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Domestic drugmakers eye price hike of OTC drugs
Korean companies are considering a price hike of their over-the-counter drugs in order to make up for their margins lost by rising import prices, industry sources said recently.
“The faster rise in import prices is...
Dong-A, GSK expand cooperation
Dong-A Pharmaceutical and GlaxoSmithKline (GSK), the world’s third largest pharmaceutical firm by revenue, have recently agreed to further expand their strategic cooperation as the former is expected to sell GSK’s Pol...
Number of oriental medicines doctors nearly doubled for 10 years
Korea has seen a dramatic rise in the number of oriental medicines doctors over the last decade, according to a report revealed by the Health Insurance Review and Assessment Service.
The report said that the number...
KPMA seeks to scrap cash incentive policy
Eliminating the illegal rebates from the domestic pharmaceutical industry is part of the drug related reforms on the way to reducing drug prices.
The old system offered no incentives for medical institutions to pur...
Three leading drug makers spend 89 billion won on promotion
Details of drug company spending revealed recently show that the combined marketing and hospitality expenditure of the country's top three pharmaceutical companies – Dong-A Pharmaceutical, Green Cross Corp. and Yuhan ...
Assembly passes revision bills on pharmaceutical laws
The National Assembly Tuesday passed bills aimed at overhauling the pharmaceutical affairs system, sending them to a plenary session for final approval.
These bills include the self-disciple rights of pharmaceutica...
Government to slash drug price by 20% in first half
The Ministry of Health and Welfare has recently renewed its strong will to crackdown on unlawful drug marketing activities.
To this end, the ministry said on Wednesday it has a plan to announce a list of drugs to b...
Multinational firms to lead win-win relations with wholesalers
One of the issues for the domestic pharmaceutical industry has been how to chalk up mutual growth at both the country’s foreign-invested pharmaceutical firms and wholesalers.
The problem surfaced as wholesalers hav...
60% of Koreans prefer pharmacists’ recommendation on OTC selection
Almost six out of every 10 Korean people consider pharmacists’ recommendation essential when they buy over-the-counter products, a survey released recently showed.
In the survey by the media research company Nielse...
Korea has more hospitals than OCED average
This country has more hospitals than the Organization for Economic Cooperation and Development (OECD) countries on average, but its hospital staff levels are below the normal rate, raising concerns over the quality of...
