- Policy
- Strong sanctions, to expel drugs through re-evaluation
- by Lee, Hye-Kyung Apr 17, 2020 06:22am
- It was suggested that strong sanctions to ban prescriptions as a way to expel drugs that have not been proven safe and effective through re-evaluation of benefits. It is necessary to take effective administrative measures beyond the preparation of a plan for drug withdrawal by the Minister of Health and Welfare, based on the National Health I
- Company
- Twice-delayed amid COVID-19 Cancer Committee rescheduled
- by Eo, Yun-Ho Apr 17, 2020 06:22am
- The Cancer Deliberation Committee’s meeting, postponed twice already, has been rescheduled. The Korean pharmaceutical industry sources reported the Health Insurance Review and Assessment Service (HIRA) has decided to resume the Cancer Deliberation Committee’s talks on expanding anticancer treatment coverage on Apr. 29. Amid COVID-1
- Company
- Merck's retirement allowance of ￦9.3 billion last year
- by An, Kyung-Jin Apr 17, 2020 06:21am
- Merck KGaA spent nearly 10 billion won last year as employee severance pay. With the sale of two types of hypertension and diabetes treatments, retirement payments related to restructuring jumped four times from the previous year. According to Merck KGaA's audit report submitted to the Financial Supervisory Service on the 14th, last year,
- Policy
- Domestic vaccine for COVID-19 developed within 2 years
- by Kim, Jung-Ju Apr 17, 2020 06:21am
- The government will immediately implement measures to support for the development of COVID-19 treatment and vaccines. The goal is to release antibody drugs as early as next year, blood plasma treatment within 2-3 months, and vaccines within 2 years. Tae-ho Yoon, the head of the quarantine, the Central Emergency Government Headquarters o
- Company
- Multinational companies show significant gap in performance
- by An, Kyung-Jin Apr 17, 2020 06:21am
- Multinational pharmaceutical companies in Korea showed drastically polarized performance last year. Their revenue fluctuated depending on how well the emerging driving forces took over the position of now-off-patent blockbuster drugs. Most of the companies had a drop in operating profit, but companies like Alcon, AbbVie and Sanofi-Aventis have s
- Company
- KRPIA and members clash over Sean Kim’s resignation
- by Eo, Yun-Ho Apr 16, 2020 06:36am
- Apparently, the multinational pharmaceutical companies in Korea have disputed KRPIA’s approval on the resignation of Senior Director Sean Kim. The pharmaceutical industry sources reported Sean Kim, a Senior Director of Market Access and Healthcare Policy at Korean Research-based Pharmaceutical Industry Association (KRPIA), has expressed
- Opinion
- [Reporter’s eye] Measures about NDMA should be careful
- by Lee, Tak-Sun Apr 16, 2020 06:34am
- Measures are imminent when the MFDS begins testing by collecting finished products of Metformin, which are used as diabetes treatments. In last December, an excess of NDMA (N-nitrosodimethylamine), a carcinogen, was detected in Metformin preparations in Singapore. Since then, the MFDS has been conducting extensive investigations. After col
- Company
- KRW 2 trillion worth damage by COVID-19 to hit drug industry
- by Nho, Byung Chul Apr 16, 2020 06:33am
- Impacted by COVID-19 outbreak, Korean pharmaceutical industry requested the government for an emergency initiative like new pharmaceutical regulatory policy to avoid a total dissolution of the Korean pharmaceutical and bio industry. The industry has requested the government to halt the new pharmaceutical regulatory policy but to reinforc
- Company
- Janssen's Vaccines has no annual sales in 10 years
- by An, Kyung-Jin Apr 16, 2020 06:33am
- Janssen Vaccines, which once generated annual sales of ￦300 billion through vaccine manufacturing and sales, recorded zero in sales last year. As demand for representative products, which were responsible for the company's sales, fell sharply, sales activities were virtually suspended. After the withdrawal of the Hyangnam factory in 2021,
- Company
- Drug companies and distributors conflicted over margin
- by Jung, Hye-Jin Apr 16, 2020 06:32am
- As more and more pharmaceutical companies are lowering distribution margin to save cost, a conflict between pharmaceutical companies and distributors is left unresolved. Although the two parties are continuing to negotiate on appropriate distribution margin, they end up only confirming their unyielding stances. Recently, a number of Korea
