The Ministry of Health and Welfare (MoHW), South Korea, and Novartis have signed a Memorandum of Understanding (MoU) under which the company will invest approximately KRW 140 billion to build a radioligand therapy (RLT) ecosystem encompassing research and development, manufacturing, and treatment in Korea.
The MoU will support plans to build an RLT manufacturing facility, expand the number of hospitals capable of administering RLT, and train specialised personnel.
The investment is expected to reduce barriers to treatment for patients while strengthening Korea’s radiopharmaceutical research and manufacturing capabilities.
Under the agreement, Novartis plans to invest approximately KRW 140 billion in Korea. Drawing on Korea’s strong healthcare infrastructure and research talent, the company will work in strategic partnership with the MoHW to help lay the foundation for Korea’s RLT ecosystem by developing new RLT medicines, training RLT research and development specialists, and improving patient access to RLT.
Specifically, Novartis will focus its investment on building an RLT manufacturing facility and an advanced cold-chain logistics network in Korea, expanding the number of hospitals equipped to administer RLT, and developing a world-class RLT research workforce.
Image caption- Health and Welfare Minister Chung Eun-kyeong (left) and Judith Love, President of Novartis Asia-Pacific, Middle East and Africa
