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Open Innovation: The Fast-Track To Global Pharma Power For Korea?

Executive Summary

Although South Korea has a good clinical trial infrastructure, workforce, and novel drug development technology, it still lacks the power to lead the development of new drugs across the finish line. The country needs to create an environment that can attract multinationals to co-research and co-develop drugs with domestic pharma firms under open innovation programs if Korea-originated blockbusters are ever to emerge, experts told a recent forum in Seoul.

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