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KMID : 0370220120560020116
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Yakhak Hoeji
2012 Volume.56 No. 2 p.116 ~ p.125
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Competitiveness in Exports of Pharmaceuticals to Developed Countries: A Comparative Policy Analysis on South Korea and India
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Yun Su-Jin
Cho Eun
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Abstract
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Local pharmaceutical companies in Korea, which have grown focusing on domestic markets, have recently faced difficulties such as market saturation, price control policies and market-opening pressures by FTA. It seems to be an urgent issue for them to export pharmaceuticals to developed countries comprising the greater part of the global pharmaceutical market. Hence, this research was conducted to investigate and benchmark the strategies employed by India industry for the successful access to the global pharmaceutical markets. Drug policies as well as their influences on pharmaceutical market changes between India and Korea for the last 40 years have been searched and the differences have been comparatively analyzed. The pharmaceutical industry of India has the following strengths: low costs; experienced labor pool; excellent reverse-engineering skills; powerful IT; marketing capability; and established distribution network. After 2000, consolidations, M&A and alliances with domestic and multinational companies have been sharply increased in the industry of India. Indian companies unfolding both competition and cooperation with multinational corporations currently move up the value-added chain, and this enthusiastic strategy should be learned by local pharmaceutical companies.
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KEYWORD
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pharmaceuticals export, policy comparative analysis, generic markets, drug policy
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