In August 2002, LG Life Sciences was upgraded from a business division to a full-fledged LG affiliate in order to grow as a life sciences specialist and maximize shareholder value.
LG Life Sciences began research in genetic engineering in 1981 and has invested steadily in the life sciences ever since. This effort has already resulted in world-class technology and product capabilities. The company has focused R&D resources and know-how on three areas-pharmaceuticals, animal health and specialty chemicals.
LG Life Sciences has developed and commercialized an array of pharmaceuticals over the years. These include interferon in 1989 (Intermax-gamma) and 1992 (Intermax-alpha), hepatitis B vaccine in 1992 (EUVAX B™), human growth hormone in 1993 (EUTROPIN™), degenerative arthritis treatment in 2005 (HYRUAN Plus™), rhFSH (recombinant human follicle stimulating hormone) in 2006 (Follitrope™), and SR-hGH (Sustained Release-human Growth Hormone) in 2007 (Declage™). A company milestone was reached in 2003, when its next-generation quinolone antibiotic (FACTIVE®) was approved by the FDA in the United States.
LG Life Sciences has succeeded in animal health products including the 1994 commercialization of recombinant bovine somatotropin (BST, product name BOOSTIN®). The product, which is used to increase milk production in lactating dairy cows, has achieved the top share in numerous national markets. In 2006, LG Life Sciences has also launched a bovine mastitis vaccine (MastaVac) that reduces the number of somatic cells, relieving clinical symptoms in a cow that has been infected with mastitis.
As for specialty chemicals, LG Life Sciences completed in-house development of Korea's first new herbicide (PYANCOR®) for rice in 1997 and fungicide (GUARDIAN®) for use in horticulture in 1999. A new herbicide (FLUXO®) for both pre- and post-emergence rice was completed in 2004.
LG Life Sciences has a vision to become a "top-tier life sciences company with world-class new drugs". To this end, LGLS is expanding its strategic alliances and fostering its capabilities to identify candidate drugs for development. Indeed, the company's development of new medicines is accelerating and marketing competencies are being focused on advanced markets.
In the future, LG Life Sciences will remain a leader in life sciences and biotechnology-value added areas that are knowledge intensive.