Government to select 56 innovative drugmakers

The Ministry of Health and Welfare on Sunday announced it plans to enact a bill to legislate the government’s plan to designate “innovative pharmaceutical firms” that post more than 100 billion won in sales and invest at least 5 percent of their revenue in research and development or those that record less than 100 billion won in sales but spend more than 7 percent on R&D.

To this end, the m...