Government should strengthen local pharmaceutical industry's competitiveness, KPMA says

The domestic market will suffer damage of 10-12 trillion won for the next five to seven years due to extension of patent period for new drugs in an era of the Korea-U.S. FTA and the government's weakened drug-pricing policy, said Moon Kyung-tae, vice chairman of the Korea Pharmaceutical Manufacturers Association.

In a recent policy-making forum, he said that the Korean government should have...