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Consumer recession chills pharmacies
Pharmacies are facing a consumer recession over over-the-counter (OTC) drugs, with ongoing troubles in equity and property markets sending consumer confidence into tailspin, evidence that the economy is heading south ...
Bayer Schering CEO to visit Korea
Andreas Fiebig, chairman and CEO of Bayer Schering Pharma AG, will visit Samsung Medical Center (SMC) in Seoul during his three-day visit to Korea this week.
Fiebig and some officials arrived in Korea on November 2...
Economic slump impact drugmakers
The local pharmaceutical industry has seen record-breaking raw material prices, which rose sharply earlier in the year due to the Korean currency’s steep fall.
Now it is plagued by falling demand, and many companie...
Yonsei Medical Center to use more generic drugs
Yonsei Medical Center is considering prescribing more generic drugs as complaint is rising over its higher medication costs than other leading hospitals.
To this end, the center plans to introduce an open bidding s...
LG CNS to cooperate with medical institutions
LG CNS and Intel plans to boost the domestic home healthcare industry in collaboration with leading hospitals and other medical institutions.
LG CNS and medical representatives, including Yonsei medical Center, Inh...
Pharmaceutical firms to downsize production and wholesaling units
Korea’s pharmaceutical companies are likely to trim their production and wholesaling sectors as part of restructuring to counter rising raw materials prices and higher manufacturing costs.
A whirlpool of production...
Price re-assessment of Crestor is still under negotiation
Now all eyes are on the Health Insurance Review & Assessment Service’s committee decision on the price readjustment of Crestor, a lipid-lowering agent.
According to the HIRA, the re-assessment is likely to take tim...
226 items to benefit from health insurance
The Ministry of Health, Welfare and Family Affairs announced on November 21 that 226 medicines including MSD’s Januvia will be eligible for health insurance from next month.
The ministry also said that 26 items inc...
Benefits over ban of duplicate prescriptions of same ingredient are minimal
The government plans to discourage the reissued prescriptions of same ingredient in fear that it will not be help to helpful to the budget for national health insurance, but such measure is not deemed economical, acco...
Government to spend 3.8 bn over R&D of Ilyang’s leukemia medicine
The government plans to earmark 3.8 billion won for Ilyang Pharm’s new leukemia treatment candidate IY5511 that has the potential to be used as a drug, it was announced on November 24.
The Korea Health Industry Dev...
