Bio Industry Calls for Presidential Direct Control Tower 'Je-yak Bio Innovation Committee'

Won Hee-mok, President of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, New Year Press Conference

Won Hee-mok, Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, delivers a key message at the New Year's press conference held online on the 24th. (Photo by Korea Pharmaceutical and Bio-Pharma Manufacturers Association)

[Asia Economy Reporter Lee Chun-hee] To make this year the "year of a great leap forward for K-pharmaceuticals and bio," there have been calls for bold government support, including the establishment of a presidential control tower called the "Pharmaceutical Bio Innovation Committee."

Won Hee-mok, chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, stated at an online New Year's press briefing on the morning of the 24th, "We will firmly protect pharmaceutical sovereignty by using the government's strong fostering and support as a stepping stone for a leap forward, and we will definitely realize the dream of becoming a global pharmaceutical and bio powerhouse."

Regarding last year's achievements, Chairman Won said, "The industry's capabilities and the government's swift and close support backed us during the national crisis," citing Celltrion's COVID-19 antibody treatment 'Rekkirona' and the domestically produced COVID-19 vaccine expected to be launched within the year by SK Bioscience as representative success cases.

However, Chairman Won pointed out that the proportion of the bio sector in this year's government research and development (R&D) budget is 11.4%, which is small compared to advanced countries such as the United States at 30% and Belgium at 40%, and especially noted that the share of applied research is decreasing, making overall support grossly insufficient. He said, "Without bold government fostering and support policies, exponential growth is impossible."

To this end, Chairman Won proposed the prompt establishment of the Pharmaceutical Bio Innovation Committee as an all-cycle control tower. Since support functions within the government are scattered and inefficient, he argued that an integrated control tower should be established and that the number of review personnel supporting new drug development should be significantly increased to actively support development. This was also the most critical policy proposal highlighted by Chairman Won. He emphasized, "It is also the foundation for increasing the feasibility of other policy proposals," adding, "An integrated governance system that can establish and foster mid- to long-term strategies for the pharmaceutical and bio industry through selection and concentration must be built."

Requests for full support to expand the R&D budget and establish vaccine sovereignty and pharmaceutical sovereignty also followed. Chairman Won said that for the development of COVID-19 vaccines, treatments, or blockbuster new drugs, "R&D investment should be expanded, open innovation activated, promising Phase 3 clinical candidates selected and actively supported, and late-stage clinical trials focused on," and since a positive atmosphere is forming within the government, he expects domestic new drug development to be revitalized soon.