In order to increase drug exports, Korean pharmaceutical companies are making investments to meet cGMP standards. The Korea Pharmaceutical Manufacturers Association estimates that the country’s 65 drug firms have invested KRW 1.9 trillion ($1.4 billion) over the past two years to upgrade their facilities. The country’s largest drug firm, Dong-A Pharmaceutical, intends to spend KRW 180–200 billion to update its factory in Dangjin starting in 2012. Yuhan and Dong Wha Pharmaceutical have already made cGMP investments. In 2007, Korea exported $10.19 billion in pharmaceutical products, according to the Korean Pharmaceutical Traders Association. Two Korean facilities that have passed FDA inspection are LG Life Sciences’ site for the production of Factive and Celltrion’s factory in Incheon.
Source: JoongAng Daily