Korean Pharma Earnings Roundup: Companies Struggled In First Quarter Because of April Price Cuts And Tightened Regulatory Grip On Rebates
This article was originally published in PharmAsia News
As widely expected, top Korean companies were badly hit during the first quarter by April price cuts and a continuing government crackdown on rebates.
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SEOUL - South Korea's top five pharma companies - excluding Green Cross and Daewoong Pharmaceutical - posted sluggish sales in the third quarter, most of them still finding ways to cope with the government's tightening grip on their business practices
SEOUL - South Korea's local pharmas are clambering to tie the knot with multinationals and among themselves in what appears to be a "marriage of necessity" in a desperate attempt to survive a government crackdown on rebates, on which locals have long depended
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