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Pharmas to control wholesalers over rebates through ‘CP’ and ‘Fair Trade Agreement’

While a pharmaceutical company started to intensively control its client wholesalers as part of the rebate eradication plan, it has been spread to other pharmaceutical companies. Recently, a pharmaceutical company se...

Registered medicines are now available to acquire separate approval as orphan drug

In order to promote manufacturing of orphan drugs, a system will be improved for already registered medicines to acquire separate product approval as am orphan drug. The Minister of Food and Drug Safety(Minister Youn...

Loopholes of preferential sale approval system causes damages on pharmas

Loopholes of the preferential sale approval system, which was implemented to shorten times to commercialize generics drugs by nullifying an original product’s patent, have caused delays for generics to be launched eve...

Eased responsibilities for challenging research failures

In order to promote R&D, the government will ease responsibilities for failures, but tighten restrictions on repeated wrongful uses of R&D expenses. The Ministry of Trade, Industry and Energy(Minister Woon-Kyu Baek, ...

Kolon Life Science conducts overseas marketing services to attract foreign patients for ‘Invossa’

Kolon Life Science(CEO Woo-Seok Lee) announced on the 13th that the company signed a strategic MOU for Invossa K Inj to attract foreign patients with the Korea Medical Tourism Promotion Association(President Chun-Ki J...

Pharmas extend rebate control to client distributors

While the pharmaceutical industry has recently had rebate issues once again, individual pharmaceutical companies are tightening their own rules to eradicate rebates. They have only performed a program to eradicate re...

Daewoong Pharmaceutical acquires preferential sale right in KRW 150 billion hepatitis B generic market

Daewoong Pharmaceutical will enter the market of ‘tenofovir,’ a hepatitis B treatment, worth of approximately KRW 150 billion. Daewoong Pharmaceutical(CEO Jong-Wook Lee) announ...

Health and Welfare Committee conducts parliamentary inspections between 12th and 31st of October

Regular parliamentary inspections of the government offices will be conducted between the 12th and 31st of October. Ruling and opposing parties of the National Assembly Health and Welfare Committee agreed to have ins...

Tonymoly gives up acquisition of Tai Guk Pharm, largest dermatologic product company

Tonymoly, a cosmetic brand, gave an official notice to acquire Tai Guk Pharm(decided to acquire 5.826 million shares, KRW 14 billion), the Korea’s largest pharmaceutical company specializing in dermatologic products, ...

MFDS announces 2,020 products applied differentials for small packaging rule

On 13 September, the Ministry of Food and Drug Safety(MFDS) announced 2,020 products which do not follow the differential small-quantity packaging standards for medicines. The announcement indicated 655 products for ...

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