Korea's Samyang sets up US unit

The Korean conglomerate Samyang has established a US pharmaceutical R&Doperation in Sandy, Utah, which will develop new drug delivery systems. As well as the latter, Samyang Research Corp will conduct clinical studies for the parent company's pharmaceutical division and will attempt to expand collaborations with leading US drugmakers and biotechnology firms.

SRC's president, Hun Seung Oh, said Samyang chose Utah because of its central location, highly-educated workforce and pro-business environment. He added that another factor was the company's long-standing association with MacroMed and the University of Utah. As well as MacroMed, Samyang has, in the past, invested significant amounts in another Utah-based group, TheraTech, now part of Watson Pharmaceutical.