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Concerns rise among Korean drug makers
The domestic pharmaceutical sector is expected to face an inevitable blow with major drug companies from the United States taking a stronger hold of the local market following the Korea-US free trade agreement.
Und...
Government urged to reconsider drug pricing reform
The government plans to slash the price of about half the drugs on the market by an average of 14 percent, the Ministry of Health and Welfare said on October 31.
The measure will overhaul how drugs are priced. Cur...
Doctors demand establishment of public health pharmacy for easier access to OTC drugs
The Korean Medical Clinic Association (KMCA), a group of clinic doctors, said Monday that the government should consider the plan to set up the public health pharmacy to enhance consumer convenience and safety.
The...
KORUS-FTA may be efficient tool to defy measure designed to reduce insurance expenditures
The country’s pharmaceutical companies face tough times ahead with the new Korea-U.S. Free Trade Agreement that will put a brake on the generic-focused Korean industry.
As for the pharmaceuticals industry, the intr...
Some drug makers dumbfounded by pending bill to revise pharmaceutical affairs law
When the government legalized the sale of 48 over-the-counter (OTC) drugs outside pharmacies across the country in late July, the move was hailed by pharmaceutical firms and consumer advocacy groups. It was one of the...
Cabinet endorses bill on license of drug manufacturer and wholesaler
The government on Tuesday approved a bill aiming to introduce the so-called negative license system for drug manufacturers and/or wholesalers, stepping up efforts to enhance the predictability of license grant system....
BMS Korea promotes two executives in shake-up
Bristol-Myers Squibb (BMS) Korea, a local subsidiary of the U.S. pharmaceutical giant, yesterday promoted two directors Lee Sung-Yoon and Shim Mi-na to executive managing director in a management reshuffle.
Lee, th...
Afinitor gains KFDA approval to treat patients with advanced pancreatic neuroendocrine tumors
Novartis Korea announced Monday that the Korea Food and Drug Administration has approved Afinitor (everolimus) tablets for the treatment of unresectable or metastatic, well- or moderately-differentiated neuroendocrine...
Massive drug price cuts and KORUS FTA take toll on drug makers
The government should work out measures to boost the domestic pharmaceutical industry by lowering generic prices by phase, the Korea Pharmaceutical Manufacturers Association said Monday.
In a statement carried in m...
Pharmaceutical sector in big trouble
The local pharmaceutical sector is reeling from possible impacts of the Korea-US free trade agreement, amid the government’s pressure to cut drug prices.
The real concern lies in the possibility that Korea drug mak...
