The Minister of Health and Welfare awarded the government’s seal of “innovation” to forty-three pharmaceutical companies
The Minister of Health and Welfare awarded the government’s seal of “innovation” to forty-three pharmaceutical companies on July 18.
The MOHW evaluated the companies based on R&D spending, patents, manufacturing facilities, specialization, creativity, human resources and efforts for clinical trials. The forty-three drugmakers include thirty-six Korean companies, including Hyundai Pharm. Co. LTD, six biotechnology start-up companies, including Crystal Genomix, and one Korean subsidiary of a multinational company, Otsuka Korea.
Once they are sealed as innovative companies, they will receive all the benefits and incentives from the government for the next three years. Tax benefits, waived fees, better drug pricing, guaranteed loans, and other incentives support them to grow further under the government’s “innovation” seal.
Yim Chae Min, Minister of Health and Welfare said, “Forty-three innovative pharmaceutical companies will drive the Korea pharmaceutical industry. They will help Korea ranked in top 7 countries of new drug development."
|
24 
2/2 
