On May 31, Korean Medical Association declared the breakdown of negotiations to decide medical treatment fees for next year. The rupture was due to the vast difference between the 7.5-percent rise requested by KMA and the 2.8-percent hike proposed by National Health Insurance Service (NHIS). KMA pointed out that the government had promised to guarantee “appropriate medical fees” in return for
A local brokerage house issued a report named “Bio bubbles in small-medium capitalization stock market severely damage market integrity” Wednesday. On Thursday, the share prices of biotech stocks nosedived. Not a single biotech stock among the top 100 regarding market capitalization was free from the shocks of the report. The report, which pointed out bubbles in bio-business, was correct in so
It is said that waiting is the answer when it comes to new drugs that usually take 10 years to develop.Developing a new drug is a long tedious battle against time. However, during the development process, a few drugs become a blockbuster by discovering efficacy other than the one initially thought of. Cyclosporine, an immunosuppressant, has become the mainstay of organ transplantation
Originally published on Korean Doctors’ Weekly in June 2016 when Ajou University Hospital opened a regional trauma center, this column about trauma surgeon Lee Cook-jong is drawing attention again after he saved the life of a North Korean soldier who recently crossed the Joint Security Area to the South. The column depicts Lee’s life from the perspective of a colleague doctor. – Ed. Ajou U
It has already been 100 days since the inauguration of the new government of President Moon Jae-in, who came into power with the Korean people’s so-called “candlelight revolution.” Moon’s new policies and moves, which were not conceivable under the former Lee Myung-bak and Park Geun-hye administration, are making headlines. While the former conservative administrations focused on accumulation of w
I attended the “2017 BIO International Convention” held in San Diego, Calif., from June 19-23. This event, the 24th annual conference hosted by the Biotechnology Industry Organization (BIO), is the world’s largest bio industry conference along with J.P. Morgan’s Healthcare Conference. More than 1,800 companies and 16,000 people from 76 countries attended it. About 300 Koreans officials representin
In late February, I visited Ravensburg, Germany, to discuss the consignment production of medicinal products with Vetter, a contract manufacturing organization (CMO). The abbreviation refers to a specialized manufacturer of medicines which produce bio drugs on a consignment basis, and Vetter is an internationally renowned CMO that ranks among the global top 10 in this field.In fact, most o
