SOUTH KOREAN EXPORTS UP

Exports of pharmaceutical products from South Korea have shown a rise of 17.2% from the beginning of this year to April 15 compared with the same three-and-a-half month-period of 1993, reports Pharma Japan. During the period, drug exports reached a value of $76.9 million, compared with an increase in imports of only 5.5% to $218 million.

Japan was the largest purchaser of South Korean drugs, at a value of $9.5 million, but this was up only 0.5%. Exports to Hong Kong rose 50.5% to $8.4 million, followed by Spain, 448% to $6.7 million, the USA up 152% to $4.8 million, Taiwan up 220% to $3.4 million and Vietnam up 155% to $3.1 million.

Meantime, the South Korean Ministry of Health and Social Affairs has announced a total overhaul of the National Health Insurance drug price list. The prices of 1,026 drug products on the list, manufactured by 153 companies, have been reduced by an average of 11.98%, but the prices of 187 low-priced essential drugs, produced by 51 manufacturers, have been increased by an average of 35.52%.