Last year, the drug trade surplus was achieved

It is the first time since statistics were compiled

Celltrion and Hanmi have good production performance in order

Domestic medicine achieved its trade surplus for the first time last year.

 

This is because biosimilar led the export.

 

The MFDS announced on the 1st that it analyzed the production, export, and import performance of drugs, quasi-drugs in 2020.

 

Drugs achieved the trade surplus (₩1.394 trillion won) for the first time since 1998, when the MFDS compiled statistics.

 

The main reason for this is that exports of finished drugs, which accounted for 79.6% of total exports (₩9.96 trillion), increased 92.3% (₩7.9308 trillion) compared to 2019.

 

Quasi-drugs showed a 124% increase in production performance of anti-COVID-19 products (₩3.7149 trillion) compared to 2019.

 

This is largely due to the increase in demand for products to prevent infectious diseases, with production performance of masks and disinfectants rising by 818% and 926% respectively compared to 2019.

 

The average annual growth rate of drug production is 6.9%, which is six times higher than the manufacturing average.

 

In 2020, drug production increased 10.1% year-on-year to ₩24.565.5 trillion, while export performance increased 5.2% year-on-year to ₩9.96 trillion ($8.44 billion), 62.5% year-on-year and import performance to ₩8.57 trillion ($7.26331 billion).

 

Its production performance was 1.2% compared to GDP and 5.1% compared to domestic manufacturers.

 

The MFDS explained that the average annual growth rate over the past five years is 6.9%, which is more than six times higher than the total domestic manufacturing production (1.1%), indicating the possibility of the pharmaceutical industry as Korea's future industry.

 

In 2020, there were two companies with production performance of more than ₩1 trillion, while Celltrion rose 149.2% year-on-year to ₩1.476.9 trillion, followed by Hanmi with ₩1.14.3 trillion, similar to that of 2019.

 

Although the size of the pharmaceutical market fell 4.7% year-on-year to ₩23.17 trillion in 2020, the size of the pharmaceutical market has grown 1.6% annually over the past five years.

 

It was attributed to a significant increase in export performance to 62.5%, respectively, compared to the increase in production performance and import performance (10.1%, 5.2%, respectively).

 

Remsima, Herzuma and Truxima exported the most to Germany In 2020, the drug trade balance recorded ₩1.394 trillion due to rising drug export performance, the first time since 1998, when the MFDS compiled performance statistics such as drug production, export and import.

 

The main characteristic of the domestic pharmaceutical market in 2020 is that the export performance of finished drugs, which led to the ▲ trade surplus, increased by 92.3% and ▲ biosimilar exports are active amid strong performance in the production and export of bio pharmaceuticals,▲ and this is because the proportion of Rx drugs production has been maintained and the production of new drugs in Korea has steadily increased.

 

In the case of finished drugs, which accounted for 79.6% (₩7.9308 trillion) of total drug exports in 2020, exports increased by 92.3% compared to 2019, and were larger than 62.5% of total drug exports, leading to a trade surplus.

 

Among the finished drugs, the top three products in the size of exports are all bio pharmaceuticals, and bio pharmaceuticals account for a large portion of all domestic pharmaceutical exports.

 

Among the finished drugs, Remsima was the No.

 

1 export, followed by Herzuma 150mg with ₩98.6 billion ($80million) and Truxima with ₩75.3 billion ($60million).

 

Germany ($1.855.96 million), the U.S.

 

($780.61 million), and Turkey ($589.55 million) are the countries that Korea exports the most finished drugs.

 

And, the largest importers of finished medicines were the United States ($977.61 million), Germany ($806.65 million), and China ($887.74 million).

 

As a result, the U.S.

 

and Germany have been identified as the largest trading partners.

 

Twelve of the top 20 items in 2020 were bio-medicine products, and eight out of the 12 items accounted for 79.7% ($1.69.65 billion) as bio-similar products.

 

Exports of bio pharmaceuticals have increased significantly in Europe and North America, which is analyzed to have been approved for new item licenses or listed on the prescription list in Europe and the United States in the second half of 2019.

 

The production performance of Rx medicines (₩17.84 trillion) accounted for 84.9% of the finished medicines, 83-84%, which has been maintained for the past five years.

 

Six new domestic drugs produced more than ₩10 billion, and 19 new domestic drugs produced ₩322.1 billion, up 38.2% from 2019.

 

Meanwhile, the production performance of quasi-drugs in 2020 increased by 124% to ₩3.7149 trillion from 2019 (₩1.657 trillion), the highest growth in the past three years, and the trade balance of quasi-drugs recorded a surplus of ₩214 billion in 2020.