Korean Pharma Companies Invest More In R&D and New Drug Development
“When I left Janssen, I never imagined joining a Korean company,” recalls Choi Tae-Hung, sipping a freshly brewed yujacha tea in his office on a crisp autumn morning as he…
Address: Seoul Namdaemunno 5 84-11 bungee Yonsei Foundation Severance Building, 18th floor (Right) 100-753 ,Republic of Korea
Tel: 02) 768-9000/9114
Novartis Republic of Korea is a 500-employee strong organization that registered a turnover of US$294 million in 2007 (272 billion won) and is dedicated to marketing, sales — and research. Headquartered in Basel, Switzerland, the company was created in 1996 through the merger of two former Swiss giants in the pharmaceutical field, Ciba-Geigy and Sandoz. The history of Novartis in Republic of Korea began in 1984 with the arrival of this latter entity. Today, the company maintains a presence through four divisions: Pharmaceuticals; Vaccines & Diagnostics; Sandoz Republic of Korea (a separate legal entity), the only multinational generic drug company in Republic of Korea and the result of rebranding effort to give the Sandoz name a new identity as a generics portfolio; and Consumer Health, which deals with over-the-counter healthcare and lifestyle products such as CIBA Vision (also a separate legal entity) contact lenses.Major products of Novartis Republic of Korea include hypertension treatments Diovan, Co-Diovan, and Exforge, this latter in copromotion with Pfizer; Glivec, a drug to combat chronic myeloid leukemia (CML); Neoral, an immune system suppressant for use with transplant patients; Lescol, a preparation to treat hyperlipidemia; Femara, to prevent the reoccurrence of breast cancer following surgery; and new products Lucentis used to treat wet age-related macular degeneration (AMD), a sight-degeneration condition, Exelon Patch (Alzheimer’s dementia) and Aclasta (osteoporosis).
“When I left Janssen, I never imagined joining a Korean company,” recalls Choi Tae-Hung, sipping a freshly brewed yujacha tea in his office on a crisp autumn morning as he…
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