Novartis to invest $95 mil. in Korea cancer radiotherapy supply chain

Swiss pharmaceutical giant Novartis is set to invest about 140 billion won ($95 million) to build a domestic radioligand therapy (RLT) ecosystem in Korea, covering research, production and treatment.

Health and Welfare Minister Jeong Eun-kyeong and Novartis Asia-Pacific, Middle East and Africa President Judith Love signed a memorandum of understanding on the plan in Yongsan District, Seoul, Tuesday.

RLT is a treatment that uses a radioactive substance attached to a molecule designed to target proteins on cancer cells, damaging their DNA to kill them.

“Novartis has invested in and cooperated with Korean pharmaceutical companies in areas including technology transfer and clinical research,” the ministry said in a statement.

“This investment extends that cooperation into the advanced bio sector and is expected to strengthen research, development and manufacturing capabilities in Korea's radiopharmaceutical industry.” Under the agreement, Novartis will build a domestic RLT manufacturing facility with an advanced cold chain logistics network.

The company also aims to expand hospitals ...