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  • Pharma industry on alert over business risks in China
  • by Lee, Seok-Jun | translator Kim, Jung-Ju | May 24, 2023 05:32am
Supply discontinuation, dissolution, suits...
Ahn-Gook Pharmaceutical, Dong Sung Bio Pharm, Korea United Pharm terminates supply contract for drugs in China
Il-Yang Pharmaceutical plans to dissolute its OTC Chinese subsidiary... Medytox in a KRW 118.8 billion suit with its partner
Most caused by ¡®non-fulfillment of the contract by its partner'... Seoul Pharma¡¯s export worth KRW 111.1 billion to China receives attention
Business risks related to China have been rising in Korea¡¯s pharmaceutical industry. There are many causes, including the termination of the contract for supplying medicines (or cosmetics), liquidation of Chinese subsidiaries, and claims for damages, etc. Most of them are due to the failure of their Chinese partners in fulfilling their promises.


On the 22nd, Ahn-Gook Pharmaceutical publicly announced that it had requested the termination of its supply contract to the Chinese company (Sichuan Wanhe Chinese Medicinal Decocting Pieces PLC) it had signed a supply contract with for its ¡®Anycough Cap¡¯.

The original contract term was 10 years from when the company receives the Import Drug License for Anycough Cap.
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