Following the ruling party’s pledge, the opposition parties also announced their general election pledges to promote Korea’s growth into a pharma-bio powerhouse, by investing in research and development (R&D) and preparing customized drug pricing systems for the global entry of Korea’s new drugs, heralding their intent to foster and develop Korea’s domestic industries.

Both the ruling and opposition parties largely accepted most of the policy proposals submitted by the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, therefore, changes in the pharmaceutical and bio-regulatory administrations and drug pricing policies are expected after the 22nd general election.

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