Samjin Pharm, renowned for its pain reliever Geworin, is pivoting to become a research and development (R&D) focused pharmaceutical company through innovative drug development. In response to the government’s aggressive medication price reduction policies, the company aims to shift its portfolio from generic drugs to novel therapeutics.
Industry sources reported on Thursday that Samjin Pharm, established on April 18, 1968, is approaching its 60th anniversary. The company has strengthened its market position through strategic moves, including the acquisition of Daehan Jangi Pharmaceuticals, the establishment of a central research institute, the construction of its Hwangnam plant in Hwaseong, and its initial public offering.
In the 2000s, Samjin built crucial infrastructure for pharmaceutical operations, including a new headquarters in Seoul, the Osong plant in Cheongju, and the Magok Research Center in Seoul.
Samjin’s flagship product is the anti-inflammatory analgesic Geworin. Launched in 1979 after receiving domestic approval, it has become a key revenue driver, capitalizing on its strong brand recognition. Samjin has expanded the Geworin product line to enhance consumer convenience, solidifying its position as a core offering.
The company’s growth has also been fueled by prescription medications developed for hyperlipidemia treatment, such as Neustatin R Tab (rosuvastatin calcium) and Newstatin A Tab (atorvastatin calcium trihydrate).
However, due to its revenue structure heavily reliant on patent-expired ingredients and generic or incrementally modified drugs, industry experts have identified Samjin as potentially vulnerable to the government’s proposed generic drug price reductions. The government’s plan to lower the price calculation ratio for generics from 53.55% to the 40% range has raised concerns about a significant impact on Samjin’s financial performance.
To address this challenge, Samjin Pharm has decided to intensify its focus on new drug development, adopting a selection and concentration strategy. The company plans to expand global partnerships centered on its immunology and inflammation pipeline, as well as its next-generation antibody-drug conjugate (ADC) platform, while demonstrating research achievements through phased technology transfers.
Since opening its Magok Research Center in late 2021, Samjin has significantly increased investments in new drug R&D. Over the past four years, the company has rapidly expanded its pipeline, identifying and initiating over 20 new research projects focused on immunology, inflammation, oncology, and platform technologies.
A Samjin Pharm spokesperson stated that it anticipates a reevaluation of our corporate value through ongoing R&D efforts. Given the government’s drug pricing reforms, companies focused on generics will face challenges. It is committed to completely transforming our business portfolio away from generics. Its future lies in R&D, which it believes will lead to a significant reassessment of the corporate value.
The spokesperson added that recent industry trends show growing interest in dual payload development. They’ve received inquiries from international firms interested in combining its payload technology to create dual payload ADCs, highlighting the potential in this area.
Samjin Pharm’s core strategy centers on artificial intelligence (AI) driven drug discovery and development. The company has been at the forefront of applying AI technology to its research efforts, collaborating with over ten AI drug development firms in the past three years. This approach has led to Samjin’s selection as a lead or participating institution in six major national research projects.
Last month, Samjin was officially invited to participate in JPMorgan Chase (JPM) Week 2026 in San Francisco, where it engaged in discussions with major pharmaceutical companies and investors about potential collaborations. The company aims to leverage its expanding global network to translate these discussions into concrete business opportunities through technology transfers and joint development initiatives.
The spokesperson concluded that they are committed to expanding the global partnerships, focusing on the immunology and inflammation pipeline and ADC platform. Its goal is to demonstrate tangible research achievements through strategic, phased technology transfers.