Singapore, May 7, 2008: Developing a strong pharmaceutical industry is a key issue in Korea. So much so, that, Battelle-Korea, the non-profit independent research and development organization and YuYu, the pharmaceutical company intends to collaborate and address the issue. A Korean corporation named International Scientific Standard (ISS) will be formed to develop a bioequivalency business in Chuncheon City, Gangwon Province that will meet international Good Laboratory Practices (GLP) standards.

 

The release noted that ISS will perform studies that enable Korean pharmaceutical products to be certified by the US Food and Drug Administration (FDA) and regulatory bodies in many countries around the world. This capability of ISS will enable pharmaceutical products developed by the Korean domestic companies to be sold in overseas markets, such as the US and Europe.

 

"This is a very promising collaboration. The opportunities to develop a stronger pharmaceutical industry, advance biotechnology initiatives, and provide greater energy efficiency can only be achieved through working cooperatively," said Mr Joan Adams, President and CEO of Battelle Korea."

 

Headquartered in Columbus, Ohio, Battelle is the world's largest non-profit independent research and development organization, providing innovative solutions through its four global businesses: Laboratory Management, National Security, Energy Technology, and Health and Life Sciences. It advances scientific discovery and application by conducting $4 billion in global R&D annually through contract research, laboratory management and technology commercialization.