Pharmaceutical companies stash cash as outlook stays gloomy

Publicly held drug firms in Korea are holding sizable amounts of cash – an indication that they are growing more pessimistic over the outlook for future growth, according to Yakup.com.

Yakup.com said that the cash equivalent assets of 51 listed pharmaceutical companies totaled 846.3 billion won as of the end of June this year.

Yuhan Corp. had cash equivalent assets at 178.5 billion won in...