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Government urged to introduce fixed budget system for pharmaceuticals

Korea needs to introduce a fixed drug budget (FDB) by stages in a bid to curb the ever-increasing drug expenditure, the National Health Insurance Corporation said. Under the increasingly constrained health budget s...

Government urged to take tougher distribution standards on first-aid products

A total of 11 over-the-counter drugs including analgesics and painkillers will be sold at 24-hour convenience stores around the country starting Nov. 15. However, the Korea Pharmaceutical Wholesaler Association (KP...

Employees at multinational drug firms to receive longer paid vacations

Most of multinational drug firms here will allow employees to take longer leaves that stretch from the last week of this month to New Year’s Day, as their headquarters offer employees long winter breaks every year. ...

Two drug firms sanctioned for illegal rebate

The Korea Food and Drug Administration ordered Ilsung Pharm and Aju Pharm to stop sales of some drugs for one month. Accused of providing money to doctors and pharmacists in return for prescriptions and drug order...

Drug makers spend 35% of revenue on promotion

Details of drug maker's spending revealed Monday show that the country's 53 pharmaceutical companies on average spend 35 percent of their revenue on marketing and hospitality during the nine months of the year, showin...

KMA, health ministry poles apart over medical fee

Without a doubt, the tension between the Ministry of Health and Welfare and the Korean Medical Association (KMA) is culminating this week. Currently, doctors are demanding more say in deciding medical fees and are...

Whanin wins patent suit against SK Chemicals

Whanin Pharm has won the right to market a combination form of ginkgo biloba extract and cilostazol. The company announced Monday that it secured the right to sell its new platelet aggregation inhibitor on Korean m...

Huons conduct shakeup

Huons announced changes to its top management, Saturday. Following the reshuffle, Uhm Ki-An, formerly a research head to SK Chemicals, has been named as new research head of ...

Gemiglo, Viagra included in green list with drug patents

The Korea Food and Drug Administration has recently said that in November, a total of 216 drug products, including LG Life Sciences’ Gemiglo, Pfizer’s Viagra and Dong-A Zydena, were included in its green list, which c...

Drug makers to grapple with worst performance

Local drug manufacturers are seeking ways to boost their sluggish sales in overseas markets abroad as their profits continue to fall in the domestic market after comprehensive price cuts of drugs by the government in ...

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