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South Korea: Pharmaceutical Industry Infrastructure Overview
Datamonitor, July 2011, Pages: 42
Introduction
South Korea is among the top 10 new drug developers in the world. It has high quality standards and a skilled workforce, plus cost benefits, making it an attractive clinical trials destination. Furthermore, with experience in manufacturing biologics, South Korea is set to become a global leader in the development of biosimilars.
Features and benefits
- Understand drivers and resistors for accessing the South Korean pharmaceutical market.
- Analyze ongoing trends in the R&D and manufacturing sector in South Korea.
- Examine the leading pharmaceutical companies in South Korea, their infrastructure and current strategy in this market.
Highlights
With significant government support and investment, particularly in the biotechnology sector, increased foreign investment from multinational companies is expected. South Korea is more innovative than its emerging Asian neighbors, and offers the same cost benefits and rapid recruitment, making it an attractive clinical trials destination.
With experience in manufacturing biologics, South Korea is set to become a global leader in the development of biosimilars. Already a number of significant deals have been struck between multinational and domestic companies to produce a range of blockbuster biosimilar candidates.
While many of the top-selling pharmaceuticals in South Korea are marketed by large multinationals, there are some sizable Korean drug makers with novel drugs of their own, and the leading companies by sales revenue include a mix of both domestic and multinational firms.
Your key questions answered
- What are the government subsidies to facilitate investments in the South Korean pharmaceutical market?
- Which are the top 10 pharmaceutical companies, and how have they expanded their business operations?
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