Korea ranks low among OECD nations in overall drug spending

Korea ranked low among 30 Organization for Economic Cooperation and Development (OECD) member countries in terms of medication spending, the Korean Pharmaceutical Manufacturers Association said Wednesday.

Citing a report released by Prof. Chung Hyung-sun of Yonsei University, the KPMA said that Korea spent $442 for medication per person on average in 2009, lower than the OECD average of $540...