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S Korean pharma laid low by global retreat and Samsung scandal

Scandal compounds grim mood as international partnerships flop

Samsung Bioepis had high hopes for a diabetes biosimilar project with Merck, until the U.S. side canceled the deal. 

SEOUL -- South Korea's pharmaceutical companies are being frozen out of partnerships by major European and U.S. partners, hitting an industry already rocked by the Samsung BioLogics accounting scandal.

The country's drugmakers have faced a string of failed product development attempts. This has lessened their attraction for global pharma companies who are increasingly looking to startups or universities for partnerships. Failures are par for the course in a business where the success rate is estimated at 1 in 30,000, yet South Korean players' shares are falling across the board. 

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