Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.
Korean firms making slow progress in developing COVID-19 treatments
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By Jun Ji-hye
By Jun Ji-hye
Korean pharmaceutical companies have been making slow progress in developing treatments for COVID-19 due mainly to difficulties in recruiting patients for their clinical trials.
According to the Ministry of Food and Drug Safety, Sunday, clinical trials of a total of 13 potential COVID-19 treatments from domestic drug companies are currently underway following the ministry's approval.
Among them, however, companies such as CrystalGenomics, Dongwha Pharm, Immunemed and Green Cross Wellbeing have yet to administer their drugs to actual patients.
The drug safety ministry approved CrystalGenomics to perform Phase II clinical trials of its potential COVID-19 treatment in July last year. The company was planning to perform the trials on a group of 100 patients to assess how well the drug worked, but has yet to recruit test subjects
Dongwha Pharm was also approved to perform Phase II clinical trials in November, but has yet to begin procedures to recruit patients.
“Since we selected a contract research organization in January, we have been working to secure medical institutions at which the trials can be performed. We have yet to begin recruiting patients, though,” a company official said.
Immunemed and Green Cross Wellbeing were approved to perform trials of their potential COVID-19 treatments in December last year and February this year, respectively, but have yet to secure test subjects, either.
An Immunemed official said though the firm has yet to begin administering its drug to patients in Korea, the trials have been going smoothly in Russia, Indonesia and Italy.
Industry officials said domestic pharmaceutical companies have been facing difficulties in recruiting subjects for their clinical trials, as the number of COVID-19 patients in Korea has been comparatively lower than in other countries. In addition, the government began the nation's vaccination program in February.
With the recruitment of trial subjects becoming more difficult here, some pharmaceutical companies are planning to recruit patients for their trials overseas.
The Ministry of Health and Welfare said the government will take a two-track policy of importing COVID-19 vaccines and treatments, and supporting domestic firms' development, in a bid to overcome the public health crisis at the earliest date possible.
On Friday, the ministry said the government will spend 645.1 billion won ($578 million) on research and development of new drugs including COVID-19 vaccines and treatments.
“Though a technological gap with developed countries still exists, our pharmaceutical and bio industry could take a leap forward if the private and public sectors join forces,” said Health Minister Kwon Deok-cheol.