PhRMA concerns on South Korea-US FTA

While overall welcoming the recent Korea-USA Free Trade Agreement (FTA), the Pharmaceutical Research and Manufacturers of America (PhRMA) says it still has some reservations about the accord.

PhRMA says it recognizes the 60 years of partnership between South Korea and the USA -and the important national security ties that they share, saying that this agreement will play a key role in strengthening the US economy and increasing American jobs and exports.

“PhRMA has long viewed the Korea-US Free Trade Agreement as an important opportunity for Korean patients to access biopharmaceutical medicines produced in the United States. With rising living standards and increasingly sophisticated access to information, Korean patients, like patients everywhere, want access to the most advanced medical treatments,” said PhRMA president and chief executive John Castellani.