medicine Archives | Be Korea-savvy
Major Pharmaceuticals to Expand R&D Spending in 2017

Major Pharmaceuticals to Expand R&D Spending in 2017

SEOUL, March 21 (Korea Bizwire) – Major South Korean pharmaceutical companies are poised to expand their spending on research and development (R&D) this year despite weak earnings, industry sources said Tuesday.  The four drug companies — Hanmi Pharmaceutical Co., Green Cross Corp., Daewoong Pharma and Chong Kun Dang Pharmaceutical Corp. — whose annual R&D spending [...]

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 [...]

Doctors, Pharmacists Debate “Brand Name or Drug Composition” Prescriptions

Doctors, Pharmacists Debate “Brand Name or Drug Composition” Prescriptions

SEOUL, Dec. 27 (Korea Bizwire) – Korean doctors and pharmacists have long clashed over whether to prescribe medicine based on the name of a brand or a drug’s composition. The debate dates back to 2000, when the Korean government first separated the prescription and dispensing of drugs between the two medical practitioners.  Currently, prescriptions almost [...]

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 [...]

Health Care Exports to Reach US$10 Bln This Year

Health Care Exports to Reach US$10 Bln This Year

SEOUL, Dec. 8 (Korea Bizwire) – Annual exports from South Korea’s health care businesses are forecast to reach US$10 billion in 2016, the Ministry of Health and Welfare said Thursday.  Outbound shipments of locally manufactured medicines, medical equipment and cosmetics products are expected to total $9.8 billion by the end of this year, up 19.1 [...]