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Ministry vows more prudence in designating ‘innovative pharmaceutical company’
  • By Lee Han-soo
  • Published 2017.08.30 16:31
  • Updated 2017.08.30 16:31
  • comments 0

The Ministry of Health and Welfare said Wednesday it will seek more prudence in assessing and extending the certification for “innovative pharmaceutical companies” in early September.

The Pharmaceutical Industry Promotion and Support Committee, a committee operated under the Special Act for the Promotion and Support of the Pharmaceutical Industry, plans to extend the certification of innovative pharmaceutical companies for four companies -- Huons휴온스, Gemvax&Kael젬백스앤카엘, Genexine제넥신 and Sanofi-Aventis사노피아벤티스 – as their certification expires in November.

Then, the committee is to evaluate the ministry’s application for the extension from September to October and grant the final approval in November.

The ministry 보건복지부 said it will make a detailed evaluation guideline for the certification examination committee at the time of the assessment.

Innovative pharmaceutical companies are newly certified once every two years in accordance with the Pharmaceutical Industry Law. Their certification is valid for three years.

The conditions for the extension of the certification include R&D’s ratio to total sales, quality of investment in human resources and materials, innovativeness in R&D, quality of technological advancement and growth, and contribution to the improvement of public health.

The ministry also plans to reveal a second comprehensive five-year plan to nurture and support the pharmaceutical industry later this year.

"The pharmaceutical industry is attracting attention worldwide as a new industry that creates high added value,” said Park Neung-hoo 박능후, the Minister of Health and Welfare, who presided over the Pharmaceutical Industry Promotion and Support Committee for the first time since he took office. "We will continue to strive for the development of the Korean pharmaceutical industry."


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