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South Korea: Generics and Biosimilars Overview
Datamonitor, Aug 2011, Pages: 40
Introduction
There is growth potential in the South Korean generics market, driven by high out-of-pocket costs, an aging population and increasing chronic disease. However, there are also numerous resistors to market growth, and the domestic trend towards development of incrementally modified drugs offers multinational companies facing patent expiries lucrative partnering opportunities with global potential.
Features and benefits
- Insight into the key drivers and resistors to generics uptake in South Korea.
- Analyses biosimilar opportunities in South Korea and factors which could drive or restrict future uptake.
- Assesses key players in the generics and biosimilars market in South Korea.
Highlights
- South Korea’s IP and data exclusivity laws have tightened, inhibiting new product opportunities for generics producers. Combined with an increasingly crowded domestic market and growing pressures on generic pricing and margins, South Korean companies are utilizing their expertise in product reformulation to produce super-generics and biosimilars.
- There is strong government support, both in terms of financing and policy development, for the domestic biosimilars industry, but the registration pathway introduced in 2009 is still gaining experience and the enthusiasm of physicians to prescribe new biosimilar offerings will be key to early success.
- Multinational companies have made numerous deals with South Korean companies already in late stage clinical trials for multiple biosimilar candidates, including monoclonal antibodies, while the introduction of biobetter guidelines will help ensure South Korea remains at the forefront of the biosimilars industry going forward.
Your key questions answered
- What are the drivers and resistors to generic uptake in South Korea?
- What deal types are companies entering into when looking to enter or bolster their position in the South Korean generics and biosimilars market?
- Which products are facing patent expiry in South Korea?
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