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 [...]
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 [...]
SEOUL, Dec. 9 (Korea Bizwire) – Some pharmaceutical companies in South Korea chalked up strong sales in the first nine months of this year on the back of their moneymaking subsidiaries, industry sources said Friday. Consolidated sales of Kwangdong Pharmaceutical Co. are expected to exceed the 1 trillion-won mark this year for the first time [...]
SEOUL, Dec. 6 (Korea Bizwire) – Two major drug firms are competing to become the first South Korean maker of a new homegrown medication with annual sales of more than 50 billion won, a landmark for the local industry, sources said Tuesday. Industry experts define as a blockbuster drug an extremely popular medicine that generates [...]
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 [...]
SEOUL, Nov. 17 (Korea Bizwire) – South Korea’s big three pharmaceutical ranking chart is expected to change this year as sales of Chong Kun Dang Pharmaceutical Corp. in the first three quarters beat those of Hanmi Pharmaceutical Co., the previous No. 3, their regulatory filings showed Thursday. Yuhan Co. held its leading position with 964.4 [...]
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 [...]
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 [...]
SEOUL, Oct. 25 (Korea Bizwire) – Korean pharmaceutical companies are making significant developments in their research of Parkinson’s disease. Parkinson’s is often associated with the elderly, making Korea’s rapidly-aging society more vulnerable to the disease, for which there is no cure. Dong-A ST is set to apply for a phase 2 clinical trial for the [...]
SEOUL, Oct. 17 (Korea Bizwire) – The current news proves that the domestic pharmaceutical industry still places too much emphasis on generics, despite focusing on R&D for new medicine. With the expiration of the patent for Twynsta from the multinational pharmaceutical company Boehringer Ingelheim, close to 100 generics are being released. The industry agrees that [...]