The Korean Ministry of Health and Welfare (MOHW) is currently implementing plans to strengthen the competitiveness of Korea’s pharmaceutical industry. The main goals of the MOHW include establishing a more comprehensive base for research and development for pharmaceutical products in Korea. Among... Read More
Heart disease continues to be one of the leading causes of death in Asia. As countries like Japan, China, Taiwan and the Philippines have a greater demand for medical devices and pharmaceuticals to help treat cardiovascular disease, many foreign medical companies have... Read More
The National Trade Estimate (NTE) Report released in April 2003 by the Office of the US Trade Representative (USTR) recently criticized South Korea’s trade barriers and lack of communication between the Korean government and multinational pharmaceutical companies. Based on the strong language... Read More
As Asian countries begin to adopt more western lifestyles and foods, “western” diseases are becoming more prevalent killers in Asia. Economic transition, urbanization, and technological development have brought about lifestyle changes that have increased the chances for heart disease in Asia. Developing... Read More
This article covers some of the changing dynamics of the regulatory scene in Asia for pharmaceuticals and medical devices, with information and updates from China, Korea, Japan and Taiwan. Drug prices and reimbursement rates have been cut as governments take steps to... Read More
The battle between multinational pharmaceutical manufacturers and the South Korean government continues as the proposed “reference pricing system” moves forward. The reference pricing system, which plans to cut current reimbursement rates for medical treatment in Korea, will have a considerable effect on... Read More
The South Korean government announced the passing of a new bill banning the cloning of human cells starting next year. The bill that was finalized on September 24, 2002, will restrict the cloning of human cells as well as somatic cells. The... Read More
The main regulatory body in charge of overseeing medical devices in South Korea is the Korea Food & Drug Administration (KFDA) established in 1996. Through the Medical Devices & Radiation Health Department, the KFDA performs inspections and quality assurance as well as... Read More
South Korea’s Ministry of Finance and Economy recently announced their plans to develop five Special Economic Zones (SEZs) throughout the country. The plan is part of the Korean government’s endeavor to attract greater foreign investments into the country. Besides special tax incentives... Read More
Slowing economies have not stopped Asian countries from moving ahead with medical device regulatory reforms. Asian consumers demand high-quality healthcare products, making it worthwhile for American manufactures to be active in the region. Procedures and practices vary according to country. This article... Read More