There have been incessant problems arisen from the rapid growth in the number of generic drugs which have different names but the same ingredients. (Image: Korea Bizwire)
SEOUL, July 14 (Korea Bizwire) — Moves are afoot for generic drugs which have different names but are composed of the same ingredients and made by the same manufacturers to be identified at a single glance.
The Ministry of Food and Drug Safety announced on Monday that it will start providing information on such generic drugs on a step-by-step basis from August through its website, aimed at making it easier for the public to identify the differences among generic drugs.
This service would enable users to identify at a single glance the generic drugs that are made by the same manufacturing facilities using the same production processes on the basis of bioequivalence test results.
The ministry expects the new service to help prevent companies from flooding the market with generic drugs, one of chronic problems facing the nation’s pharmaceutical industry.
In reality, there have been incessant problems arisen from the rapid growth in the number of generic drugs which have different names but the same ingredients, thereby leading to the prevalence of rebate practices.
In its bid to address the inefficiencies in the market for generic drugs as well as to strengthen their international competitiveness, the government has formed a public-private consultative body.
To this end, authorities have decided to move forward with plans to publicize the name of the pharmaceutical company which performs the bioequivalence test on generic drugs.
Ashley Song (ashley@koreabizwire.com)
