Few new OTC drugs as South Korea focuses on specialty drugs

04/17/2013 | Yonhap News Agency (South Korea)

South Korean drugmakers' focus has shifted from over-the-counter drugs since the government mandated that OTC and prescription medicines be separated in 2000, according to the Korea Pharmaceutical Manufacturers Association. Of the 68 OTC drugs with sales volumes more than $4.45 million, only two have been introduced since 2000. Drugmakers are instead focusing their attention on developing and marketing specialized drugs, due in part to a cultural preference for prescription medications and the high cost of advertising OTC drugs.

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Yonhap News Agency (South Korea)

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