South Korea pharma news in brief
Kim Ok-Yeon, chairperson of the KRPIA, South Korea’s research-based pharmaceutical industry association, pointed out, regarding to the Pharma 2020 Vision announced by the government in 2012, that local pharmaceutical companies face significant difficulties in procuring competitiveness in overseas markets.
Ms Kim commented that pharmaceutical companies are unable to receive proper prices from the government for even high-quality drugs in the current NHI (National Health Insurance) drug price system. In addition, she added the current NHI system must be resolved as it is obstructing the industry’s expansion overseas and limiting growth.
Local drugmakers spend less than global companies on R&D
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