Korea Toughens Corporate Disclosure Rules To Improve R&D Transparency
Amid a recent stock price rigging scandal involving a local bioventure, and the global push to improve the transparency of clinical trials, Korean financial authorities are pushing for improved public disclose by pharma/biotech companies of key information on clinical development, such as trial failures or suspensions, to better inform investors.
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As the year end approaches, Scrip wraps up what major events made headlines in the South Korean pharma/biotech sector in 2018.
Helped by new guidelines, South Korean pharma and biotech firms now have clearer standards related to the reflection of R&D costs in their accounting books, with some pointing out that biosimilar companies may be the biggest beneficiaries.
The Korean biotech’s CEO and several other executives’ alleged involvement in stock price manipulation using false and exaggerated information on a pipeline stem cell therapy has damaged the credibility of its R&D efforts and shocked the domestic industry, although their fate remains to be determined after court trials.