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- 2025-12-26 08:58:12
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- Pfizer Korea suspends distribution of Champix
- by Kim, Jin-Gu Jun 23, 2021 05:54am
- Pic. of Champix Domestic supply of ‘Champix (varenicline),’ a smoking cessation product, has been suspended altogether. Pfizer Korea, which is in charge of supplying the product, explained that this was a preemptive measure made regarding the impurity issue. According to industry sources on the 23rd, Pfizer Korea had sent an official notice to domestic distributors that Champix 0.5mg and 1mg is nearly out of stock. In the notice, Pfizer Korea explained that this was due to a ‘disruption in the global distribution.’ Pfizer Korea’s position is that this is a preemptive measure that was made with regards to the concerns over impurities in the product. The Champix supplied in Korea is manufactured in Belgium, and is different from the products that were recalled by the health authorities in Canada earlier this month. Those were a part of the products manufactures in a Pfizer plant located in Quebec, Canada. The Ministry of Health and Welfare also said that the pharmaceutical products manufactured by the same company as those recalled in Canada are not being distributed in Korea. However, Pfizer Korea explained that this preemptive measure was made in consideration of the potential possibility that the impurities may have arisen in the manufacturing process of the finished product, and that the company will suspend supply of the product while testing for the impurities. The MFDS presumes that the impurity in question, ‘N-nitroso-varenicline’ may have developed by a reaction between varenicline and the nitrite that remained during the manufacturing process of the finished product. An official from Pfizer Korea said, “An investigation is being conducted at the global headquarters level on the detection of impurities," he said. "We plan to temporarily suspend domestic supply until the results of the impurities test is released." He continued, “We will submit related data to MFDS as soon as the results of the impurities investigation are released from our HQ. Pfizer Korea will faithfully follow MFDS instructions.” Korean generic companies plan to first focus on testing for the impurities as requested by MFDS. Because their production scale is not large, the companies believe that separate measures to stop supply will not be necessary. Currently, 34 companies in Korea are approved to manufacture CHampix generics. Among these, 12 companies have generated revenue in the first quarter of this year. Hanmi Pharmaceutical’s ‘Nokotine S,’ recorded 500 million won in quarterly sales, and the other companies have recorded less than 100 million won in the same period. An official from a domestic company that sells a Champix generic said, “We plan to first focus on conducting an independent test for impurities. And we will promptly take necessary measures according to its results.” Another official from a different company said, “We currently only hold a permit for the generic. We have discontinued production and supply of our generic since last year. It seems that some of the products that were previously released are still being distributed., but we do not plan to halt that supply or separately recall the products.” he explained.
- Company
- Patients implore for 1st line reimbursement of Tagrisso
- by Jun 23, 2021 05:54am
- After a series of failures in receiving reimbursement extension for the EGFR targeted therapy ‘Tagrisso’ in the first-line setting of lung cancer, the patients have taken the reimbursement issue into their own hands and implored the government to review its reimbursement again. On the 22nd, the 1,713 lung cancer patients and their families delivered a letter of appeal to the government, the Korean Association for Lung Cancer, and AstraZeneca Korea, expressing their “sincere hope for the first-line reimbursement of Tagrisso.” The letter said, “With Tagrisso’s first-line reimbursement thwarted numerous times during the past 3 years despite the desperate hope of patients and the medical community, patients and families that had to use Tagrisso as first-line treatment have been suffering from the immense financial burden imposed by the high-price of the drug. The Health Insurance Review and Assessment Service’s Cancer Drug Review Committee had turned down the application to extend reimbursement of Tagrisso to the first-line setting of non-small cell lung cancer (NSCLC). Since adding this first-line indication in Korea in December 2018, AstraZeneca Korea had been attempting the reimbursement expansion since 2019 but was unable to pass the threshold of the Cancer Drug Review Committee. The Cancer Drug Review Committee’s had an issue with the sub-analysis results of the global FLAURA trial in Asians, although the drug demonstrated an improvement in overall survival in the total population. On this, AstraZeneca further submitted results from the FLAURA China trial on the Chinese cohort patients, however, the reimbursement was once again turned down in April. Faced with this high barrier, patients and families came forward and organized an online signature-gathering campaign. In only one day, over 1,000 people signed the petition, and in one week, 1,713 people joined the campaign. The patients and families implored, “We don’t need the clinical trial results on Asians that was conducted on Chinese patients. Just the domestic cases are enough to recognize that Tagrisso has the best treatment effect in lung cancer and can even prevent brand metastasis and recurrence. We are deeply hurt that the current government, which promised to improve the medical environment for cancer patients, neglected the promise to ‘actively review reimbursement for first-line treatment with Tagrisso’ that was made at a national audit last year.” They continued, “We earnestly ask that you understand the sincerity of our claim, rather than simply dismissing our request for the first-line reimbursement Tagrisso in lung cancer as a ‘protest.’ We sincerely ask you to reconsider the reimbursement of Tagrisso as first-line treatment in lung cancer,” asking for the prompt reimbursement of Tagrisso. They also asked for the Korean Association for Lung Cancer’s support for this initiative. “Many professors in the field recommend Tagrisso as first-line treatment, however, the members of HIRA’s Cancer Drug Review Committee keep deferring reimbursement claiming that it lacks clinical usefulness.” To AstraZeneca Korea, they said, “We feel hopeless faced with the reality of having to pay over 6 million won every 4 weeks for the treatment,” and asked for the company’s additional and multidimensional effort for approval.
- Company
- Pneumococcal vaccination rate drops due to COVID vaccination
- by Whang, byung-woo Jun 23, 2021 05:54am
- Compared to rate of inoculation in 2020, rate of inoculation decreased significantly in first quarter of 2021. As COVID vaccinations begin in earnest, the inoculation rate of pneumococcal vaccines, which rose sharply last year, is decreasing. In particular, it is difficult for health centers to be in charge of vaccination and the situation of clinics is the same. As a result, related pharmaceutical companies also have a significant impact on sales decline due to a decrease in inoculation rates. According to the KDCA and the pharmaceutical industry on the 17th, the vaccination rate of pneumonia groups, which has steadily increased in recent years, has been falling significantly since the first quarter of this year. In fact, looking at the NIP (National Immunization Program) computer registration status announced by The KDCA over the past three years, NIP pneumococcal vaccinations for senior citizens aged 65 or older have risen every year to ▲283,687 in 2018, ▲580,793 in 2019, ▲839,461 in 2020. As of the first quarter of last year, the number of vaccinations decreased by nearly half from 145,796 in 2019 to 74,285 in 2020, but the inoculation rate also increased significantly as pneumococcal vaccinations were available at outside health centers from the second quarter. In particular, concerns about pneumonia, a major complication of COVID-19 infection, spread ahead of the flu epidemic, with a total inoculation rate of 414,596 cases in the third quarter alone, higher than the overall inoculation rate in 2018. However, this year, the rate of vaccination in the first quarter is again lower than previous years due to COVID-19 vaccination. The number of pneumococcal vaccinations in the first quarter of this year was 112,860, down from 145,796 in the first quarter of 2019, before COVID-19 outbreak. This is not NIP, but it was also confirmed by sales of 13 pneumococcal vaccines. According to the drug research firm IQVIA, Pfizer's pneumococcal vaccine Prevenar 13's sales in the first quarter of this year were ₩9.4 billion, down 46.7% from ₩17.6 billion in the first quarter of last year. Compared to the third quarter and ₩24.2 billion, which recorded the highest sales last year, sales declined by nearly 60%, and overall pneumococcal vaccinations decreased regardless of NIP. "The vaccination rate for pneumococcal vaccines has decreased a lot compared to previous years," said physician at a clinic. "We believe that the inoculation rate has decreased because the number of patients visiting the hospital is small and patients are not considered a priority." "There are also cases where patients who are vaccinated against corona do not think they need to get a pneumococcal vaccine," he said. "I'm not sure if we can increase the vaccination rate under the current situation." Prevenar 13's sales were ₩81.3 billion over the year. As it recorded 64.8% growth compared to 2019, its current low sales performance in first quarter could lead to reverse growth in 2021. "For pharmaceutical companies that have consistently emphasized the need for pneumococcal vaccinations, the decrease in inoculation rate is of course very upsetting," a pharmaceutical industry official said. "In particular, sales fell nearly half as of the same quarter last year." In this regard, experts stressed the need to share COVID-19 vaccination and pneumococcal vaccination separately from the concerns of pharmaceutical companies. "The basic principle is that vaccination of COVID-19 vaccines should not destroy the existing vaccination system. "I agree with the need for pneumococcal vaccinations, but the rate may rise as last year," said an official from the Korean association of internal medicine. "Pneumonia is one of the major causes of death, so the government needs to vaccinate and make efforts."
- Company
- Zolgensma applies for reimbursement... ignites discussion
- by Eo, Yun-Ho Jun 22, 2021 05:50am
- Another ultra-high priced ‘one-shot’ treatment has begun it process to be listed for reimbursement. Novartis, the developer of another one-shot treatment ‘Kyrmriah,' has announced its plans to list and release ‘Zolgensma’ in Korea. According to industry sources, Novartis has recently submitted an application for the reimbursement of Zolgensma (onasemnogene abeparvovec-xioi) through the approval-benefit appraisal linkage system. The company had first aimed at an earlier discussion of Zolgensma's reimbursement, but as the safety and efficacy review was completed later than expected, the listing process for the drug had started after the official approval. Zolgensma, which is a treatment for Spinal Muscular Atrophy (SMA) like ‘Spinraza (nusinersen)’ which was approved in 2017, is a gene therapy that contains genetic material that functionally replaces defective genes. The Ministry of Health and Welfare had approved Zolgensma as the second advanced biopharmaceutical after Kymriah. Advanced biopharmaceuticals are cell therapies or gene therapies that use live cells, tissues, or genetic material as ingredients. Under the ‘Safety and Support Act for Advanced Regenerative Medicine and Advanced Biopharmaceuticals,’ companies can receive differentiated safety management including long-term follow-up studies as well as support for R&D and product commercialization for their advanced biopharmaceuticals. Despite being a one-shot treatment, the price of the single shot costs 2.5 billion won in the U.S. and 1.89 billion won in Japan. Due to its high price, the listing process for Zolgensma in Korea is also expected to be unsmooth. However, the expectations regarding its efficacy are very high. Results of the Phase III SPR1NT and STR1VE-EU studies for Zolgensma that were presented recently recieved much attention. In the SPR1NT study, all pediatric SMA patients with two SMN Type 2 gene copy (Cohort 1) that were treated presymptomatically survived without requiring ventilatory or nutritional assistance, and achieved sitting independently for 30 seconds or more. Most (11/14) patients achieved age-appropriate motor milestones within the World Health Organization (WHO) window of normal development. In the STR1VE-EU study, most pediatric patients (82%) that were treated with Zolgensma, including those with severe SMA, achieved motor milestones unseen in the natural history of SMA Type 1. Zolgensma is indicated in Korea for the treatment of pediatric patients with spinal muscular atrophy (SMA) with bi-allelic mutations in the survival motor neuron 1 (SMN1) who ▲ have been clinically diagnosed with SMA Type 1; or ▲ has up to 3 copies of the SMN2 gene.
- Company
- PD-1 inhibitors enhance future value of anticancer treatment
- by Jun 22, 2021 05:50am
- Professor Eui-Cheol ShinSince its first appearance in 2011, cancer immunotherapies have opened a new paradigm in the field of cancer treatment. Moving on from the era of targeted therapies that target specific gene mutation, the new era had opened where a patient’s immune system is activated to remove the malignant tumor. The immunotherapies that have been commercialized until now, such as Opdivo, Yervoy, and Keytruda, are all immune checkpoint inhibitors that target immunomodulators such as CTLA-4 or PD-(L)1. Immunologists Professor James P. Allison and Professor Tasuku Honjo were jointly awarded the Nobel Prize in Physiology or Medicine in 2018 for their discovery of this mechanism. In the wide and complex field of immunity, much is still left to be identified and remains uncharted territory. This is why cancer immunotherapies work according to theory in 30% of the patients, but not as expected in the other patients. To increase the response rate, pharmaceutical companies have been attempting to combine their immunotherapy with other immunotherapies that have different MOAs, or with existing targeted therapies or chemotherapies. Finding a good biomarker to predict the response rate also remains an important task. So how do immunologists view the present and future of cancer immunotherapies? Eui-Cheol Shin, Professor of Graduate School of Medical Science and Engineering at Korea Advanced Institute of Science and Technology (KAIST), said, “PD-1/PD-L1 inhibitors will be essential in all combination therapies that will be established for cancer treatment in the future. The PD-(L)1 and CTLA-4 immune checkpoint inhibitors can also be used in combination to complement the shortcomings of each other.” Professor Shin also added that treatment methods will be established for each cancer type and stage using viable biomarkers and that personalized cancer vaccines may become the next-generation anticancer therapy. The following is the question and answers from an interview with Professor Shin. -The paradigm that was dominated by targeted cancer therapies had shifted with the introduction of cancer immunotherapies. How is immunotherapy different from targeted anticancer drugs in terms of its mechanism of action? =The main difference between cancer immunotherapy drugs and targeted cancer therapies is in the durability of response. Strictly speaking, it is different, but a cancer immunotherapy drug is similar to a vaccine. Both use immunological memory to fight diseases. Just as people can live without concern of a certain disease after vaccination as many vaccines have a lifelong effect, treatment with immunotherapy will allow the immunologic memory to remove cancer even after it starts spreading again. The effect of the drug can last for the rest of the patient's life, even after discontinuing administration of the immunotherapy drug. -The cancer immunotherapies that have been released until now are PD-1/PD-L1 and CTLA-4 inhibitors. I know research is being conducted for new markers, how much progress has been made in this regard? =No one knows how many undiscovered mechanisms remain in the field of cancer immunotherapy. So, it is difficult to say how much progress has been made. Also, how many mechanisms were discovered is not important. Although CTLA-4 inhibitors and various PD-1/PD-L1 inhibitors have been introduced to the market, research results have reported that they work differently from the originally expected principle of action. This means that you do not need to know all the mechanisms to develop a drug. In some cases, the mechanism that you thought you knew well cannot be developed into a drug, and in other cases, you luckily find a drug another way. Research is of course conducted with sufficient theoretical grounds, but even with a solid theoretical base, clinical success cannot be guaranteed 100%. -Is there a reason why many of the developed drugs are PD-1/PD-L1 inhibitors? =In my research, I found PD-1 was the best anticancer immunotherapy target that can be modulated in the process of fighting cancer. Of course, the effect may be different for each cancer type and patient, but as PD-1 has a good effect and has the least side effects, much study has been focused on PD-1. Even in 50 years when cancer immunotherapies that target various other mechanisms are introduced in the market, I (strongly) believe PD-1 and PD-L1 inhibitors will hold their ground as a basic cancer immunotherapy drug. -Studies of combination therapies are also being conducted actively to enhance the effect of cancer immunotherapies. Some studies have been investigating the use of two immunotherapies. Mechanism-wise, is it effective to combine the use of a PD-1 inhibitor and a CTLA-4 inhibitor? =Well, the two are the only immune checkpoint inhibitors that were formally approved as of now, and using the two in combination does have a better effect. Separately, CTLA-4 inhibitors were introduced before PD-(L)1 inhibitor, but have relatively more side effects than the latter. In this sense, response in using the two drugs with the different MOAs has been unexpectedly good in general. It is rare, but using PD-(L)1 inhibitors may trigger hyperprogression of cancer in the treated patient. However, fundamental research findings have shown that hyperprogression may not show up when a CTLA-4 inhibitor is used in combination with a PD-(L)1 inhibitor. Much still needs to be verified, but I believe the immunotherapies may be able to complement each other’s shortcomings. -Patients may develop resistance to cancer immunotherapies as well. What alternatives could the patients use? =One of the reasons for ‘secondary resistance’ is mutation. The body needs to perceive the tumor as a foreign cell, however, the tumor antigen mutates and develops resistance. Cancer cells mutate just as well as viruses. Although it has not been commercialized yet, I expect ‘personalized cancer vaccines’ fit for each patient to become the next-generation anticancer therapy that would address the issue of resistance. These ‘cancer vaccines’ would be different from conventional vaccines that are administered in a healthy state, these are therapeutic vaccines that will prevent growth or recurrence of cancer in patients who have undergone surgeries for cancer removal. In other words, a vaccine that is made based on the changes identified in the mutated cancer cell of each patient to contain new antigens will allow patients to overcome resistance in the future. Of course, these cancer vaccines would also need to be used in combination with PD-1 inhibitors. As such, PD-1 is and will continue to be essential in the field of cancer immunotherapies.
- Company
- Gifticon to MDs attending online sessions might be illegal
- by Kim, Jin-Gu Jun 22, 2021 05:50am
- It has been interpreted that it is illegal to provide economic benefits, including gifticon, to doctors who participated in the online product briefing session, which has recently emerged as a major marketing tool for pharmaceutical companies. Park Sung-min, a lawyer at the HnL Legal OfficePark Sung-min, a lawyer at the HnL Law Office, made the explanation through a presentation on "legal issues on digital marketing" at the KFDC Legal Society's Spring Conference held online on the 18th. According to him, digital marketing has emerged as a major marketing tool in the pharmaceutical industry since the Corona crisis. However, almost all economic benefits related to digital marketing are highly likely to be illegal for the reasons for the lack of relevant regulations. In the case of online product briefing sessions, it is highly likely to be illegal to provide food and beverage to participating doctors. The same is true for posting comments, giving points to doctors who participated in surveys and events, and allowing them to purchase goods. Lawyer Park Sung-min said, "If the law is interpreted strictly, it is likely to be judged as a violation under the current law." In the case of exceptionally allowing economic benefits to doctors, "a salesperson may visit individual medical institutions and provide food and beverage not exceeding ₩100,000 once a day. However, economic benefits of the online product briefing session should not be provided because salespeople did not visit it in person. The same is true of doctors from various medical institutions who participated in online product briefing sessions. This is because it is difficult to apply the concept of "place" legally, although the regulation "if a salesperson visits" is not specified at this time. "This is what the KPBMA stated in the guidebook."There has been no judgment by the prosecution and the court regarding this matter. However, since the KPBMA was consulted by two law firms, there is a high possibility of illegality at the moment." However, he pointed out that the current situation is "because there are no related regulations." "The current regulations that allow doctors to provide exceptional economic benefits were made in an era when digital marketing was not active," he said. "Since Corona, digital marketing has emerged as a new means, we need to come up with relevant regulations." He cited the "detailed standards for supporting online academic conferences" temporarily prepared by the MOHW. "The MOHW's creation of the rule greatly reduced the scope of violations by pharmaceutical companies and doctors, at least in connection with online academic conferences," he said. "In addition, regulations on overall online marketing will reduce confusion in the field." "There are no rules at the moment," he said. "If the current situation continues, there is a high possibility of many violations.The government and the KPBMA should come forward to make very specific and explicit rules. Only then can we do fair marketing in a changed world."
- Company
- Competition between PCSK9 Inhibitors has just begun
- by Eo, Yun-Ho Jun 21, 2021 05:51am
- The competition for prescription of PCSK 9 inhibitors began more than four years after the domestic approval. Sanofi-Aventis' Allepatadine (Olopatadine) was listed on the 7th. It was approved in January 2017. This was the first time in South Korea that PCSK's 9th suppression system was introduced. Later in April of the same year, Amgen's Repatha (Evolocumab) was approved, with a stronger willingness to register benefits. Repatha was first registered as Homozygous Family Hypercholesterolmia (HOFH) in August 2018. Although there were two drugs in PCSK 9 inhibitors, Repatha was the only option. PCSK 9 inhibitors are drugs that have excellent efficacy but had price issues. There were problems not only at home but also at a global level, and Amgen lowered the price of drugs held by 60% in October 2018 and Sanofi in February 2019. Sanofi voluntarily withdrew Praluent's application for registration in October 2018, before the drug price was lowered, and it was registered about two years later. PCSK.9 inhibitors had a wide range of requirements for HOFH and in January 2020, Repatha succeeded in extending the reimbursement standard to patients with atherosclerotic cardiovascular disease (ASCVD) high risk, Heterozygous Family (HeFH), and Statinability. The two drugs are believed to compete in the ASCVD and HeFH. Praluent added HoFH in the United States in April. Praluent has tended to reduce the risk of all-cause death, and is a licensed drug with Praluent 75 mg and Praluent 150 mg, allowing patient-specific dose selection with reference to patient status and LDL-C levels. Repatha, which is first listed, is already prescribed by medical institutions. It can be prescribed at major medical institutions across the country, including the Big 5 general hospitals, including Samsung Medical Center l, Seoul St. Mary's Hospital, AMC, and Sinchon Severance Hospital.
- Company
- JAK inhibitor ‘Olumiant’ seeks reimb for atopic dermatitis
- by Eo, Yun-Ho Jun 18, 2021 05:54am
- The JAK inhibitor ‘Olumiant’ is seeking extended reimbursement benefit in atopic dermatitis. According to industry sources, Lilly Korea has submitted an application for the reimbursement of Olumiant (baricitinib) in ‘the treatment of adult patients with moderate to severe atopic dermatitis who are candidates for systemic therapy’. The company had rapidly carried out the listing application process after receiving approval for this additional indication last month. As a new drug for moderate to severe atopic dermatitis, Olumiant’s reimbursed price is expected to be set at a more economic price than recently listed new treatment for atopic dermatitis, ‘Dupixent (dupilumab).’ Olumiant selectively and reversibly inhibits JAK1 and JAK2 to reduce the expression of inflammatory cytokines and has an anti-inflammatory effect. Olumiant demonstrated significant treatment effect as well as safety as monotherapy and as combination therapy with a topical corticosteroid (TCS) in adult patients with moderate to severe atopic dermatitis compared to placebo in 3 clinical trials - BREEZE-AD1, BREEZE-AD2, and BREEZE-AD7. In the three studies, patients treated with Olumiant showed an improvement in their symptoms such as itching, which severely deteriorates the patients' overall health state and quality of life, as early as in the second day of treatment. Dr. Chang-Wook Park, Professor of Dermatology at the Severance Hospital said, “The rapid improvement of symptoms that were observed from the second day of Olumiant treatment in the patient-reported outcome gives hope to atopic dermatitis patients in Korea who previously had limited treatment options.” Park added, “With its strengths in rapidly improving itch symptoms, convenient oral administration that improves patient compliance, and long-term safety profile that has been confirmed as a rheumatoid arthritis treatment, I expect Olumiant will be able to address patients' unmet needs in the field of atopic dermatitis.”
- Company
- Cancer immunotherapy combo seeks 1st-line reimbursement
- by Eo, Yun-Ho Jun 17, 2021 06:04am
- Activity to reimburse ‘Opdivo’ has begun again after a long standstill. According to industry sources, Ono and BMS recently submitted an application to extend reimbursement for the PD-1 inhibitor ‘Opdivo (nivolumab)’ in combination with the CTLA-4 inhibitor ‘Yervoy (ipilimumab)’ to first-line treatment of non-small cell lung cancer (NSCLC). This is the first time in a long while that a discussion for listing Opdivo is being resumed in the field of lung cancer since Opdivo’s reimbursement attempt to receive reimbursement ‘as monotherapy for second-and third-line treatment of lung cancer regardless of PD-L1 expression’ was turned down by the authorities in 2019. The Opdivo and Yervoy combination has initially been approved in Korea for the renal cell carcinoma indication, and its listing process is currently underway. As with MSD’s ‘Keytruda (pembrolizumab),' Ono and BMS had discontinued the reimbursement extension discussions as they were unable to accept the condition set by the government requesting the company to ‘cover the initial 3 cycles’ worth of administration cost.' Whether Opdivo will be able to be listed for reimbursement with the new ‘cancer immunotherapy combination' card is receiving attention. Also, with the PD-L1 inhibitor ‘Tecentriq (atezolizumab)’ and Keytruda’s reimbursement as first-line treatment for lung cancer expected to be discussed in July at HIRA’s Review Committee for Cancer Diseases meeting, whether Opdivo will also be put as an agenda for deliberation then remains to be seen. Opdivo in NSCLC was approved in Korea ▲ as first-line treatment of advanced or recurrent NSCLC with no EGFR or ALK genomic tumor aberrations, in combination with Yervoy and 2 cycles of platinum-based chemotherapy; and ▲as first-line treatment of metastatic or recurrent NSCLC expressing PD-L1 (≥1%) with no EGFR or ALK genomic tumor aberrations, in combination with Yervoy. Opdivo’s efficacy in lung cancer was confirmed through the two Phase III trials, CheckMate-227 and CheckMate-9LA. Dr. Dae-ho Lee, Professor of Oncology at the Asan Medical Center, said, “The newly approved combination therapies that use Opdivo have clinical significance not only because it raises the treatment response rate and improves the period of survival in NSCLC patients, but because it also provides more treatment strategy options to first-line NSCLC patients. However, one thing left to be desired is that we lack discovery of appropriate biomarkers that can guide us through the various treatment strategies." he said.
- Company
- Drug exports in May amounted to ₩650 billion
- by Kim, Jin-Gu Jun 17, 2021 06:04am
- Korea's drug exports reached ₩650 billion in May. Exports are still export boom following last year. However, as imports increased, the trade balance posted in deficit for the second straight month from April. Monthly drug exports for the last two years (unit: $1 million, data: Korea Custom Service) By country, drug exports to Germany surpassed ₩1 trillion in five months. Pharmaceutical exports to Germany exceeded ₩2 trillion last year, reaching an all-time high, and exports are increasing more steeply this year. According to the Korea Customs Service on the 15th, Korea exported $585.07 million (about ₩650 billion) in May. Compared to $588.43 million in May last year, there is little difference. Last year's exports of medicines were the highest ever. The export boom continues until May. Monthly exports of medicines include $696.56 million in January, $714.57 million in February, $816.6 million in March, $468.19 million in April and $585.57 million in May. Drug imports include $634.76 million in January, $519.61 million in February, $727.51 million in March, 652.37 million dollars in April, and 689.42 million dollars in May. Compared to January-May of last year, it increased by 6%. Exports are similar to the previous year, and as imports increase, the drug trade balance has been in deficit since April. Korea's drug trade balance hit surplus for five consecutive months from November last year to March this year. However, it was $184.18 million in April and $14.35 million in May, respectively. By May, Germany had the largest cumulative export volume of $1210.77 million. Germany has become the largest exporter of medicines since 2019. In particular, exports increased even more this year. The figure has more than doubled from $553.39 million during the same period last year. From January to May, exports of medicines to Japan ranked second with US$197.24 million. It increased 40% from $141.04 million (₩160 billion) in exports from January to May last year. Exports to Netherlands also increased significantly. It was only $42.81 million (about ₩50 billion) until May last year, but it more than quadrupled to $189 million (about ₩210 billion) this year. Exports to the United States declined significantly. By May, exports to the U.S. amounted to $163.75 million (about ₩180 billion), down by half from $331.17 million (about ₩370 billion) during the same period last year. By 2018, Korea had been the largest exporter of medicines to the United States.
