Global Biosimilar Market Grows Fastly...Daewoong Pharmaceutical Announces Market Entry
Jul 22, 2025
Biosimilars with short development period and high success rate of development and approval compared to new drugs are attracting attention as a reasonable treatment option to replace expensive biopharmaceuticals.
In particular, the European Medicines Agency's (EMA) new guideline (Reflection Paper), which can be approved with only quality data and phase 1 clinical trials without phase 3 clinical trials, was announced in March this year, making it possible to reduce development risks and increase cost competitiveness.
According to IMARC Group, a global market research firm, the global biosimilar market is expected to reach KRW 36 trillion (US$26.5 billion) last year, reaching KRW 250 trillion (US$185.1 billion) by 2033. The market is rapidly expanding, focusing on the demand for patent expired items and medical expenses reduction.
Under such market conditions, Daewoong Pharmaceutical announced its entry into the biosimilar business.
Daewoong Pharmaceutical plans to actively seek domestic and international partnerships for the antibody drug biosimilar business, and is preparing to expand its development items and enter major markets such as Europe and the United States in the long term to become a global bio company"We are fostering biosimilars as the next-generation core business group, and we plan to quickly secure global competitiveness based on our existing protein drug research and development, production, and commercialization capabilities "
Daewoong Pharmaceutical plans to push for higher licensing and launch success rates compared to competitors, rapid market settlement and sales expansion through close strategic cooperation with biosimilars and CDMO companies at home and abroad as well as its own development capabilities.
In line with its entry into the market, Daewoong Pharmaceutical recently appointed Dr. Hong Seung-seo, who has nearly 20 years of experience in biosimilars, as the head of the BS business division.
Director Hong is a person who directly led the entire cycle from 2002 to 2019 from Celltrion and Celltrion Healthcare to global commercialization of biosimilars. He has demonstrated his ability and leadership in the global market by serving as president of Celltrion's research division, CEO of Celltrion Healthcare, and CEO of LOP Bio. He is currently in charge of Daewoong Pharmaceutical's biosimilar business.
Park Sung-soo, CEO of Daewoong Pharmaceutical, said, "As Daewoong Pharmaceutical has accumulated experience and global partnership capabilities through various drug development and commercialization, it will be able to show differentiated execution power through joint development as well as self-development in the biosimilar market. We plan to implement mid- to long-term strategies step by step with the aim of establishing ourselves as meaningful players in the global market, not just short-term achievements."
In particular, the European Medicines Agency's (EMA) new guideline (Reflection Paper), which can be approved with only quality data and phase 1 clinical trials without phase 3 clinical trials, was announced in March this year, making it possible to reduce development risks and increase cost competitiveness.
According to IMARC Group, a global market research firm, the global biosimilar market is expected to reach KRW 36 trillion (US$26.5 billion) last year, reaching KRW 250 trillion (US$185.1 billion) by 2033. The market is rapidly expanding, focusing on the demand for patent expired items and medical expenses reduction.
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Daewoong Pharmaceutical plans to actively seek domestic and international partnerships for the antibody drug biosimilar business, and is preparing to expand its development items and enter major markets such as Europe and the United States in the long term to become a global bio company"We are fostering biosimilars as the next-generation core business group, and we plan to quickly secure global competitiveness based on our existing protein drug research and development, production, and commercialization capabilities "
Daewoong Pharmaceutical plans to push for higher licensing and launch success rates compared to competitors, rapid market settlement and sales expansion through close strategic cooperation with biosimilars and CDMO companies at home and abroad as well as its own development capabilities.
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Director Hong is a person who directly led the entire cycle from 2002 to 2019 from Celltrion and Celltrion Healthcare to global commercialization of biosimilars. He has demonstrated his ability and leadership in the global market by serving as president of Celltrion's research division, CEO of Celltrion Healthcare, and CEO of LOP Bio. He is currently in charge of Daewoong Pharmaceutical's biosimilar business.
Park Sung-soo, CEO of Daewoong Pharmaceutical, said, "As Daewoong Pharmaceutical has accumulated experience and global partnership capabilities through various drug development and commercialization, it will be able to show differentiated execution power through joint development as well as self-development in the biosimilar market. We plan to implement mid- to long-term strategies step by step with the aim of establishing ourselves as meaningful players in the global market, not just short-term achievements."
This article was translated by Naver AI translator.
