News About: Pharm. Industry
Hanmi’s Viagra generic sees huge sales spike on growing demand
Sales of Hanmi Pharmaceutical’s Viagra generic drug ‘Palpal tablets’ are on a roll thanks to their aggressive marketing campaign and pricing advantage over the American pharmaceutical firm Pfizer’s original drug, acco...
Pharmaceutical firms brace for effects of gov’t-imposed price cuts
This is likely to be a grueling year for Korean pharmaceutical companies as they feel the brunt of government-imposed price cuts.
Last April, the Ministry of Health and Welfare lowered the prices of 6,506 different...
Drug makers spend 35% of revenue on promotion
Domestic drug firms have still spent a larger proportion of their annual revenue on promotion to boost sales amid worsening profitability due to the government-mandated cuts in drug prices.
Details of drug company ...
Multinational firms increase market share
With foreign drug makers taking a bigger share of the domestic prescription market and mid-tier companies facing restructuring, Korea's pharmaceutical industry is expecting major changes.
According to IMS data, Do...
Green Cross becomes largest shareholder of Innocell
Green Cross Corp. recently purchased 23.43 percent in shares of Innocell, a Korean cell therapeutics company.
The company announced Thursday in a regulatory filing that it acquired Innocell as the largest sharehold...
Pharmaceutical firms’ profits tumble in 2Q
Local drug companies saw a substantial setback in their performance in their fiscal second quarter with operating profits more than halved due to fallout from the government-mandated cuts in drug prices in April.
A...
Samsung Pharmaceutical veers into DNA-sequencing service market
Samsung Pharmaceutical Co., which has been struggling to stay the course amid deepening business recession, is trying to find a breakthrough by joining DNA-sequencing service market with a local biopharmaceutical firm...
Korea to spend 10 billion won to support two drug firms
The Ministry of Knowledge Economy unveiled a set of plans to support Daewoong Pharmaceutical and HanAll Biopharma as part of its efforts to develop globally competitive drugs whose chemical structure is modified.
T...
Abbott Korea gets approval for additional indication of Humira
Abbott Korea announced Monday that they have received approval from the Korea Food and Drug Administration for treatment of moderate to severe ulcerative colitis (UC) as an additional indication of Humira (adalimumab)...
OTC marketing campaign seen to be intensified
To prepare for government-mandated cuts in drug prices, major Korean drug makers are likely to launch their earlier marketing campaign for over-the-counter drugs ahead of the Chuseok (Thanksgiving) holiday to avoid lo...
