Researchers at Daewoong Pharmaceutical perform experiments within the laboratory. (Daewoong Pharmaceutical)
South Korean drug maker Daewoong Pharmaceutical stated Monday that greater than 88 % of its patents registered over the previous 5 years within the nation have been for brand new medicine, reflecting the agency’s efforts to reinforce its competitiveness in each home and international markets by way of the event of superior prescribed drugs.
In response to information from the Ministry of Meals and Drug Security, Daewoong registered 9 home patents from 2020 to September 2024. Of those, eight are associated to the agency’s proprietary medicine: Envlo, an SGLT-2 inhibitor for diabetes therapy, and Fexuclue, a therapy for gastroesophageal reflux illness (GERD).
Daewoong defined that this achievement displays the agency’s strategic shift from counting on generic drug improvement to specializing in creating and securing patents for its personal new medicine. This method has not solely strengthened its home competitiveness but additionally boosted its international presence.
Over the previous 5 years, Daewoong has filed 847 abroad patent purposes and registered 459 patents globally. By securing mental property rights for brand new medicine overseas, which grant unique rights within the nations the place the patents are registered, Daewoong can defend its improvements and additional develop into worldwide markets, the agency added.
As well as, Daewoong has bolstered its new drug improvement efforts by way of its worker invention compensation program, which has been in place since 2012 — by which the agency encourages innovation amongst workers by rewarding their contributions.
Daewoong Pharmaceutical and its guardian firm, Daewoong, additionally obtained recognition for his or her innovation efforts from the Korean Mental Property Workplace and the Korea Invention Promotion Affiliation, with Daewoong Pharmaceutical being honored in 2021 and Daewoong in 2024.
“The excessive proportion of patents associated to new medicine demonstrates our strengthened technological edge in international markets. It additionally exhibits how we’re rigorously making ready for sustainable progress,” stated Lee Chang-jae, CEO of Daewoong Pharmaceutical. “We’ll proceed to solidify our place within the international pharmaceutical trade by way of the event of modern medicine.”