Dong-A ST and Dongwha Pharm failed to renew the state-designated certification of the innovative pharmaceutical firm in the government’s review of seven drugmakers.
The Ministry of Health and Welfare published the latest list of innovative pharmaceutical companies on Thursday.
Earlier, seven pharmaceutical companies had their certification expired. They are Dong-A ST, Dongwha Pharm, Yungjin Pharm, Corestem, PharmaResearch Products, Pharmicell, and Tego Science.
The seven won the certification in 2016 and went through the government’s re-evaluation before their certifications expired on June 30.
During the process, Dong-A ST and Dongwha did not apply for the extension of the certification, losing the status of the innovative pharmaceutical company. The rest five had their certification extended until June 30, 2022.
Dong-A ST and DOngwha said they would decide later whether to seek a renewal of the certification, depending on their internal circumstances.
The government designates an innovative pharmaceutical firm based on R&D performance and contribution to the local pharmaceutical industry’s advancement in global competitiveness. The government has recognized 45 innovative drugmakers in Korea to date.
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