to the count. The number then increased by 51 and 97 in 2021 and last year, respectively. The analysis is that the company has further strengthened R&D investments after making visible R&D achievements with Fexclu and Envlo. Daewoong Pharmaceutical's R&D investment increased by 43.2% from KRW 140.6 billion in 2019 to KRW 201.4 billion in 3 years. SK Bioscience's R&D personnel increased by 165 from 124 in 2019 to become 289 last year. SK Bioscience is one of the companies that received the most attention for developing a vaccine during the COVID-19 crisis. In June of last year, SK Bioscience became the first Korean company to successfully commercialize a homegrown COVID-19 vaccine, SkyCorione Multi Inj. SK Bioscience's R&D expenses soared 273.0% from KRW 30.3 billion in 2019 to KRW 113 billion last year. Based on last year, Yuhan Corp’s R&D personnel was 345, up 80 from the 265 it had had 3 years ago. Celltrion, Dong-A ST, and GC Pharma have increased the number of their R&D personnel by more than 70 over the past 3 years. In addition, Dongkook Pharmaceutical, Daewon Pharmaceutical, Huons, Kyongbo Pharmaceutical, and Shinpoong Pharmaceutical increased their R&D personnel by more than 20 over the past 3 years. As of last year, Celltrion had the largest size of R&D personnel with 721 researchers. Celltrion has 55 doctoral-level and 345 master's-level personnel conducting research in its Biotechnology Research Division, New Drug Research Division, Approval Division, Clinical Development Division, Medical Division, Chemical Product Development Division, etc. Samsung Biologics had hired 608 R&D personnel. The company is conducting research activities at MSAT BU, CDO Development Center, its Bio Research Center, etc. Among traditional pharmaceutical companies, Hanmi Pharmaceutical had the largest number of researchers with 584 researchers. Chong Kun Dang and GC Pharma hired more than 500 R&D personnel.
- Company
- Hugel appoints Seok-yong Cha, former CEO
- by Lee, Seok-Jun Apr 03, 2023 05:49am
- Hugel announced on the 31st that the 22nd regular general meeting of shareholders and board of directors was held and that former vice chairman of LG H&H, another non-executive director Seok-yong Cha was appointed as Hugel's new chairman and chairman of the board of directors. Chairman Cha Seok-yong served as the CEO of LG Household & Health Care for 18 years from 2005 to 2022. He set records for 17 consecutive years of sales and operating profit growth. In particular, through a total of 28 significant mergers and acquisitions (M&A), it strengthened the portfolio of each business division and expanded the market to North America, China, and Japan, and grew LG Household & Health Care into a global company as well as the number one in the domestic beauty industry. Chairman Cha also served as president of P&G Korea and CEO of Haitai Confectionery. With the recruitment of Chairman Cha Seok-yong, Hugel is expected to gain strength in leaping into the global top tier. Based on Chairman Cha's know-how in the aesthetic field and experience in pioneering overseas markets, the company plans to advance further its global strategy for botulinum toxin, fillers, and cosmetics, and accelerate growth by strengthening new business development activities. Brent L. Saunders, who previously served as Chairman of Hugel's Board of Directors, will serve as Chairman of the newly created Advisory Board. An official from Hugel expected, "The new chairman Cha Seok-yong will lead Hugel's global growth with the support of shareholders along with the existing board of directors based on business insights that cross various industries as well as aesthetics."
- Company
- AstraZeneca appoints Suyeon Kim as head of AZ Singapore
- by Eo, Yun-Ho Apr 03, 2023 05:49am
- AstraZeneca has appointed Suyeon Kim (49) from AstraZeneca Korea as General Manager of AstraZeneca Singapore. Suyeon Kim, who has been serving as the Head of the International Oncology Franchise at AstraZeneca, officially took office as General Manager on the 27th of last month. After entering Pfizer Korea as a marketing representative 20 years ago, Kim built her marketing career serving various posts at various multinational pharmaceutical companies, including at Novartis Korea's Oncology Business Unit. After joining AstraZeneca in 2016, Kim served as the Business Unit Director of Oncology and drove the growth of the company’s targeted anticancer therapy ‘Tagrisso,’ and has been serving as the International Oncology Brand Director of Lung Cancer since 2020. With the appointment, AstraZeneca placed Koreans as heads in three of its Asian subsidiaries. In addition to Suyeon Kim, the Korean subsidiary of AstraZeneca Korea is being led by Sang-Pyo Kim (53) since 2018, and the Indonesian subsidiary is being led by Sewhan Chon (49) since 2020.
- Company
- 4 out of 5 biopharmaceuticals increased exports
- by Kim, Jin-Gu Apr 03, 2023 05:49am
- Annual exports of individual pharmaceutical bio companies exceeded 2 trillion won. Last year, Samsung BioLogics recorded exports of 2.8 trillion won, up 2.3 times from the previous year, and Celltrion is also on the verge of achieving 2 trillion won. Of the 30 major listed biopharmaceutical companies, 24 showed an increase in export performance compared to the previous year. In addition to Samsung Biologics and Celltrion, ST Pharm, Ildong Pharm, Handok, HK Inno.N, and Daewoong are on the rise. According to the Financial Supervisory Service on the 3rd, the export performance of 30 major listed pharmaceutical companies in Korea last year was 7.3188 trillion won. Compared to 5.1946 trillion won in 2020, it increased by 37.4%. Exports of domestic biopharmaceutical companies increased significantly in the course of the prolonged COVID-19 crisis. In 2020, the first year of Corona, the exports of 30 companies were 3,989.8 billion won 2020, exceeding 5 trillion won the following year and 7 trillion won last year, respectively. The increase in the export performance of Samsung Biologics is remarkable. Samsung BioLogics' annual exports increased from 494.5 billion won in 2019 to 868.2 billion won in 2020 and 1.22 trillion won in 2021. Last year, the scale of exports reached 2.2 trillion 846.6 billion won, and the rate of increase was even steeper. It is an analysis that the company's exports have also increased significantly as the corona vaccine, which was consigned in earnest in 2021, was exported last year. In addition to the corona vaccine, export performance has increased significantly as the volume of biopharmaceutical CDMO has steadily increased. It is analyzed that the incorporation of Samsung Bioepis into a 100% subsidiary also contributed significantly to the expansion of export performance. The increase in Samsung Biologics' exports directly contributed to the company's record-high sales. Samsung BioLogics recorded sales of 3.13 trillion won last year, 94.8% of which came from exports. Sales of Samsung Biologics were 2.8 trillion won and sales of Celltrion were 2 trillion won, last year’s record-breaking export performance. By region, exports to Europe increased by 137% from 753.8 billion won to 1.7859 trillion won, and exports to North America increased by 90% from 448.6 billion won to 854 billion won. Exports to other regions other than North America and Europe also stood at 19.3 billion won in 2020, but increased more than 10 times to 206.7 billion won last year. Celltrion Healthcare also set a record high with exports of just under 2 trillion won. Celltrion exports biosimilars around the world through its affiliate Celltrion Healthcare. The company's exports last year were 1,964.7 billion won, up 9.0% from 1,802.9 billion won in 2021. ◆ Last year, 4 out of 5 listed pharmaceutical companies increased their export performance Of the 30 companies surveyed, 24 companies, excluding 6, increased their exports 4 out of 5 pharmaceutical companies saw their export performance improve. In particular, Samsung Biologics, Ildong Pharmaceutical, Handok, HK Inno.N, and Daewoong Pharmaceutical showed an increase of more than 50% compared to the previous year. One company that might be of interest is ST Pharm. ST Pharm's exports last year were 218.4 billion won, up 68.3% from 129.8 billion won in 2021. Among the 30 companies surveyed, exports are the sixth highest. Only Samsung Biologics, Celltrion, GC Pharma, SK Biopharm, and SK Bioscience recorded higher exports than ST Pharm. ST Pharm's export performance has been steadily increasing since 2019. The company's exports, which stood at 46 billion won in 2019, increased by 1.6 to 1.7 times each year over the past four years, to 79.6 billion won in 2020, 129.8 billion won in 2021, and 218.4 billion won last year. It is an analysis that the oligonucleotide drug substance business, which the company has taken as a new growth engine, is cruising. The share of new drug APIs in the company's exports is increasing year by year. In 2019, exports of new drug APIs were 24.7 billion won, accounting for only 53.7% of total exports. Last year, exports of new drug APIs reached 172.2 billion won, a nearly seven-fold increase in three years. The share of total exports also increased by 25.1%p over the past three years to 78.8%.
- Company
- Bladder cancer drugs/new mechanisms appear one after another
- by Eo, Yun-Ho Mar 31, 2023 06:09am
- New treatment options for urothelial cancer are emerging one after another. Domestic commercialization of new drugs such as targeted anticancer drugs and antibody-drug conjugates (ADCs) is underway. Janssen's Balversa, which was approved at the end of last year, is suitable for patients with metastatic urinary tract disease with FGFR2 or 3 mutations who have progressed despite treatment with at least one chemotherapy agent or who have progressed within 12 months of adjuvant therapy before and after surgery including platinum-based chemotherapy. It can be prescribed for patients with epithelial cancer (bladder cancer). Bladder cancer is representative cancer for which there is no targeted anticancer drug. Balversa has become the first targeted anti-cancer drug for bladder cancer with a new mechanism of FGFR (fibroblast growth factor receptor) inhibition. FGFR is one of the biosignals involved in cancer cell growth and is associated with several carcinomas. In particular, FGFR mutations are commonly observed in bladder cancer, and about 20 to 30% of patients are known to have mutations. Phase 2 BLC2001, which served as the basis for Balversa's approval, targeted 99 patients with locally advanced metastatic urothelial cancer with FGFR mutations. The objective response rate of 87 evaluable patients was 32.2% based on the IRRC evaluation standard. The disease control rate was 78%, and the median duration of response was 5.4 months. mPFS and mOS were 5.5 months and 13.8 months, respectively. Astellas Pharmaceuticals' ADC drug 'Padcep (Enfotumabvedotin)' obtained domestic approval on the 10th. This drug can be prescribed for adult patients with locally advanced or metastatic urothelial cancer who have ▲PD-1 or PD-L1 inhibitors, ▲and platinum-based chemotherapy. Padcev, which targets the Nectin-4 protein, which is frequently observed on the surface of urothelial cancer cells, binds to Nectin-4 expressed on the cell surface and moves into the cell, inhibiting cell division within the cell. MMAE is released to induce apoptosis of cancer cells. Padcev's approval was a global phase 3 clinical study comparing Padcev with conventional chemotherapy in 608 patients with locally advanced or metastatic urothelial cancer who had prior experience with platinum-based chemotherapy and PD-1/L1 inhibitor treatment. This was done based on the results of EV-301. As a result of the study, the Padcev-administered group reduced the risk of death by about 30% compared to conventional chemotherapy, and the mOS of the Padcev-administered group was 12.9 months, demonstrating a significant improvement in survival time compared to 9.0 months of chemotherapy. Padcev's mPFS was 5.6 months versus 3.7 months for the control group, reducing the risk of disease progression by 38%.
- Company
- Generic for Godex development has come to an all-stop
- by Nho, Byung Chul Mar 31, 2023 06:09am
- As pharmaceutical companies preparing to release generics for Godex announced that they would give up development, Celltrion Pharm is expected to dominate. According to the industry, about three pharmaceutical companies have been identified that are preparing generics for Godex, but drug development has been suspended due to development difficulties/declining product margins. Reasons for stopping the release of generics can be roughly divided into difficulties in 'registering DMF' and 'securing bioequivalence', as well as rising costs following continued drug price cuts. In the meantime, the price of Godex is currently listed at 312 won after going through ten price cuts from 422 won at the time of permission in 2009. When a generic is released, the drug price will drop to W166, which could significantly lower margins to 144 won, the price of Nissel for a single Pharmaking BDD. Godex contains Biphenyl Dimethyl Dicarboxylate/BDD 25mg as the main ingredient, Carnitine Orotate 150mg, Adenine Hydrochloride 2.5mg, Antitoxic Liver Ext. 12.5mg, Cyanocobalamin 125μg, Pyridoxine Hydrochloride 25mg, and Riboflavin. In addition, it is observed that the biggest obstacle is the certification and confirmation of the drug substance registration (DMF) of Antitoxic Liver Ext., one of Godex. Except for some injections, DMF registration has been made mandatory for drug substances used in all medicines since 2017. In the case of Antitoxic Liver Ext., which is extracted from cow liver, DMF is not registered, so generic companies have to bear the burden of proving it by investing a huge amount of money. According to what is known, Celltrion Pharmaceuticals, the original developer, also has different laws and regulations at the time of product development and approval. If the lineup is expanded to tablets (pills) following existing capsules, DMF registration is required, making it difficult to launch new products with the same ingredients. the situation that might be possible. Meanwhile, BDD, the main component of Godex, is known to have been first developed by China's LIU in 1982. There is Pharmaking Nissel for BDD single drug and Pharmaking Pennel for a combination. The first company to launch a BDD single ingredient in Korea was Taerim Pharmaceutical, which changed its name to Pharmaking in 2005. Godex, which obtained permission in January 2000, is a blockbuster drug with 70 billion prescriptions as a 7-drug complex with 25mg of BDD as the main ingredient, the same as Nissel Pennel. BDD, the main component of Godex·Nissel·Pennel, rapidly lowers GPT, the level of liver inflammation, through antioxidant action, normalizes ALT level, and reduces the rebound phenomenon in which ALT rises again when medication is discontinued.
- Company
- Jemperli starts reimbursement process in Korea
- by Eo, Yun-Ho Mar 31, 2023 06:08am
- Jemperli, a new cancer immunotherapy is attempting reimbursement listing in Korea. According to industry sources, GSK Korea has recently submitted an application to list its PD-1 inhibitor Jemperli (dostarlimab) for reimbursement in Korea. With the application, whether another treatment option may be released into the market remains to be seen. Unlike other immunotherapies, Jemperli was first approved as a treatment for mismatch repair deficient (dMMR) recurrent or advanced endometrial cancer that has progressed on or following prior treatment with a platinum-containing chemotherapy regimen. Therefore, the company plans to first provide treatment opportunities to patients in need. For the benefit of these patients, GSK has been carrying out an Expanded Access Program (EAP) in 15 major medical institutions in Korea since earlier this year before filing for reimbursement. Endometrial cancer develops in the endometrium, the inner lining of the uterus, and accounts for the majority of cervical cancer. Roughly, 1 out of 4 endometrial cancer patients are diagnosed to be in the advanced stage or experience recurrence, and patients whose disease recurs after platinum-based chemotherapy have limited treatment options. Jemperli’s approval was based on the cohort A1 analysis results of Phase I multicohort GARNET trial that included a cohort of patients with relapsed or advanced dMMR/MSI-H endometrial cancer who progressed on or following prior treatment with a platinum-containing regimen. In particular, this study had the largest cohort among PD-1 inhibitor monotherapy studies for dMMR/MSI-H endometrial cancer patients among those that have been conducted so far. The major efficacy outcome measures of the study were Objective Response Rate (ORR) and Duration Of Response (DOR) as determined by a Blinded Independent Central Review (BICR) according to (Response Evaluation Criteria Solid Tumors) RECIST v 1.1. As a result of analyzing a total of 108 patients with a median follow-up of 16.3 months, Jemperli demonstrated durable antitumor activity with a manageable safety profile. In the cohort, the ORR was 43.5% (95% CI, 34.0-53.4) and the median DOR was not yet reached. Disease Control Rate (DCR) was 55.6%, and the proportions of responses lasting 6 and 12 months were 97.9% and 90.9%, respectively. Jae-Weon Kim, Professor of Obstetrics and Gynecology at Seoul National University Hospital (President of the Korean Society of Gynecologic Oncology), said, “Most endometrial cancers are diagnosed early and have a relatively good prognosis, but 7-15% of these early-stage patients experience recurrences, and a limitation existed in that area due to lack of treatments available for use in case of recurrence after platinum-based chemotherapy.” Professor Kim added, “Tumors with confirmed dMMR/MSI-H respond well to treatment using PD-1 inhibitors, and Jemperli, with its significant treatment effect, safety profile, and treatment convenience, has offered a new possibility as second-line treatment for patients with recurrent or advanced dMMR/MSI-H endometrial cancer.”
- Company
- Viatrice Korea appoints Bill Schuster as new CEO
- by Jung, Sae-Im Mar 30, 2023 05:42am
- Viatris Korea announced on the 28th that it would appoint Bill Schuster as its new CEO. New CEO Bill Schuster is an expert with more than 30 years of diverse business experience in the healthcare and pharmaceutical industries. Based on his career as a senior leader in Asia, the Americas, and Europe, he is highly regarded for his understanding of the diverse healthcare systems and cultural backgrounds of each region. Since the launch of Viatrice in 2020, Bill Schuster, the new CEO, has led the growth of the diverse product portfolio as Head of the Beatrice Brand Division in Japan. He also contributed to Beatrice Japan's strong growth by playing a pivotal role in Japanese digital channel innovation as well. Bill Schuster, the new CEO, was born in Ireland and received a Bachelor of Science and Ph.D. from Dublin University and an MBA from INSEAD Business School in France. He held key positions in marketing and business strategy at Shionogi Pharmaceutical, Takeda Pharmaceutical International, and Mylan Japan. He has worked as a marketing manager in charge of Japan and Korea at Boehringer Ingelheim and Novo Nordisk Pharmaceuticals in Japan. New CEO Bill Schuster said, "I am very pleased to serve as CEO of Viatrice Korea, one of the leading companies in the pharmaceutical industry in Korea." We will further solidify our position in the Korean market and continue to contribute to Korean society by realizing the company's mission of supporting.
- Company
- JW Pharma registers the first overseas patent for JW0061
- by Mar 29, 2023 06:02am
- A researcher at JW Pharmaceutical is conducting a candidate substance test. (Photo by JW Pharma)JW Pharmaceutical announced on the 27th that it has obtained a patent for 'JW0061', a treatment for hair loss targeting Wnt, from the Russian Intellectual Property Office. This patent is for JW0061, a new drug candidate for hair loss treatment based on the Wnt signaling pathway. The patent protects the composition of JW0061. This is the first time that the JW0061 material patent has been registered. JW Pharmaceutical has applied for patents in more than 10 countries including the US, Europe, Japan, and China as well as in Korea. JW0061 is a first-in-class candidate substance that promotes hair follicle proliferation and hair regeneration by activating the Wnt signaling pathway in skin and hair follicle stem cells. It is effective for hair loss symptoms such as androgenetic alopecia and alopecia areata and is expected to have excellent hair loss prevention effects. JW Pharmaceutical participated in the 'Wnt2022' conference held in Japan last November and disclosed the results of the preclinical study of JW0061. JW Pharmaceutical also disclosed the results of animal experiments that confirmed the superior hair growth and hair follicle generation effect of JW0061 compared to the placebo group. As a result of animal experiments where JW0061 was applied, the time to enter the hair growth phase, which took an average of more than 50 days, was advanced by more than 15 days (30%). JW Pharmaceutical is conducting GLP non-clinical toxicity evaluation with the goal of starting clinical trials of JW0061 in the first half of 2024. We are also conducting joint research with medical staff in the field of dermatology in the United States.
