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- 2026-05-19 13:31:56
- Policy
- NHIS and choline alfoscerate makers fail to reach agreement
- by Kim, Jung-Ju Apr 14, 2021 06:06am
- Negotiations on the retrieval of health insurance benefits paid for 60 choline alfoscerate products have all fell through despite the series of extensions made on its negotiation period. The key cause of the negotiation breakddown was that the payer, National Health Insurance Service (NHIS), and the pharmaceutical companies were unable to reach an agreement on the collection rate. As a result, the government is now at a crossroads. It may either order deletion of the 60 products from the benefits list or order renegotiations. According to industry officials on the 12th, NHIS reported to the Ministry of Health and Welfare that the negotiation between NHIS and relevant pharmaceutical companies on the retrieval of insurance benefits paid for the 60 drug products ended in a breakdown, The three main items for negotiation were: ▲recollection amount ▲recollection period ▲recollection rate. NHIS and the companies had reached some level of consensus on the first two items, as they agreed to cover the claims including the patient's copayment amount and to pay back the benefits received in the clinical re-evaluation period. Therefore, the key issue that could make or break the negotiation was the recollection rate. NHIS had originally set the rate at 100%. However, to close the gap in the negotiation process, NHIS had reduced the rate by half to 50% as an acceptable rate. However, the rate proposed by companies was around 10%, in the 6%-10% range. As the gap between the two rates was too large to close in the limited time period, the industry predominantly expected the negotiation to fall through. It is now up to the government to make the final decision. The government, which has extended the negotiation period and awaited its results, may now decide to the products from the benefits list or order renegotiations. At this point, the only hope left for the companies is to count on the renegotiation order that is generally made by the government for negotiations on drug prices.
- Policy
- MFDS to support domestic vaccine for COVID-19
- by Lee, Tak-Sun Apr 14, 2021 06:06am
- The MFDS has announced that it will establish a new indicator that eases the phase 3 clinical criteria for the existing COVID-19. Through this, the plan is to support the rapid commercialization of domestically developed vaccines. Director Kang-rip Kim made such a statement at a briefing at the special quarantine inspection meeting in response to COVID-19 on the 12th. Director Kim said, "We will promote the rapid establishment of immune surrogate indicators that enable clinical trials at low cost and with a smaller number of subjects compared to the existing phase 3 clinical trials," and "guide for vaccine development using immune surrogate indicators. We will cooperate with international organizations such as WHO as well as presenting the line in detail and securing basic data by analyzing the immunogenicity of the vaccinated person." In addition, he added, "We will also promote technical support for production and quality control, such as establishing production technology and test methods for each platform of vaccine for most domestic vaccine developers without mass production experience." Phase 3 clinical trials of COVID-19 vaccine are administered together with placebo to compare the number of confirmed cases, which requires tens of thousands of subjects, which is expensive and time consuming, and the speed varies depending on the environment of COVID-19 occurrence. Accordingly, the industry is demanding the establishment of an immune proxy to replace this, which is being reviewed positively by the MFDS. The MFDS is also planning to expand the scope of clinical trials for Regkirona, a domestic antibody treatment. "The domestic antibody therapy Regkirona is limited to the use of the elderly, cardiovascular, respiratory, diabetes, and hypertensive patients due to the lack of clinical evidence due to short-term development." "We will support the expansion to patients with reduced immunity and obesity such as heart disease and cancer." He emphasized, "If we approve treatment purposes for emergency patients, we will support timely treatment of corona patients, such as shortening administrative procedures." Lastly, the MFDS promised to support the rapid introduction of self-test kits. Therefore, it is an explanation that we will cooperate with related ministries to shorten the development period, which normally takes 8 months, to less than two months.
- Company
- Geo-Young is interested in distributing botulinum products
- by Nho, Byung Chul Apr 14, 2021 06:06am
- Geo-Young and Zuellig entered the competition for the storage and distribution of Xeomin of Multz, Germany, which is the best importer of botulinum toxin products. According to the pharmaceutical industry on the 9th, Multz is conducting a competitive bidding ahead of the expiration of the contract with Zuellig, an existing Xeomin storage and distribution company, in December of this year. Xeomin's bidding is highly likely to serve as a business expansion for Geo-Young and Zuellig. Zuellig has been in charge of botulinum toxin formulations, a multinational pharmaceutical company. Geo-Young also has experience in supplying small quantities of botulinum toxins to general hospitals, but the maintenance of various systems according to the expansion of the nationwide network is a task that cannot be overlooked. This is the reason Geo-Young is making great efforts in this bid because it is highly likely to have a significant impact on the expansion of distribution rights for vaccines and biological products, including other botulinum toxin products, depending on how high the rating is received in the construction of the Xeomin storage and delivery system. An industry insider said, "Zuellig has an edge in terms of botulinum toxin distribution know-how, experience and network. However, Multz has the potential to give additional points to Geo-Young, which has a lower distribution cost compared to competitors." The storage temperature of the botulinum toxin formulation is between 2 and 8 °C, so it is important to secure a cold chain from manufacturing to distribution warehouse, hospital delivery, and final treatment stage. There are five distribution warehouses with Geo-Young's refrigeration system: Incheon Logistics Center, Gimpo West Logistics Center, Uijeongbu North Center, Seoul Gangbuk Center, and Gyeonggi Gunpo Center. Geo-Young plans to establish a new vaccine business headquarters in August, which will be in charge of marketing of biological products such as botulinum toxin, vaccine and biopharmaceuticals. The estimated number of personnel in the organization is about 30 to 40 people. Geo-Young official said, "It has not been confirmed whether Xeomin products will only be in charge of refrigeration or distribution. Zuellig has also participated in this bidding. The final contract will be decided in a month. In addition, the establishment of the vaccine division is also in the review stage, and it is not a final issue.” The earnings of Xeomin and Xeomin 50 in 2018 and 2019 are totaled at 4 billion, 600 million, and 5.6 billion and 100 million, respectively. Xeomin is the first product to remove complex proteins, and since its launch in Germany in 2005, it has been approved for safety through US FDA approval, EMA, and the MFDS, and is used in 65 countries around the world. In 2009, Han Wha signed a contract with Multz and made plans to enter the'Botox' market, such as working on an agency to acquire Xeomin's domestic license, but it is known that with the establishment of Multz Korea in 2011, it is known that when Multz Korea was established in 2011, it is known that the license rights have been renounced. Meanwhile, imported finished botulinum toxin items include Allergan's 50 units of Botox, Botox, and Ipsen's Dysport.
- Company
- MNC employees earn ₩91 million on average
- by An, Kyung-Jin Apr 13, 2021 05:19pm
- GSK Consumer Healthcare Korea employees received on average a salary of 150 million won last year. Employees at GSK Korea, Boehringer Ingelheim Korea, Sanofi Pasteur, Viatris Korea, Kyowa Kirin Korea, Galderma Korea, Pfizer Korea, and Abbvie Korea also received an average salary of over 100 million won. According to the Financial Supervisory Service on the 13th, employees and executives working at 24 Korean subsidiaries of multinational pharmaceutical companies had earned 91 million won on average last year. The amount is based on the salary of 471,742 executives and employees at 24 Korean subsidiaries of multinational pharmaceutical companies that submitted audit reports to the Financial Supervisory Service by April 12th. The average salary per person was calculated by dividing the total salary paid by the number of employees and executives listed in the audit report. Only the salary item in the selling and administrative expenses (SG&A) of the audit report was counted, and other items including the welfare benefits, bonuses, performance-related pay, and retirement allowances were excluded from the calculation. However, the amount may differ somewhat from the actual net pay received by employees depending on the description method of labor cost in each company. GSK Consumer Healthcare Korea paid a total of 12.861 billion won in employee wages last year. The number of executives and employees working at GSK Consumer Healthcare Korea as of last year was 87. As the number of executives and employees stayed the same while the total salary increased by 30.7% from the previous year, the average salary per employee rose by nearly 35 million won. GSK Consumer Healthcare Korea also paid nearly 20 billion won to its retired employees last year. Among the SG&A items, expenses listed as retirement allowance were 1.59 billion won, and 17.31 billion won was retirement bonuses. However, as the number of employees was the same as the previous year, it is difficult to determine the specific number of resignations. GSK Korea, which had kept its position as the top-paid multinational pharmaceutical company based on annual salary until 2019, ranked second place this year by a narrow margin. GSK paid 61.64 billion won in salaries last year, a 3.1% increase from the previous year. The number of executives and employees working at GSK as of last year was 434. With 7 less employees than the year before, the average salary of its people rose by 4.6%. However, as the increase rate fell short of the rate of GSK Consumer Healthcare Korea’s, GSK Korea’s rank fell one level. Boehringer Ingelheim Korea’s average salary rose by 27.4% per employee, which was the second-highest rate of increase after GSK Consumer Health Korea. Boehringer Ingelheim Korea paid 21.26 billion won in salaries last year. The company ranked 3rd place with an average salary of 133 million won, a 28 million won increase from the previous year. Sanofi Pasteur executives and employees received 129 million won on average as annual salary last year. As its number of employees decreased from 61 in 2019 to 53 at the end of 2020 while its total salary increased by 11.1%, the average salary per person rose 27.9% from the previous year. Also, companies including Viatris Korea (126 million won), Kyowa Kirin Korea (118 million won), Galderma Korea (103 million won), Pfizer Korea (102 million won), and Abbvie Korea (100 million won) also had an annual salary that exceeds 100 million won. Among the 24 companies surveyed, 9 companies had an average salary of over 100 million won, and 17 companies had an average salary of over 80 million won. The net pay that the executives and employees actually received may be higher depending on their individual performance. In the audit report, Sanofi-Aventis Korea had stated that it had paid bonuses and wages (2.8 billion won) and performance-based pay (3.3 billion won) in addition to the 47.8 billion won as labor costs. Sanofi Pasteur also listed bonuses and wages (0.4 billion won) and performance-based pay (0.8 billion won) separately from salaries. Amgen Korea had also paid 3.2 billion won as bonuses apart from the 13.8 billion won paid as salaries. In companies that have local manufacturing facilities such as Korea Otsuka Pharmaceutical and Janssen Korea, the actual net pay received by employees was found to be much different from the average salary listed in the audit. As these companies list wages of factory employees as production cost and the salary of clinical team employees and R&D cost., the method dividing the salary listed on SG&A by the number of employees could not accurately reflect the net pay received by their employees. As of last year, the average pay received by executives and employees of multinational pharmaceutical companies far exceeded the amount received by those at listed companies in Korea. Last year, the average salary of 30 KOSPI and KOSDAQ-listed biopharmaceutical companies were 70.4 million won. The amount is an average of the total salary of 2.43 trillion won that was paid to 34,323 employees and internal directors in the 30 companies. Simply calculated without considering the continuous years of service or position of the employees, the average salary per person in domestic pharmaceutical companies is lower by 20 million won. 24 companies - GSK Consumer Healthcare Korea, GlaxoSmithKline, Boehringer Ingelheim Korea, Sanofi Pasteur, Viatris Korea, Kyowa Kirin Korea, Galderma Korea, Pfizer Korea, AbbVie Korea, Lundbeck Korea, Sanofi-Aventis Korea, Amgen Korea, UCB Korea, Bayer Korea, Servier Korea, Lilly Korea, AstraZeneca Korea, Baxter Korea, Guerbet Korea, Novo Nordisk, Menarini Korea, Teva-Handok, Korea Otsuka Pharmaceutical, Janssen Korea - were included in the survey. Among the 25 Korean subsidiaries of multinational pharmaceutical companies that submitted an audit report by April 12th, Janssen Vaccine was excluded as it had minimized its operation of production facilities as well as operating personnel until the production line around its anticancer drugs and next-generation vaccines is reorganized.
- Policy
- Hanmi’s Rosuzet with annual sales of ₩99.1 billion
- by Lee, Tak-Sun Apr 13, 2021 05:46am
- Rosuzet (Hanmi, Rosuvastatin-Ezetimibe), a blockbuster drug with annual prescriptions of ₩99.1 billion, expects to add a new dose. Rosuzet is currently licensed for three doses, and the new dose is known to contain unlicensed doses in Korea. According to industry sources on the 12th, Hanmi recently applied for a new dose of Rosuzet to the MFDS. Rosuzet is a combination drug that combines Rosuvastatin and Ezetimibe, an ingredient for treating hyperlipidemia, containing Ezetimibe 10 mg and three different doses of Rosuvastatin. Specifically, there are 3 items including Ezetimibe-Rosuvastatin 10/10mg, 10/20mg, and 10/5mg. Currently, Rosuvastatin 5mg, 10mg, and 20mg are approved in Korea. However, it is known that the product applied for approval this time contains 2.5mg of Rosuvastatin. Overseas, there are also 2.5mg and 40mg in addition to the currently approved 10mg, 20mg and 5mg in Korea. In particular, Ministry of Health, Labor and Welfare of Japan recommends an initial dose of 2.5mg considering the size of Asians, which are smaller than Westerners. The effect is improved as Rosuvastatin increases, but it is said that side effects also increase. Accordingly, customized prescriptions are also being made in the medical field. Rosuzet's earnings are expected to improve if the number of products by dose increases, taking this into account. In particular, Rosuvastatin 2.5mg and 40mg do not exist in Korea, so the choice of prescription is expected to improve. Rosuzet was a blockbuster drug with sales of ₩99.1 billion (based on UBIST) in outpatient prescriptions last year. However, it is difficult for Rosuzet to maintain its market share, as products such as generics for Atozet have recently been poured into the Statin-Ezetimibe combination market. Therefore, it is noteworthy whether new dose products will lead to growth.
- Policy
- Sanofi withdraws 'EVE QUICK' from domestic market
- by Lee, Tak-Sun Apr 13, 2021 05:46am
- Imported pain relievers that entered the Korean market late are not faring well in Korea's market. This is because brand products like Tylenol, Geborin, and EZN have already settled in the market, and the fierce competition ongoing between multiple companies has left no room for late entrants. As a result, Sanofi has withdrawn its license for ‘EVE Quick tablet’ on the 8th. The 'EVE QUICK tablet' was first introduced to Korea in 2011 by Boehringer Ingelheim. Based on a non-steroidal anti-inflammatory pain killer, ibuprofen, its formula contains magnesium oxide and allyl isopropyl acetyl urea. Like its name, the product was focused on treating pain experienced by women, such as menstrual pain. The drug, which was produced by Boehringer Ingelheim Japan, was often introduced as a must-buy item for travelers to Japan. Sanofi has been selling EVE QUICK since 2017 after acquiring Boehringer Ingelheim's OTC division. In the early days of its release, full-scale efforts were made for the sale of EVE QUICK, including a marketing partnership with Yuhan Corporation. However, its sales revenue did not live up to the company's expectations. In addition, competition became more intense with various pain relievers for women entering the market in the 2010s. No results were found on the performance of EVE QUICK for the past three years on IQVIA, an institution that researches the drug market. In the pain reliever market for women, KyongDong Pharm's 'GNAL-N,' Janssen Korea's 'Women's Tylenol,' and Samjin Pharm’s 'Geworin soft capsule' are waging fierce competition. In 2019, Sanofi also decided to not renew its license for its ‘EVE-A tablet,' leaving it to expire. With the withdrawal of EVE QUICK, Sanofi will have completely withdrawn from the domestic pain reliever market. Other late entrants are also not living up to their company’s expectations. GSK Consumer Healthcare’s ‘Advil' is one example. Although Advil is one of the most commonly sold pain relievers with Tylenol, since its launch in 2013, it has failed to produce significant results in Korea. Based on IQVIA data, Advil’s sales only amounted to 1.6 billion won in 2020. In 2018, Oxy Reckitt Benckiser also withdrew the marketing license for its 3 types of Nurofen pain relievers.
- Company
- Lilly spent ₩9.7 billion in severance pay last year
- by An, Kyung-Jin Apr 13, 2021 05:46am
- Lilly Korea spent nearly ₩10 billion last year as employee severance pay. At the end of last year, the Hope Retirement Program (ERP) was launched for all employees of the sales department, and the amount of severance pay has jumped more than five times from the previous year. According to Lilly Korea's audit report submitted to the Financial Supervisory Service on the 10th, the company recognized ₩9.4 billion last year as retirement benefits. It is 5.4 times more than the ₩1.8 billion recorded in the previous year's retirement benefit. Lilly Korea has submitted an audit report for 15 years since 2006. The retirement benefits stated in the audit report submitted in 2006 amounted to ₩1.6 billion in 2004 and ₩1.8 billion in 2005. It is estimated that the reorganization carried out at the headquarters level last year had an effect. Eli Lilly headquarters last year reorganized with the aim of strengthening non-face-to-face sales activities such as digital programs and promoting productivity and efficiency within the organization. In November, the Korean subsidiary also operated ERP for 100 salespeople, including non-core fields. At that time, Lilly Korea was reported to have offered annual consolation benefits in addition to salary for years of service x 2 months + 8 months as ERP compensation. As of the end of last year, Eli Lilly had 232 employees. Actually, the number of employees who have completed the resignation procedure through ERP is not confirmed. However, compared to the 347 employees reported in 2005, the number of employees decreased by 115 in 15 years. The company has implemented ERP four times since 2014. Lilly Korea's sales last year were ₩162.8 billion, up 2.6% from the previous year. Compared to ₩113.9 billion in 2005, the scale of sales increased by 42.9% in 15 years. Operating profit was ₩10.3 billion and net profit rose 2.3% and 19.9% respectively to ₩9.5 billion.
- Policy
- New drug Leclaza, only drug price negotiations remain
- by Lee, Hye-Kyung Apr 13, 2021 05:45am
- 'Leclaza (Lazertinib)', a non-small cell lung cancer treatment by Yuhan Corporation, the 31st new drug developed in Korea, has passed the first step of reimbursement. After receiving approval from the Ministry of Food and Drug Safety on January 18, the HIRA's Pharmaceutical Benefits Advisory Committee recognized the appropriateness of reimbursement within 81 days. When the HIRA notifies the Minister of Health and Welfare of the results of the review, Leclaza will proceed with drug price negotiations for about 60 days with the NHIS at the order of the Minister of Health and Welfare. When the drug price negotiations with the NHIS are over, the final notification is made through the resolution of the Health Insurance Policy Committee of the Ministry of Welfare. According to the data released by the HIRA in 2017, it takes about 1,030 days for anticancer drugs, 475 days for rare disease drugs, and 550 days for general drugs from approval to notification from the MFDS. In comparison, the anticancer drug Leclaza is expected to shorten the salary registration period by about 30 months. 'Leclaza's high-speed registration process was accomplished because it utilized the permission-insurance drug price evaluation linkage system. The linkage of permit-reimbursement evaluation has been implemented by the MOHW since September 2014, and it is a system that allows new drugs that have been reviewed for safety and efficacy to request permission from the MFDS and at the same time request an evaluation of benefits from the HIRA. From 2016, it is possible to link approval-benefit evaluation to orphan drugs as well as new drugs, so that the pharmaceutical company can apply for drug price evaluation before formal approval if desired. On the other hand, Leclaza is a drug used for the treatment of patients with EGFR T790M mutation-positive locally advanced or metastatic non-small cell lung cancer who have previously been treated with EGFR-TKI. Based on the results of a phase 2 clinical trial (therapeutic exploration clinical trial) conducted in Korea last January, Yuhan applied for permission to the MFDS under the condition of conducting a phase 3 clinical trial (therapeutic confirmation clinical trial) after marketing. .The MFDS also determined that Leclaza is a target anticancer drug that inhibits the proliferation and growth of lung cancer cells by interfering with the signal transmission involved in lung cancer cell growth, and has the advantage of being less toxic to normal cells .The HIRA initiated a reimbursement review following the approval of the safety and effectiveness of the MFDS .On February 24, the agenda was presented and passed by the Cancer Drugs Benefit Appraisal Committee and the Pharmaceutical Benefits Advisory Committee on April 8 .
- Company
- Yuhan distributed gold rings to all employees
- by Kim, Jin-Gu Apr 12, 2021 05:55am
- A gold ring recently issued by Yuhan to all employees. LECLAZA is engraved on the outside of the ringYuhan recently handed out gold rings to former employees, showing Leclaza (Lazertinib)'s commitment to success. According to the industry on the 11th, Yuhan provided a gold ring with LECLAZA to all employees at the end of last February. It was only a month after receiving Conditional Marketing Authorization (CMA) as the 31st Korean drug on January 18th. Yuhan's officials congratulated Leclaza for permission and wished for success in the future. An official from Yuhan said, "A ring was distributed in commemoration of the achievement of the long-aspired work." He wished the success of Leclaza and gave the entire temple a gold ring. Immediately after CMA earlier this year, a gold ring engraved with LECLAZA was delivered. Formation of a marketing team of around 10 people, preparing for full-scale market entry in June Yuhan recently handed out gold rings to former employees, showing Leclaza (Lazertinib)'s commitment to success. According to the industry on the 11th, Yuhan provided a gold ring with LECLAZA in English to all employees at the end of last February. It was only a month after receiving Conditional Marketing Authorization (CMA) as the 31st Korean drug on January 18th. Yuhan officials congratulated Leclaza for permission and wished for success in the future. An official from Yuhan said, "A ring was distributed in commemoration of the achievement of the long-aspired work. I know that the rings have been distributed to all employees as a means of encouraging the R&D department that has struggled with Leclaza permits, and at the same time supporting other departments that will lead Leclaza to success in the future." Another Yuhan official said, "Even though employees who have worked for 10 years or 20 years have received gold as a concept of long-term service, this is first time that all employees have given gold rings." Immediately after CMA earlier this year, a gold ring engraved with LECLAZA was delivered. In addition to this, it is reported that the company is preparing for marketing in earnest by forming a dedicated Leclaza team. Yuhan has formed a marketing team of about 10 people before and after the Leclaza license. It is known that they are already conducting marketing to key doctors in general hospitals and hematologic oncology specialists. The procedure for listing benefits is also going smoothly. As soon as possible, it is expected to enter the market in earnest after being listed on the benefit list in June. Leclaza was evaluated as appropriate as a benefit by the HIRA's Cancer Drugs Benefit Appraisal Committee on February 24, more than a month after CMA. The committee is the first step to benefit. On the 8th, the Pharmaceutical Benefits Advisory Committee recognized the appropriateness of the benefit, and even passed the second step. The only remaining step is actually negotiating drug prices with the NHIS. Yuhan plans to negotiate drug prices with the NHIS within the next 60 days. After that, it is finally listed through the resolution of the Health Insurance Policy Committee of the MOHW. Assuming that the drug price negotiations were successful, Leclaza took only 5 months from application to registration for the MFDS. Other anticancer drugs took an average of 34 months from approval. Leclaza was first approved as a second-line therapy for lung cancer in patients with EGFR T790M mutation-positive locally advanced or metastatic non-small cell lung cancer who had previously been treated with EGFR-TKI. Based on the results of a phase 2 clinical trial (therapeutic exploratory clinical trial) conducted in Korea, it was approved under the condition that a phase 3 clinical trial should be conducted after marketing. Currently, in Korea, the first-generation drug AstraZeneca's Iressa (Gefitinib), Roche's Tarceva (Erlotinib), and the second-generation drug Giotrif (Afatinib )and Vizimpro (Dacomitinib), and EGFR TKI such asTagrisso (Osimertinib) of AstraZeneca, a third-generation drug such as Leclaza, are being prescribed.
- Policy
- 1st Gen. Economic Evaluation Expert Retires from Teaching
- by Lee, Hye-Kyung Apr 12, 2021 05:55am
- Chung-Ang University College of Pharmacy professor Dong-Churl Suh (65), an economics and policy expert in the domestic and foreign pharmaceutical industry, will be retiring in August this year. After graduating from Chung-Ang University College of Pharmacy in 1979, Suh went to the U.S. and obtained a Master of Business Administration from the State University of New York at Buffalo and a Ph.D. in Health Economics from the University of Minnesota. Since 1994, he had lectured and researched the field of pharmaceutical economy and policy serving as a professor and director of the Rutgers University Ernest Mario School of Pharmacy. Prior to teaching at the Rutgers University, Suh was involved in the innovative healthcare policy design team proposed by former U.S. President Bill Clinton during his election process to propose various research and policies related to drug pricing. Later, as a tenured professor at Rutgers University, Suh taught and researched in the fields of pharmaceutical economics, policy, and clinical trial design while serving as director of the Center for International Pharmaceutical Economics and Policy. Suh also participated as an advisor for the New Jersey government for making health care policy decisions. Suh said, "New Jersey, the state where Rutgers University is located, operates many US government and healthcare-related projects, and is a mecca well known by the global pharmaceutical industry. As research director, I worked with various major pharmaceutical companies that had headquarters near the university such as Johnson & Johnson, MSD, Sanofi, Novartis, BMS, and Pfizer. While studying at the University of York and the University of Sheffield in the UK for two years, I participated in the decision-making process of the National Institute for Health and Care Excellence (NICE) while conducting joint research on economic evaluation." These various activities had become the ground for his fame in the US as an economic evaluation and policy expert in the field of pharmaceuticals. Suh was also the one to suggest that Korea needs a new drug pricing system including the introduction of the economic evaluation system. In the early 1990s, during the days of the Federation of Korean Medical Insurance Societies before the Health Insurance Review and Assessment Service, Suh introduced the economic evaluation to address the need for an objective indicator of a drug's price. After becoming a tenured professor at Rutgers University, a position that is extremely difficult even for U.S. citizens to achieve, why did Suh return to teach at a college of pharmacy in Korea, where professors are required to retire at the age of 65? The biggest reason for Suh's return to Korea after 25 years was his parents. When his mother passed away from cancer, Suh chose to return to Korea to take care of his lone father. “When returning to Korea, I received numerous offers from various top universities in Korea. However, I chose my alma mater, Chung-Ang University. While serving as the Dean, I carried out various measures to prepare the college for the 6-year Pharmacy Program and for the establishment of a specialized graduate school for pharmacy. In addition, I invited international economic evaluation and regulatory science experts from the US FDA, Europe EMA, as well as those in the field of Biologics for multiple international conferences and training courses.” During his tenure at Rutgers University, he, along with the dean, created a 6-year curriculum for the College of Pharmacy. Among the roughly 130 pharmacy colleges in the U.S., only about 10 including Rutgers University implement the 6-year program that is being currently being pursued in Korea. “While serving as a professor at the College of Pharmacy of Chung-Ang University, I was able to inform people about the current domestic and foreign medical insurance and drug pricing system, the reality of the international pharmaceutical industry, and the U.S. drug price system. At the college system level, my experience in running a 6-year pharmacy program at Rutgers was immensely helpful as Korea's pharmacy education tends to follow the education method used in the U.S.." Suh explained. While industry-related knowledge and skills are essential for entering the pharmaceutical industry or practicing pharmacy after graduation, Suh believes that the 6-year program should focus on strengthening the student's communication and writing skills as those are the most necessary skills for continued self-development. He believes that he did his role in the development of the pharmaceutical industry and pharmacy education at Chung-Ang University during the last 9 years. Recently, he was elected by members to serve as a director of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) for 3 years, an organization that has 20,000 pharmaceutical economy expert members around the world. Along with foreign economic policy experts, as a director, Suh said he hopes to be able to contribute to the development of Korea’s economic evaluation system and system development to improve patient access to new drugs. On his plans after retirement in August, Suh said, "Even after retirement, I plan to find a place where I can continue my contributions to the field of pharmaceutical economy and policy using my various research and policy proposal experiences."
