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Lawmaker calls for more rational approach to new drug pricing policy
The government’s unilateral policy to cut the prices of generic prices may increase the use of name-brand medicines rather than cheaper alternatives as the former usually yields higher profit margins for the companies...
Pharmaceutical companies stalling on plant construction plan
Reflecting increasing uncertainty in the domestic pharmaceutical industry due to the government’s plan to cut drug prices starting next year, big corporations, Dong-A and Daewoong, are delaying the construction or re-...
Pharmaceutical wholesalers still sweating over falling margin
A majority of drug wholesalers are still struggling to sustain the current wholesaler margin, an industry observer said.
The government’s plan to cut the prices of generic drugs starting next year has led many drug...
Illegal rebates are still prevailing, health minister says
Since November, the government has been applying dual-punishment on both the giving and receiving ends of illegal rebates, but some unscrupulous drug producers are unable to quit the bad habit of offering kickbacks to...
Health ministry to submit bill to allow sales of OTC drugs in supermarkets
Following the reclassification of 48 medicines in July, which allows them to be sold in supermarkets and convenience stores, the Ministry of Health and Welfare also plans to submit a bill to allow the sale of other no...
Supermarket sales of OTC drugs unlikely
Aspirin and other over-the-counter (OTC) drugs are unlikely to be sold at supermarkets as the top lawmakers of the main ruling and opposition parties opposed expressed a negative view of the idea.
Currently, only ...
Monopoly on OTC drugs needed to ensure public safety, lawmaker says
Rep. Won Hee-mok of the ruling Grand National Party said Tuesday that even OTC drugs, mainly light cough drops, painkillers and digestion pills, need directions and monitoring from pharmacists, citing possible misuse ...
Assembly forum over new drug price reform to be planned
Rep. Lee Jae-sung of the opposition Liberty Forward Party said Monday that he will create a forum aiming at discussion the government’s plan to cut drug prices by an average of 17 percent starting next year.
The fo...
Drug pricing reform will hurt domestic sector
A report released by IMS Health Korea said Korea's pharmaceutical sector could lose up to 2.28 trillion won if the government’s measures to cut medicine prices are adopted as planned starting next year.
“We have re...
Patents set to expire soon on many brand-name drugs
Patents for many blockbuster brand-name drugs begin expiring at a rapid pace in 2011 and will continue for the next few years.
Facing increased competition from generics, drug companies are busy developing new pipe...
