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S. Korea’s Antibiotic Use down in 2015, Still Highest Among OECD Countries

S. Korea’s Antibiotic Use down in 2015, Still Highest Among OECD Countries

SEOUL, Feb. 20 (Korea Bizwire) – South Korea’s consumption of antibiotics edged down in 2015 but remained the highest among members of the Organization for Economic Cooperation and Development, the health ministry said Monday.  According to the ministry, the country’s antibiotic use was tallied at 31.1 defined daily dose (DDD) per 1,000 people, meaning 31.1 [...]

Annual R&D Spending Tops 100 Bln Won at 4 Korean Drug Firms

Annual R&D Spending Tops 100 Bln Won at 4 Korean Drug Firms

SEOUL, Feb. 14 (Korea Bizwire) – Four major South Korean pharmaceutical companies spent more than 100 billion won (US$86.9 million) each on research and development (R&D) in 2016, industry officials said Tuesday.  The four drug companies — Hanmi Pharmaceutical Co., Green Cross Corp., Daewoong Pharma and Chong Kun Dang Pharmaceutical Corp. — sharply expanded their [...]

Local Pharmaceutical Companies Fall Behind Foreign Rivals

Local Pharmaceutical Companies Fall Behind Foreign Rivals

SEOUL, Jan. 9 (Korea Bizwire) – Only one South Korean pharmaceutical company had a new drug approved in 2016, compared to 11 drugs introduced by overseas companies including Novartis, Gilead Sciences, and Pfizer. Olita Tablet, a lung cancer drug from Hanmi Pharmaceutical, was the only new drug introduced last year by a local company, and [...]

S. Korean Pharmaceutical Goods Draw Popularity in N.K. Farmers’ Markets

S. Korean Pharmaceutical Goods Draw Popularity in N.K. Farmers’ Markets

SEOUL, Dec. 12 (Korea Bizwire) – South Korean-made pharmaceutical products remain widely popular in “Jangmadang,” or North Korea’s unofficial provincial markets, even though the distribution of goods from the South is under strict control in the communist state, a U.S.-based broadcaster said Monday.  A source in the North’s North Hamkyong Province told Radio Free Asia [...]

Drug Companies Make Changes to Hangover Remedies to Gain Customers

Drug Companies Make Changes to Hangover Remedies to Gain Customers

SEOUL, Nov. 30 (Korea Bizwire) – Pharmaceutical companies are diversifying hangover remedies to cater better to customers, especially foreigners, creating new products in different packaging, industry officials said Wednesday.  Handok succeeded in grabbing Chinese customers with its Ready Q Chew, the only jelly-type hangover remedy in the local market, where most of the products are [...]

Pharmaceutical Industry Expanding in South Korea

Pharmaceutical Industry Expanding in South Korea

SEOUL, Nov. 7 (Korea Bizwire) – South Korea’s pharmaceuticals sector is gaining workforce, having added 27 percent more employees since 2011, data showed on Monday.  Figures supplied by the Korea Pharmaceutical Manufacturers Association (KPMA) said 94,500 people were working in 842 companies of the pharmaceuticals industry at the end of 2015, up from 74,000 in [...]

Pharmaceuticals Voluntarily Release Sensitive Information

Pharmaceuticals Voluntarily Release Sensitive Information

SEOUL, Oct. 31 (Korea Bizwire) – Domestic pharmaceutical firms have started to release sensitive information that may play to their disadvantage, mainly in order to eliminate any misunderstanding or speculation by not disclosing information in advance.  The move is also driven by the recent Hanmi Pharmaceutical controversy, in which the company allegedly leaked insider information [...]