Companies produced KRW 66.7B finished drugs a year
By Chon, Seung-Hyun | translator Alice Kang
25.01.24 05:41:00
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Average finished drug production of pharmaceutical companies increased by 35% in 10 years
Average output of raw material drug makers doubled in 10 years...Large-scale and product restructuring progress
Companies with an annual production of finished drugs worth less than KRW 10 billion account for 51%...companies with raw materials worth less than KRW 10 billion account for 81%
The average production performance of pharmaceutical companies has been gradually increasing. As the scale of the pharmaceutical industry grew, the average production value of both finished drugs and raw materials also continued to grow. For both finished drugs and raw materials, the share of small companies with annual production of less than KRW 10 billion was overwhelmingly large.
According to the MFDS’s '2024 Food and Drug Statistical Yearbook,' 399 pharmaceutical companies produced a total of KRW 25.57 trillion worth of finished drugs in 2023. On average, each pharmaceutical company produced KRW 64.1 billion’s worth of finished drugs.
▲Trends in average production value (left) and number of items (right) of finished drug companies by year (Unit: KRW million, % Source: MFDS)
The average value of finished pharmaceu
Chon, Seung-Hyun(1000@dailypharm.com)
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