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Glass Bottles Persist in Pharmaceutical Packaging, Despite Fragility Concerns

SEOUL, Sept. 30 (Korea Bizwire) – In the pharmaceutical industry, glass bottles continue to play a significant role in packaging both over-the-counter and prescription medications, despite ongoing challenges with breakage and contamination risks. While glass containers are prized for their ability to preserve drug integrity, their fragility has prompted pharmaceutical companies to seek alternative solutions, including [...]

South Korean Pharmaceutical Companies Step Up to Combat Low Birth Rate Crisis

SEOUL, Jul. 25 (Korea Bizwire) – As South Korea grapples with its alarmingly low birth rate, the pharmaceutical and biotech industries are joining the effort to address this pressing social issue. Companies are expanding childbirth subsidies and implementing support measures for couples struggling with infertility, all in a bid to encourage employees to have children. According [...]

South Korean Pharma Companies Forge Partnerships for New Drug Development

SEOUL, Jun. 6 (Korea Bizwire) –Domestic pharmaceutical firms in South Korea are increasingly joining forces with former competitors to develop new drugs, marking a shift in strategy. While co-marketing existing products or outsourcing manufacturing has been common practice, collaborations now extend to the realm of novel drug development. Last month, Ildong Pharmaceutical secured Dong-A Socio [...]

Drugmakers Seek New Therapeutic Indications to Extend Product Life Cycles

SEOUL, Jun. 4 (Korea Bizwire) – Pharmaceutical and biotechnology companies at home and abroad are striving to recreate the value of their products by expanding the therapeutic areas they can be used for, known as new indications. In March, the U.S. Food and Drug Administration approved the obesity drug Wegovy, made by the Danish company Novo [...]

As Pet Ownership Soars, Pharmaceutical Companies Tap New Market

SEOUL, May 16 (Korea Bizwire) – With the ranks of pet owners swelling in South Korea, pharmaceutical companies are increasingly turning to this burgeoning market as a new frontier for growth, rolling out a diverse array of products ranging from medications to health supplements for furry companions. According to industry sources on May 14, Dong-A Pharmaceutical [...]

Government to Unveil Financial Ties Between Doctors and Pharma, Amid Privacy Concerns

SEOUL, Mar. 15 (Korea Bizwire) – The South Korean government is gearing up to disclose a report by year-end that will reveal the financial benefits received by doctors from pharmaceutical companies, sparking a debate on whether to include identifiable information such as names in the report. According to a statement from the Ministry of Health and [...]

South Korean Pharmaceutical Companies Eye ‘Medifood’ as a New Growth Engine Amid Aging Society

SEOUL, Jan. 15 (Korea Bizwire) — As South Korea grapples with an aging population, pharmaceutical companies are increasingly looking at ‘medifood’ as a potential new growth area. Medifood, also known as ‘food for special medical purposes,’ includes beverages and meals specially designed for the elderly or others who require particular nutritional care due to health reasons. On [...]

Korean Drug Firms Double Down on ESG Management

SEOUL, July 11 (Korea Bizwire) — South Korean drug companies and biotech firms are stepping up to advance environmental, social, and governance (ESG) management following the coronavirus pandemic and concerns over global warming. SK Bioscience Co. said in its ESG report published last month for the first time since its establishment that it had generated [...]

S. Korean Conglomerates Step into Pharmaceutical, Biomedical Industries

SEOUL, April 1 (Korea Bizwire) — South Korea’s major conglomerates are launching ventures in the pharmaceutical and biomedical industries, following the success of Samsung Biologics Co., the biotech arm of Samsung Group and SK Bioscience Co., a vaccine unit of SK Group. Lotte Corp., the holding company of retail giant Lotte Group, decided to establish [...]

Illegal Ads for Pharmaceutical Sales via Internet Increasingly Rampant

SEOUL, Oct. 1 (Korea Bizwire) — Online ads for unauthorized pharmaceutical sales over the internet have increased substantially in recent years, according to a lawmaker Thursday. The number of reported cases of illegal online ads for prescription drugs reached 37,343 as of 2019, up 49.8 percent from 2016, Rep. Ko Young-in of the ruling Democratic [...]