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Necessity of having a control tower for policy and support related to new drug development

With the goal of nurturing the Korean biopharmaceutical industry, an argument was strongly proposed that policies related to R&D support from each governmental department should be carried out to accelerate new drug d...

What is the reason why pharmaceutical sales reps are likely to chance jobs?

As pharmaceutical companies have been working hard to reduce selling, general and administrative(SG&A) expenses to secure profitability, it was analyzed their sales were highly likely to change jobs recently. Accordi...

MFDS tightens standards of safety control on pharmaceutical ingredients

Standards of safety control for additive ingredients used in pharmaceutical manufacturing processes will be tightened. The Ministry of Food and Drug Safety(MFDS) announced it obligated submission of documents about p...

Coffee and snacks used as promotional product must follow restriction of price less than KRW 10,000

An interpretation was proposed that if being clearly used as a promotional product, food and beverages, such as coffee, should also follow the Pharmaceutical Affairs Law which restrict price under KRW 10,000(including...

Obligation of adding ethics education in doctors’ refresher training program proposed

In order to strengthen moral and ethical responsibility on health care providers, the government will work on legalizing additional compulsory education. Justice Party Rep. So-Ha Yoon representatively proposed the ‘P...

What are innovative plans of pharmaceutical industry towards Fourth Industrial Rev.?

A place will be arranged for Korea to become a global pharmaceutical power ahead of the Fourth Industrial Revolution. The Pharmaceutical Society of Korea(President Ae-Ri Moon) and the Korea Pharmaceutical and Bio-Pha...

MFDS revises details of approval for ‘Propofol injections’

The Ministry of Food and Drug Safety announced revisions in details of approval, such as adding occurrence of acute, congestive heart failure to the usage precautions of ‘propofol injection,’ an antipsychotic. There ...

3 Huons Global-affiliated companies receives investment worth of KRW 12 billion

Huons Global(CEO Sung-Tae Yoon, Won-Sup Kim) announced on the 12th that Korea Investment Partners, the Korea’s largest venture capital, and Korea Development Bank jointly invested the total KRW 12 billion into 3 compa...

Strict restriction on SH Pharm for providing illegal rebates

The Fair Trade Commission(Chairman Jae-Chan Jeong, hereinafter referring to FTC) decided to impose a correction order to SH Pharm(located in Busan), a pharmaceutical distribution company that provided financial benefi...

Cosmetic companies make KRW 11 out of selling KRW 100 in 1st quarter

Net profits made by major Korean cosmetic companies in the 1st quarter of the year were dropped compared to the same quarter of the last year, but were largely increased compared to the last quarter(4th quarter of 201...

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