Last year, the export of Korean pharmaceutical product achieved $ 4.67 billion, the largest export ever in the history
Posted on : August 22, 2019 09:57 | Modified on : August 22, 2019 09:57
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Over the past five years, the annual average growth rate of the pharmaceutical product export was 17.9% and its upward trend continues.
The Ministry of Food and Drug Safety said that pharmaceutical product export last year amounted to $ 4.67311 billion (5.1431 trillion won), an increase of 14.8% compared to $ 4.07126 billion (4.6025 trillion won) of 2017, the largest export ever in the history.
Also, the annual average growth rate for the past five years (2014-2018) was 17.9% with speedy upward trend and the drug product export amounted to $ 3.08592 billion (66.0%) which was increased by 18.8% from 2017, reaching $3 billion for the first time, and the annual average growth rate showed the high growth rate of 25.8% over the past 5 years.
The amount derived from the production of domestic pharmaceutical products recorded 21.1054 trillion won in 2018, which is increased by 3.7% from 20.3580 trillion won of 2017. Last year, the production of the pharmaceutical products accounted for 1.18% of Gross Domestic Product (GDP) and its portion in the manufacturing sector accounted for 4.35%, the highest in the past 5 years. Further, the annual average growth rate of the pharmaceutical product sector for the past five years (2014 ~ 2018) was 6.5%, which was 2.1% P higher compared with the overall manufacturing industry (4.4%).
Last year, the main trends of Korea's pharmaceutical markets were ▲ increase in amount derived from the ETC drug production ▲ Changes in the rank of No. 1 production company and the product ▲ huge growth of export drugs to the developed markets such as the USA, Germany and to Southeast Asian countries such as Taiwan, Indonesia ▲ 4 year consecutive surplus due to the strong export trend of biomedicine.
On the performance by the pharmaceutical companies, Hanmi Pharm. recorded the 1st place as 907.5 billion won, with 19.5% growth compared with 2017, followed by Chong Kun Dang (817.2 billion won), Celltrion (725.9 billion won), and Daewoong (692.6 billion won).
As for the drug product, IV-Globulin SN Inj. 5% (100.2 billion won), immunoglobulin drug of Green Cross rose to the 1st place from the 7th place of the last year, followed by Meditoxin Inj. of Medytox (95 billion won) and Plavix Tab. 75mg of Handok (81.1 billion won).
As for the drug substance, Celltrion's HERZUMA fluid rose to the top (290.4 billion won), followed by TRUXIMA (211.2 billion won) and REMSIMA (145.2 billion won).
by Do-Young Park