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- 2026-05-11 20:01:10
- Company
- Exkivity applies for reimbursement
- by Eo, Yun-Ho Mar 07, 2023 05:38am
- Exkivity, an anti-cancer drug targeting EGFR exon 20 insertion mutation, is aiming for insurance coverage. Takeda Korea recently submitted a reimbursement application for Exkivity, a treatment for non-small cell lung cancer (NSCLC) with an EGFR exon 20 insertion mutation. This drug targets the same biomarker as Janssen's Rybrevant but differs in that it is an oral drug. EGFR Exon 20 insertion mutation is a new biomarker that has recently attracted attention in the field of non-small cell lung cancer. Currently available anticancer drugs are suitable for Exon19 deletion or Exon21 L858R substitution mutation, which are commonly found in EGFR mutations, but EGFR Exon20 was still a blind spot. Accordingly, it remains to be seen whether GFR exon 20 insertion mutation non-small cell lung cancer targeting anticancer drugs can be listed in Korea. In the case of Rybrevant, it failed to cross the HIRA barrier after applying for benefits once. Rybrevant proved its efficacy through a phase 1/2 study conducted on 114 patients with non-small cell lung cancer with an EGFR exon 20 insertion mutation who had previously received platinum-based chemotherapy. Clinical results, in the patient group who took Rybrevant 160 mg, the ORR evaluated by IRC was 28% and the mDOR was 17.5 months. In particular, the median reaction time after administration of Rybrevant was 1.9 months, confirming that the drug's effect appears quickly from the beginning of treatment. mPFS was 7.3 months and mOS was 24.0 months. The safety profile was also found to be favorable. The most common adverse reactions were diarrhea, rash, and fatigue, which can be managed by adjusting the dose.
- Policy
- ‘RSA may be applied to non-rare innovative new drugs'
- by Lee, Jeong-Hwan Mar 07, 2023 05:38am
- Chang-Hyun Oh, Director of Pharmaceutical Benefits at the Ministry of Health and Welfare The Ministry of Health and Welfare announced it will improve its policy to allow innovative new drugs to be listed for reimbursement through the risk-sharing assessment (RSA) track even if they are not anticancer or rare disease treatments if they demonstrate a clinical effect. If allowed, it is expected that the scope of drugs that are applied RSA will increase, and more drugs that are not designated as rare disease may be promptly listed for reimbursement as long as they have a good effect. Chang-Hyun Oh, Director of Pharmaceutical Benefits at the Ministry of Health and Welfare, said so at the ‘Discussions for the national measure to manage life-threatening rare diseases’ that was held at the National Assembly on the 6th. Director Oh said, “Only anticancer drugs and rare disease drugs are currently applied RSA, however, we plan to pave the way to take the innovativeness of drugs into account and apply RSA to those drugs. We are discussing how to apply RSA to drugs that clinically demonstrate an improvement in quality of life by determining the scope of recognizing innovation for drugs.” Director Oh reiterated the need to set an appropriate drug price compensation policy for innovative new drugs that the ministry had announced as an improvement task this year. Although the ministry had been flexible in applying the reimbursement listing system to life-threatening diseases until now, Director Oh said that the ministry will introduce a system that can improve patient access to drugs that were not designated as rare disease drugs in the future. Director Oh said, “We will discuss measures to allow the application of RSA to treatments that are not designated as rare diseases to allow compensation of their appropriate drug price as long as the treatments have verified their efficacy. For example, diseases such as generalized pustular psoriasis and short bowel syndrome have not been designated as rare diseases, but we will set a standard that can recognize the innovativeness of these treatments as well.” He added, “Although pharmaceutical companies would need to share a part of the burden, we will contemplate ways to open up opportunities for new reimbursement listings this year. We haven’t decided on to what extent we will be recognizing the innovativeness, but will make more efforts under the policy goal of expanding access to new drugs.”
- Company
- Boryung officially launches Zepzelca
- by Kim, Jin-Gu Mar 06, 2023 05:56am
- Boryung announced on the 28th that it has officially launched Zepzelca, a new small-cell lung cancer drug, in Korea. Zepzelca is a new anticancer drug developed by PharmaMar S.A. It is used for metastatic small-cell lung cancer that has failed first-line platinum-based chemotherapy. Zepzelca is a new drug with a mechanism that simultaneously shows 'apoptosis of cancer cells through inhibition of DNA transcription' and inhibition of cancer cell proliferation, immune checkpoint action, and angiogenesis through suppression of transcriptional activity in Tumor-Associated Macrophage (TAM). Zepzelca was approved by the Ministry of Food and Drug Safety in September of last year and will be distributed to medical institutions in earnest through this official launch. It was released in July 2020 in the US. Zepzelca has established itself as a representative second-line treatment for small-cell lung cancer in the United States, with sales of $535 million until last year. Currently, more than 40% of patients with small cell lung cancer are prescribed Zepzelca as a second-line treatment. In Korea, Boryung has held exclusive sales and distribution rights for Zepzelca since 2017. Boryung expects the use of Zepzelca to expand as there are not many types of second-line or higher small-cell lung cancer treatments in Korea. According to the literature supporting the approval of Zepzelca published in The Lancet Oncology, an overall response of 35% based on the entire patient group, the average duration of response of 5.3 months, ease of administration given once every 3 weeks, and manageable side effects such as clinical benefits such as existing drug The contrast effect is evaluated as excellent. For this reason, Zepzelca is also recommended in the NCCN and ESMO guidelines. Young-seok Kim, head of Boryung Onco Division, said, "So far, the options for second-line treatment have been limited for patients with small cell lung cancer who have failed platinum-based chemotherapy."
- Policy
- Tecentriq fails urothelial carcinoma trial but beneficial
- by Lee, Hye-Kyung Mar 06, 2023 05:56am
- Although the conditional clinical trial failed for Roche’s cancer immunotherapy ‘Tecentriq,’ experts in Korea decided to recognize Tecentriq’s benefit for ‘patients with locally advanced or metastatic urothelial carcinoma who are not eligible for platinum-based chemotherapy’ and maintain the indication as it is unethical to reorder clinical trials when these patients have no other alternatives. According to the minutes of the Central Pharmaceutical Affairs Council meeting that was held on November 28th last year which was recently disclosed by the Ministry of Food and Drug Safety, the CPAC members decided to recognize the benefit of the therapeutic confirmatory clinical trial results on Tecentriq. At the time, Roche’s subsidiary Genentech had voluntarily withdrawn Tecentriq’s indication in the US for the treatment of adults with locally advanced or metastatic urothelial carcinoma who are not eligible for cisplatin-containing chemotherapy. In the US, Roche had first acquired Tecentriq’s bladder cancer indication through the Accelerated Approval Program under the condition of conducting a confirmatory trial, then conducted a Phase III IMvigor130 trial to evaluate Tecentriq plus platinum-based chemotherapy for the first-line treatment of people with previously untreated advanced bladder cancer. However, as the designated postmarketing requirement (PMR) did not meet the primary endpoint of overall survival (OS) for Tecentriq plus chemotherapy compared with chemotherapy alone, the company had withdrawn the indication. In 2017, Tecentriq was conditionally approved for the ‘treatment of patients with locally advanced or metastatic urothelial carcinoma who are not eligible for cisplatin-containing chemotherapy and whose tumors express PD-L1 tumor proportion score of at least 5%,’ under the condition that it conducts a therapeutic confirmatory trial to demonstrate superiority over chemotherapy in urothelial carcinoma. The MFDS asked the CPAC to “determine whether the indication should be maintained despite the recent results in the current situation where treatment options have not changed much for urothelial carcinoma since 2017.” To the request, one CPAC member said, “Tecentiq showed an improvement over chemotherapy in some of the efficacy endpoints such as DOR in ITT or PD-L1 positive patients. Therefore, we need to maintain the approval status to offer options to such patients.” The member's opinion was that not many options exist for patients who cannot use platinum-based chemotherapy and that it is better to maintain approval, even if it is a conditional one if the results show a similar level of effect to chemotherapy. Another member said, “Based on the trial, Tecentriq’s combined use with chemotherapy should be excluded, and the indication for patients who are not eligible for platinum-based chemotherapy should be maintained as they have no other options. Therefore, what we need to decide is whether to maintain the indication for patients that can use carboplatin.” The committee chair added the opinion that the company should reconduct the clinical trial in principle. The CPAC chair said, “In principle, the company should conduct the trial again. What matters most is the therapeutic efficacy, so we need to decide whether it is appropriate to allow Tecentriq’s use in all situations and options.” Also, an opinion that it would be better to maintain the indication for patients without options was raised, pointing to how it would not be appropriate to create a situation where the committee's conclusion deprives patients of the only option they may have. The chair concluded, “Although Tecentriq failed the confirmatory trial in urothelial carcinoma, we conclude that we acknowledge the benefits of the drug as it is unethical to order the company to reconduct a clinical trial when patients with locally advanced or metastatic urothelial carcinoma who are not eligible for platinum-based chemotherapy have no other alternatives.” Meanwhile, Roche Korea is known to be discussing whether to maintain Tecentriq’s urothelial carcinoma indication in Korea, with regards to the voluntary withdrawal of the urothelial carcinoma indication in the US.
- Company
- ‘No regrets...happy to have served at Daiichi Sankyo Korea'
- by Eo, Yun-Ho Mar 06, 2023 05:56am
- Dae Jung Kim, President of Daiichi Sankyo Korea “I have no regrets. Although I have no specific plans set for the future, I would like to say it was a great honor to have served over 30 years at Daiichi Sankyo, and will cherish the memory forever.” Dae Jung Kim (63), President of Daiichi Sankyo Korea and the longest-serving multinational pharmaceutical company CEO in Korea, is leaving the industry. Although the company headquarters proposed to extend his term, President Kim has respectfully expressed his intention to resign. As successor, Daiichi Sankyo Korea recently appointed Jeong-tae Kim (49), the current vice president of Daiichi Sankyo Korea, as the new president. Accordingly, President Dae Jung Kim will retire at the end of this month (March) and remain as an advisor to help the company for the time being. “After dividing the employees into over 20 teams, I have been holding farewell parties with them for almost 2 months. Having served such a long time, I wanted to personally meet each and every one of my employees and express my gratitude. I will be leaving the beloved company after completing the overseas workshop that we haven’t been able to conduct due to COVID-19.” After being appointed as President of Daiichi Sankyo Korea in 2010, President Kim led the Korean subsidiary for 15 years. Also, President Kim had been working at Daiichi Pharmaceutical before the company merged with Sankyo in 2007. Kim joined Daiichi Pharmaceutical in 1991. After leaving the company to acquire an MBA, he returned to work in the US office and Japanese headquarters and led the M&A process of the Korean subsidiary. Although Daiichi was not his first place of work, Kim had been with Daiichi Sankyo for nearly 30 years. Kim said, “During my term, I worked to stay true to principle. I believe the role of multinational pharmaceutical companies in Korea is pretty clear. Rather than conduct research or manufacture products, the companies need to supply the products that they have already developed to the Korean patients. Based on this belief, I worked to deliver accurate instructions on how to use the product we introduced to Korea. We thoroughly monitored variables that could occur on-site, unlike in the clinical setting, and focused on improving the knowledge of our employees to ensure accurate information delivery.” While reminiscing, Kim chose the patent term expiry of ‘Olmetec’ as his most difficult period. “At the time, sales of Olmetec fell by nearly 20% due to the inflow of its generics and the price cut that followed. So we decided to take on a ‘choose and focus’ strategy and set the slogan ‘to become reborn as a cardiology treatment specialist,' based on which we discontinued the domestic promotional activity for our antibacterial agent ‘Cravit.' Fortunately, the strategy showed an effect. This decision was solely made by the Korean subsidiary, and we were the only one in the Asia-Pacific region to make such a decision.’ “As a result, we accumulated knowledge and rapport in cardiology, which led to the success of the fourth new oral anticoagulant (NOAC), ‘Lixiana.’ Of course, factors such as the performance of our partners also contributed to the success, so it was a result of everyone's efforts." Immediately after his retirement, President Kim plans to trek the 750km Haeparang trail alone for 50 days. Kim made time for such solitary walks at every turning point of his life. “I only have gratitude and thanks to express to my executives and employees at Daiichi Sankyo Korea. As a leader, I have long been in a position where I had to set a direction and lead the people forward. Having experienced the joys and sorrows together, I want to express thanks to the many that believed in me and followed me through difficult times. I owe my safe retirement to my executives and employees."
- Opinion
- [Reporter's view]Is the Drug Price Reduction Act Good?
- by Kim, Jin-Gu Mar 06, 2023 05:56am
- The fate of the so-called drug price reduction/refund law will be decided sooner or later. It is expected that a decision will be made within this month at the earliest, whether it will be possible to limit the tricks of avoiding drug price cuts for original drugs for several years by applying for suspension of execution. The amendment to the National Health Insurance Act, which passed the Health and Welfare Committee of the National Assembly, was initially put on hold by the Legislation and Judiciary Committee and was likely to fail. However, it was revived as the Health and Welfare Committee decided to directly refer to the plenary session centering on the opposition party. As a result, this amendment is awaiting the final decision of the plenary session of the National Assembly. The plenary session was scheduled for the 23rd and 30th of this month. In the past, there has been a fierce debate over this amendment. The Ministry of Health and Welfare and the opposition party, which favored the bill, put forward the pharmacist's trick and the leakage of health insurance finances as justification. Opposing legal circles and judiciary committees fought back with the logic that the right to request a trial, a legitimate remedy for rights guaranteed by the Constitution, was violated. In the current situation where the opposition party is the majority, the amendment bill seems to be weighted toward passage. For a resolution at the plenary session, the presence of a majority of the current members and the consent of a majority of the members present is required. In other words, the possibility of passing the plenary session, tied to other agenda items, has increased. If the amendment is finally passed, pharmaceutical companies will have to vomit the health insurance finances invested during the drug price cut suspension period if they lose the prominent lawsuit in the future. The problem is that in the process, there is a risk of shrinking the lawsuit claims of pharmaceutical companies. Of course, the abuse of the judicial system will disappear, but it is pointed out that even if the drug price cut is felt to be unfair, even the opportunity to legitimately dispute it can be limited. In terms of the judicial system, there are also criticisms that it can undermine the essence of the suspension system. The bigger problem is then. If the amendment is passed, there is a possibility that the second and third legislations that reduce the right to request a trial will follow. Legislation that limits the right to appeal for a plausible cause is only difficult for the first time and relatively easy for the second and third. The argument in favor of the amendment can be reinterpreted as not a problem if the drug companies' right to file a lawsuit is slightly reduced if it is to root out the abuse of the suspension system and thereby prevent health insurance financial leaks. No matter how repugnant a pharmaceutical company is, it cannot violate even the fundamental rights of the Constitution. It is time to think about whether the drug price reduction method is the only way to prevent pharmaceutical companies from cheating.
- Policy
- Full-fledged competition in the ultra-large market
- by Lee, Tak-Sun Mar 06, 2023 05:56am
- Competition among domestic pharmaceutical companies surrounding the ultra-large market is expected to intensify from April. About 20 companies are expected to receive benefits in the late-breaking drug market for Dukarb, a high blood pressure complex drug of Boryung, which four companies first entered in March, and AstraZeneca's diabetes drug Forxiga's generics have been poured in in droves since April 7, when the patent expired. because it is highly probable. Last year's outpatient prescriptions were 46 billion won for Dukarb, 48.5 billion won for Forxiga, and 42.9 billion won for Xigduo XR, a combination of Forxiga and Metformina. According to the industry on the 1st, domestic pharmaceutical companies are warming up ahead of entering the large market in April. First, a large number of products licensed in January are expected to be listed in Dukarb's generic market. In March, four companies (Arlico, Hana, Hutecs, and Shin Poong), which were licensed in December, entered the market first. However, most companies were approved in January. Only 23 companies were licensed in January. Unlike the original amlodipine, they used S-amlodipine. Since the patent for Kanarb's active ingredient Fimasartan expired on February 1st, there are no barriers to market entry. However, there is no approved item for Kanarb's generic, which is a single agent. Regarding this, an official from a generic company explained, "I understand that they prefer Dukarb's generic, a combination drug, rather than Kanarb, considering the low price of a single drug and its status as a domestic new drug." Given that many generic companies are small and medium-sized enterprises, it is interpreted that they are establishing market strategies considering costs. Forxiga and Xigduo, which use Dapagliflozin as an active ingredient, the entry barrier has been virtually removed after the first substance patent expired on April 7 as the Supreme Court ruled that the second substance patent was invalid in early February. Regardless of the size of sales, most domestic pharmaceutical companies are expected to jump into the generic market. Only 89 companies have licensed Forxiga and Xigduo generics. However, among these, if the deadline for applying for reimbursement was missed in January, if the same ingredient as the applied combination drug is not on the reimbursement list, or if the drug is the same as generic for exclusivity, it will be difficult to enter the market on April 8. In most cases, registration is expected on May 1st, and in the case of the same drug as the generic for exclusivity item, market entry is only possible after January 7th next year when the validity of the generic for exclusivity expires. It seems that many items other than these products will be paid for at once on April 8th. It is known that a number of companies applied for reimbursement in January, and the HIRA conducted a drug price calculation last month. There is also a concern that the market will become complicated, such as illegal rebate competition, if generics are rushed at once.
- Company
- JAK inhibitor market jumped 2.4 times in 3 years
- by Kim, Jin-Gu Mar 03, 2023 05:57am
- (From left) Product photos of Olumiant, Rinvoq, and Xeljanz The market for Janus kinase (JAK) inhibitors, an oral autoimmune disease treatment drug, has expanded 2.4 times over the past three years. In addition to Xeljanz, which was leading the market, new products such as Olumiant and Rinvoq were added, and each product actively expanded its indications. Competition between major products is also getting fiercer. Olumiant overtook Xeljanz to become the No. 1 in the market in its fourth year of release, and Rinvoq grew more than four times last year compared to the previous year, rapidly catching up with Olumiant·Rinvoq. According to IQVIA, a pharmaceutical market research institute, on the 27th, the size of the domestic JAK inhibitor market last year was 40.6 billion won, an increase of 34% compared to 2021. JAK inhibitors are drugs used for autoimmune diseases such as rheumatoid arthritis and atopic dermatitis. It is a mechanism that blocks inflammation, pain, and cell activation by inhibiting inflammatory cytokines. In 2014, Pfizer's Xeljanz was approved in Korea for the first time, followed by Lily's Olumiant in 2017 and AbbVie's Rinvoq in 2020. In 2021, Pfizer received approval for Cibinqo as a successor to Rinvoq. As new products have been introduced one after another in recent years, the size of the related market is also rapidly expanding. The size of the JAK inhibitor market, which was 16.9 billion won in 2018, increased 2.4 times to 40.6 billion won in three years. It is analyzed that not only the addition of new products but also the active expansion of indications for each product had an impact on the market growth. Xeljanz was first approved for rheumatoid arthritis and then added indications for psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis. Olumiant was also initially approved for use as an indication of rheumatoid arthritis. In 2021, the indication was expanded to atopic dermatitis for the first time among JAK inhibitors. In addition, at the end of last year, it applied for the expansion of indications targeting severe alopecia areata. Rinvoq has the fastest rate of indication expansion among major drugs. After receiving approval for rheumatoid arthritis, Rinvoq added indications for psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, and ulcerative colitis one after another from the end of 2021. AbbVie plans to add Crohn's disease to this. ◆Olumiant leader, Rinvoq soaring… Competitive heat for expansion of indications As generic drugs rapidly expand their indications, competition for the lead in this market is also intensifying. Olumiant surpassed Xeljanz and rose to the top spot in the fourth year of its release. Last year, Olumiant's sales increased by 22% year-on-year to 15.4 billion won. The rise of Rinvoq, which secured the most indications in a short period of time, is also remarkable. Rinvoq's sales last year were 11.5 billion won. From 2.7 billion won in 2021, it soared 4.3 times in one year. During the same period, Xeljanz sales decreased by 11% from 15.1 billion won to 13.5 billion won. Xeljanz sales have been declining since 16.2 billion won in 2020. It is analyzed that the fact that the US Food and Drug Administration (FDA) warned of the possibility of cardiovascular side effects of Xeljanz based on post-marketing investigations affected the decrease in sales. The FDA warned not only Xeljanz but also Olumiant·Rinvoq with the same content because the mechanism was similar, but the market impact seems to have been prominently shown in Xeljanz. The pharmaceutical industry predicts that competition among JAK inhibitors will intensify in the future. The key is the atopic dermatitis market. In particular, the application of benefits to children and adolescents is expected to have an impact on future market trends. Currently, Olumiant and Rinvoq are covered for the treatment of moderate to severe atopic dermatitis in adults. In the case of Rinvoq, the indication for atopic dermatitis in children and adolescents has been approved, and there is a possibility that it will receive reimbursement within the year. If Rinvoq expands its coverage to the indication of atopic dermatitis in children and adolescents, it is expected that the rise will be even steeper. Olumiant has not secured indications for atopic dermatitis in children and adolescents. Pfizer is also targeting the atopic dermatitis market with Cibinqo, a follow-up drug to Xeljanz. Cibinqo is approved for the treatment of moderate to severe atopic dermatitis in adults and adolescents 12 years of age and older. However, wages have not yet been applied. Pfizer applied for insurance benefits for atopic dermatitis in adults last year but withdrew it, and recently reapplied for insurance benefits for both children and adolescents and adults.
- Company
- Obesity mkt grows larger than ever...Saxenda leads mkt
- by Chon, Seung-Hyun Mar 03, 2023 05:57am
- The domestic obesity treatment market grew to record an all-time high last year. Saxenda maintained its unrivaled lead for 4 consecutive years and left its competitor Qsymia far behind. According to the market research institution IQVIA on the 2nd, the obesity treatment market grew 22.4% YoY to reach KRW 175.7 billion last year. The obesity treatment market had renewed its record for 4 consecutive years since it first set a 10-year new record of KRW 134.1 billion in 2019. The market, which had recorded KRW 96.8 billion in 2018, had recorded high annual growth of 81.5% for the 4 years that followed. However, this growth in the obesity treatment market had slowed down with the spread of COVID-19. In 2019, the market had grown by 38.5% YoY. However, the market only grew by 6.6% and 0.4% in 2020 and 2021, respectively. At the time, interest in obesity treatments declined with the reduction in people's outdoor activities in the early stages of COVID-19. However, last year, the demand for obesity treatments increased again among people who gained weight due to reduced outdoor activities during the COVID-19 crisis and the rise in outdoor activities with the lift of social distancing measures. Among the treatments, Saxenda rose to the sold lead, breaking the two-way structure it had held with Qsymia. Last year, Saxenda’s sales increased 62.7% YoY to KRW 58.9 billion. This is the largest sales it had recorded since its release. It surpassed the KRW 42.6 billion it had made in 2019 by 38.3% in 3 years. Saxenda is the world’s first GLP-1 (Glucagon-Like Peptide 1) analogue approved to treat obesity. It contains the same ingredients as the company’s 'Victorza (liraglutide)’ which is used to treat diabetes but has a different dosage and administration. After recording KRW 42.6 billion in 2019, Saxenda’s sales fell for two consecutive years to KRW 36.8 billion in 2020, then to KRW 36.2 billion in 2021, but then made a sharp rebound. After making the lead in the obesity treatment market with KRW 5.6 billion in Q4 2018 with its release, the drug has topped the market ever since, for 17 consecutive quarters. Saxenda enjoyed explosive popularity as it acts with the same mechanism of action as the human body's GLP-1 and suppresses the patient’s appetite to induce weight loss, forming the perception that it is relatively safe. Last year, Saxenda occupied 33.5% of the market. Saxenda’s market share surged from 7.8% in 2018 to 31.8% in 2019, then its growth slowed down somewhat to 25.8% and 25.2% in 2020 and 2021. However, the product regained its rapid growth last year, and its share of the market also reached an all-time high. Qsymia maintained its second place in the market. Its sales rose 14.8% YoY and recorded sales of KRW 30.1 billion last year. Qsymia, which was released at the end of 2019, is a combination drug that contains ‘phentermine’ and ‘topiramate’ that Alvogen Korea gained exclusive marketing rights for in Korea from the US company Vivus. Alvogen Korea signed a copromotion agreement with Chong Kun Dang at the end of 2019 and started to sell the drug in earnest in Korea. Qsymia’s rapid penetration into the market was possible due to the synergistic effect of the sales network owned by Alvogen Korea and Chong Kun Dang in the obesity treatment market from selling ‘Furing’ and ‘Furimin.’ Also, the fact that it contains relatively antipsychotics and may be prescribed long-term although it is an oral formulation acted as a success factor. In 2021, Qsymia’s sales rose to KRW 26.2 billion and closely chased Saxenda by KRW 10 billion. However, as Saxenda showed higher growth, the gap widened to 28.8 billion won last year. Sales of Korea Prime Pharm’s ‘ Phendimen’ rose tenfold from KRW 0.7 billion to KRW 8.2 billion last year. Phendimen is an obesity treatment that contains phendimetrazine. Daewoong Pharmaceutical's ‘Dietamine’ sales fell 5.5% YoY to KRW 7.9 billion, and sales of Huons' ‘Hutermin’ also fell 8.9% YoY to record ₩4.8 billion last year.
- Company
- Organizations and people change
- by Eo, Yun-Ho Mar 03, 2023 05:57am
- The Korean branch of Gilead is facing the most significant transformation since its inception in Korea. Various changes such as the establishment of a new business unit are expected along with changes in the composition of the workforce, such as the resignation of executive director Jeong Yeon-shin, a key member of Gilead Sciences Korea along with CEO Lee Seung-woo. First of all, CEO Lee Seung-woo will leave the company at the end of this month (March). Accordingly, Gilead is in the process of hiring a successor for CEO Lee. It is known that CEO Lee decided to retire with his resignation. CEO Lee is a symbol of a multinational company professional manager in the pharmaceutical industry. Having obtained MBA degrees from the University of Alberta in Canada and Columbia University in the U.S., he worked for Johnson & Johnson and the Korea Global Pharmaceutical Industry Association (KRPIA) before being appointed as the CEO of MSD Korea in 1996. He served as the CEO of a Korean subsidiary of a multinational company. In 2011, with the launch of Gilead's domestic corporation, he was appointed as the first head and has maintained his position. He has worked as a professional multinational company manager for over 25 years. Vice President Jeong Yeon-sim will also leave the company at the end of the first half of this year. Vice President Jeong joined Gilead Korea at the beginning of its establishment and was a key person who oversaw the company's external cooperation, such as drug pricing and public relations. His successor was recently confirmed. Director Kim Min-young, who was in charge of policy at the Korea Global Pharmaceutical Industry Association (KRPIA) until last month, will lead Gilead's drug pricing department. Significant changes are expected at the business level. Gilead, which has been a major player in antiviral drugs such as hepatitis B, hepatitis C, and HIV, is preparing to enter the anticancer drug market in earnest in Korea starting this year. He is concentrating on the composition of the anti-cancer drug division along with the introduction of drugs such as CAR-T treatment 'Yescata' and ADC drug 'Trodelby'. Actual recruitment is also actively underway, and there are observations that anticancer drug experience will play a major role in hiring a successor for CEO Lee Seung-woo.
