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Wholesalers slam multinational firms for bribery scandal
Domestic pharmaceutical wholesalers have accused several large foreign companies over the past several months of illicit drug marketing and other activities to boost drug sales.
They accused multinational companies...
Health insurance suffers 54.3 billion shortfall in July
The National Health Insurance Corporation reported that the national health insurance ran a 54.3 trillion won deficit in July, with its cumulative surplus of 1.38 trillion won for the January-July period.
Its total...
Could partnership be new destination for Korean firms?
Dong-A Pharmaceutical, Korea’s largest drug manufacturer, said last month that it has established a marketing and distribution partnership with Bayer Korea.
The Korean company said that the partnership can lower co...
Six drug makers fined for illegal rebates
The Fair Trade Commission (FTC) said Sunday that it has fined five multinational companies and one local firm a total of 11 billion won for illegal kickbacks.
The six companies are Janssen Korea, Sanofi-Aventis Kor...
Multinational firms embroiled in bribery scandal
Five multinational companies and one local firm have been criticized for having provided illegal kickbacks to doctors in exchange for prescribing his products, while they have so far claimed the ethics management.
...
KFDA to reclassify 6,879 drugs
The Korea Food and Drug Administration said Thursday it plans to complete the re-classification of 6,879 medicines from 329 companies by the end of this year, after forming a special task force consisting of experts w...
Illegal kickbacks corner drug makers
The Ministry of Health and Welfare confirmed a major shake-up in the pharmaceutical sector on August 12 that will result in average drug price cuts of 17 percent starting in 2012.
Drug makers estimate the measures ...
Drug makers file license modifications of 38 OTC drugs
Following the reclassification of 48 over-the-counter (OTC) medicines in July, which allows them to be sold in supermarkets and convenience stores, the Ministry of Health and Welfare said Monday that pharmaceutical fi...
Leading drugmakers rushing to increase subsidiaries
Korea’s major drug firms have increased their number of affiliates, an expansion that is feared will divert them from their core businesses and weaken their competitiveness.
According to the Ministry of Health and ...
Zuellig Pharma joins forces with Roche Diagnostics Korea
Zuellig Pharma Korea said recently that it has forged an alliance with Roche Diagnostics Korea in an effort to exclusively distribute the latter’s products.
“The deal with Zuellig Pharma Korea is expected to help f...
