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50 leading wholesalers vow to clean house
In a ceremony to be held in Seoul on November 24, a total of 50 major wholesalers will declare the launch of a compliance program (CP) for fair trade, according to the Korea Pharmaceutical Wholesaler Association.
T...
Hospital/clinic franchise is booming
Hospital and clinic franchise business will prosper, while a drug store is making transition into a large-scale discount store, according to an official at the Korean Pharmaceutical Association.
In a recent pharmac...
Tozai Holdings to supply PRP kits to Huons
Tozai Holdings, a holding company of Medisarang, announced on November 17 that it has signed an exclusive distribution agreement with Huons to supply 2 billion won worth of PRP (platelet rich plasma) kits for the next...
Ildong wins Korean patents for antihypertensive agents
Ildong Pharm said on November 16 that it acquired from the Korean Intellectual Property Office two patents for candesartan cilexetil and valsartan, respectively, for the treatment of hypertension.
The two patents r...
Rebate ban to roil drug industry
The performance of Korean pharmaceutical companies have been and will be affected by the government’s policy to abandon “rebates” ― a kind of kickback given by drug companies to pharmacies, clinics and hospitals for b...
Wholesalers vow to clean house
Ahead of the enforcement of new regulations to clarify the financial expense (2.8 percent at maximum) to be allowed in drug transaction between pharmacists and wholesalers, wholesalers began to refrain from using reba...
Green Cross Holdings reports record operating profit for 9 months
Samsung Electronics recorded the highest-ever operating profit of 79.2 billion won for the nine months of this year, mostly due to sales increases in its affiliated companies, such as Green Cross Corporation and Green...
Huons revenues increase 15% in third quarter
Huons Co.’s third quarter sales increased by 15 percent, compared to the same period last year, the company said in a regulatory filing on November 15.
With the increase seen in the third quarter of this year from ...
Functional food makers eye herbal food sector
Influenced by overall sluggish sales of functional foods except for red ginseng and natural vitamins, leading functional food manufacturers have focused on the development of herbs based foods.
Earlier this month, ...
Government urged to publicize new DMF system
Starting next January, the Korea Food and Drug Administration has unveiled its plan to implement a new DMF (Drug Master File) system, under which it is necessary for drug manufacturers (or importers) to gain a prior a...
