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- 2026-03-18 18:57:06
- Company
- Daewoong succeeded in evading patent for Belkyra
- by Kim, Jin-Gu Nov 24, 2020 09:01am
- Belkyra Daewoong once again succeeded in patent evasion of 'Belkyra (Deoxycholic acid)', an injection for improving submandibular fat. The original company, Allergan, tried to defend itself through 'divisional application' but failed. According to the pharmaceutical industry on the 23rd, the Intellectual Property Trial and Appeal Board recently decided on ‘an establishment claim’ in a trial to confirm the scope of passive rights filed by Daewoong in formulation patent of Belkyra. As a result, Daewoong successfully avoided two of the three Belkyra patents. Previously, Daewoong successfully avoided Belkyra's formulation patent in June. This patent evasion is an additional patent registered by Allergan earlier this year. Daewoong's patent challenge for Belkyra began in January 2018. Daewoong has filed a trial to confirm the scope of the right to the patent of Belkyra. In June, The Intellectual Property Trial and Appeal Board filed a trial decision on an establishment claim, and Allergan abandoned the appeal, and Daewoong won on July 23rd. However, Daewoong had more things to overcome. In January and April this year, when Daewoong and Allergan's workshops were in full swing, Allergan registered two new patents of Belkyra. Allergan registered only some of the existing patents. It was part of the 'Evergreening strategy' that continues its duration through divisional applications. In the end, Daewoong had to challenge the two divisional applications. In March of this year, Daewoong filed a trial for a passive confirmation of the scope of rights to the newly registered Belkyra’s formulation patent. With this ruling, Daewoong successfully evaded two of the three Belkyra patents. There is still one patent left, but it is said that the pharmaceutical industry will avoid it. If Daewoong overcomes the remaining patent, it currently being developed will be released early. Daewoong Pharmaceutical is currently developing its own injection to improve submandibular fat under the name'DWJ211'. Since March of last year, it has entered phase III clinical trials for 150 patients at Konkuk University Hospital and Chung-Ang University Hospital. The indication is'improvement of moderate/severe submandibular fat', which is the same as Belkyra. When the development is completed, there is a possibility of being sued for patent infringement from Allergan. At this time, the trial decision is expected to be appropriately used for defense purposes. Belkyra is the only drug that has been approved by the US Food and Drug Administration (FDA) to improve submandibular fat. There are indications for moderate/severe protrusion or excessive improvement of submandibular fat in adults. It was released in Korea in early 2018.
- Company
- Will Sanofi's CHC division become an opportunity for growth?
- by Nov 24, 2020 09:00am
- Sanofi began to gain attention afterward as Sanofi started to incorporate the independent consumer healthcare (CHC) division. Sanofi declared that the CHC division became an independent corporation from last year. CEO Paul Hudson, who took office in September last year, mentioned CHC's strategy for an independent corporation in December of that year. Several speculations have been made overseas regarding the establishment of an independent CHC corporation. At the time, foreign analysts speculated that Sanofi could take options such as IPO, sale, or joint venture after establishing an independent corporation. Since the declaration of an independent corporation last year, Sanofi has not come up with a specific CHC strategy, but it seems that each country is preparing a plan for establishing a corporation and operating an organization according to a large strategy at the global level. The hopeful retirement (ERP) recently conducted by the Korean branch for employees in the CHC department is also predicted as part of this big picture. Sanofi-Aventis Korea announced the establishment of an independent CHC corporation on the 13th with the goal of September 2021. After the completion of the ERP, the company plans to go through the process of establishing a corporation. However, Sanofi dismissed the possibility of selling, stressing that even if an independent CHC corporation is established, it will go together within the group rather than sell it. Sanofi CHC division sales trend Compared to the specialty care division, which generates high sales with new drugs such as Dupixent, the CHC division has a growth rate of €1.1 billion (about ₩1.4 trillion), which is almost stagnant. In particular, in December of last year, it was also hit by the problem of collecting remaining balances. In the first quarter of 2020, it made up for the loss by raising sales of €1.3 billion (about ₩1.7 trillion), but it decreased to the level of €1 billion (about ₩1.3 trillion) due to the COVID-19 incident. At the same time, there is also the possibility of the CHC department. In particular, it is worth looking forward to growth in emerging markets. As of last year, sales in developed countries were on a decline, while in emerging markets, sales were insignificant but increased. Scale down seems inevitable. This is because management has repeatedly expressed a willingness to convert OTC sales methods to digital. In a conference call on the 30th of last month, CHC Vice President Julie Van Ongevalle mentioned maximizing digital channels and said, "I believe the CHC division has potential in digital channels." In addition, in Korea, it is expected to be operated on a smaller scale by switching to outsourced sales rather than direct sales. Sanofi said, "Not all businesses, but OTC business will be sold to third parties." In this process, conflict with the union is also expected. The Sanofi union is concerned about the coercive reduction of the size of OTC personnel in the CHC division that the company targets. In this context, it is also in this context that the company is asked for an alternative manpower changeover arrangement in case the applicants for retirement are short of the target number.
- Company
- "TNF blockers in rheumatoid arthritis is a symbol of trust"
- by Eo, Yun-Ho Nov 20, 2020 06:14am
- Professor Kim Geun-tae A tumor necrosis factor (TNF)-α inhibitor was a game changer for the rheumatoid arthritis (RA) treatment scene. An autoimmune disease RA, which causes break down in joints and bone tissues with abnormal immune reaction, has prevalence rate in female patients approximately 0.3 percent to 1 percent higher than male patients. According to South Korea’s Health Insurance Review and Assessment Service (HIRA), about 250,000 patients in South Korea are diagnosed with RA, annually. And biologic therapies were a breakthrough in the chronic RA treatment scene. The biologic therapy for RA, such as Humira (adalimumab), Enbrel (etanercept) and Remicade (infliximab) blocking TNF-α and helping to stop inflammation, targets T-cell co-stimulation or B-cell prior to the inflammatory reaction stage. And recently, the treatment options for RA have expanded with orally taken Janus kinase (JAK) inhibitors like Xeljanz (tofacitinib), Olumiant (baricitinib) and Rinvoq (upadacitinib). However, the healthcare providers’ trust in TNF-α inhibitors is sound. Kim Geun-tae, a professor at Kosin University Hospital Division of Rheumatology said, “The healthcare providers would always welcome a new selection of treatment options. There are new drugs with new mechanism of action that improves administration convenience. But to this day, I usually choose TNF-α inhibitors as a first-line therapy after prescribing methotrexate (MTX). Almost two decades of prescription experience is an asset you cannot ignore.” Professor Kim added, “It would depend on the patient’s condition, but I personally prefer Humira for the balance in safety and efficacy. Of course, other treatments are prescribed strategically as well. Depending on infection (tuberculosis and etc.), adverse reaction, and administration route, I also prescribe other TNF-α inhibitors like Enbrel and Remicade.” But there is inevitable fear of injection among patients. Especially, the user reactions on the pain from the injected TNF-α inhibitor are split. A study found the pain from Humira injection was the worst. Regarding the issue, Professor Kim explained, “Injection could be painful. The Humira brand is doing its best to improve the administration experience for the patients, such as releasing the citrate-free injection in 2017 to remove the pain-causing citrate. And now we have less patients complain about the pain thanks to the pharmaceutical companies’ efforts.” He also elaborated, “We even have to instruct the patients to not remove the syringe until all the content is injected as now they assume the injection is done before it is with the significantly improved level of pain from the new injection type.” The professor was rather concerned of the patients, who try to manage RA through bad folk remedy, instead of proper pharmaceutical therapy. “Some miss the appropriate treatment period, as they refuse to take the drug or explore for a cure in unverified folk remedy. The prognosis of RA heavily depends on the early detection and treatment. RA is a chronic inflammatory disease that requires a life-long management. To treat RA, taking anti-rheumatic drugs is crucial,” he added. Wrapping up the interview, Professor Kim stressed, “As for exercises, I would recommend stretching or yoga that increases range of motion. Although the patients should avoid strenuous exercises, working out two to four hours a week would improve disease activity and the disorder.”
- Company
- Protecting labor rights in multinational company spinoff
- by Nov 20, 2020 06:12am
- The multinational pharmaceutical companies in South Korea came under fire after they started restructuring and downsizing unilaterally and the experts are urging for the labors’ rights to participate and choose should to be secured. On Nov. 18, a member of the National Assembly Environment and Labor Committee and Democratic Party Lawmaker Yoon Joonbyeong, along with Seoul Metropolitan Council member Chu Seung-woo, convened a discussion panel regarding improving the labor environment and job security for the employees at multinational pharmaceutical companies. This marks the first time employees of multiple multinational pharmaceutical companies came together to seek legal improvement. The representatives expressed their commitment to not let their management to frequently conduct reorganization anymore, which results in job reassignment and pressure on resignation. Chair Shim Sang-nam of MSD Korea Labor Union and Professor Kwon Oh-sung of Sungshin Women’s University Department of Law respectively gave a presentation on ‘Issues with the Current Multinational Companies’ Corporate Change,’ and ‘Succession of Labor Relations for Corporate Spinoff.’ Following the presentations, a discussion panel was conducted with Professor Choi Young-woo at Korea Labor Employment Training as a speaker, and Vice-president Jin Sunmee of Korea Certified Public Labor Attorneys Association, Senior Advisor Shin Jong-hwan of MSD Korea Labor Union, CEO and Labor Attorney Kim Kyungrak of Daesang Labor Law Firm, CEO and Labor Attorney A1 Labor Law Firm, and Chair Kang Seungwook of Pfizer Pharmaceutical Korea Labor Union as panelists. Chair Shim Sang-nam said, “Recently, multinational pharmaceutical companies like Pfizer, Takeda, MSD, Roche and Sanofi had gone through reorganization. The rumor goes that when Pfizer does it, then MSD copies it and it spreads throughout the industry. And it is proving itself to be true, while the employees are suffering from job insecurity.” MSD has recently announced the list of 222 employees to be transferred to a new spinoff company Organon. Senior Advisor Shin Jong-hwan stressed, “Many of the employees transferring to Organon feel insecure and call the labor union. Because multinational companies frequently restructure the organization centering new business, the employees feel the insecurity often. So we must find legal and systematic safety net to put a brake on these situations.” Chair Kang Seungwook, who officially moved to Viatris from Pfizer Group from Nov. 16, added, “Like spinoffs in Pfizer and MSD, corporate changes that go against employees’ will happen frequently in the pharmaceutical industry. In the process, we felt the absence of legal support to protect the rights of those employees.” Labor law experts all agreed laws should protect the labors’ rights to participate and express agreement and disagreement in organization restructuring that currently the companies are making the decisions unilaterally. Companies in Germany, for instance, recognize the labors’ rights to refuse, while the laws in Japan and Austria also stipulate the companies to undergo a set of procedures for the labors to formally object based on the principle to succeed the labor relationship. Professor Kwon Oh-sung explained, “Some employees may be forced to transfer to a new company against their will, whereas some would be left behind when they wish to be transferred to new company. Guaranteeing the labors’ rights to participate in decision making is important during the process of corporate split, and we need to seek measures to guarantee the labors’ rights to choose, such as the rights to refuse and formally object.” Labor Attorney Jin Sunmee also stated, “Although a corporate split could greatly influence the employees’ job security, the current commercial law and labor relations law do not stipulate any protection. And often pharmaceutical companies let go of parts of employees by spinning off a new company dedicated to off-patent and less competitive products, which results to job insecurity and workplace discrimination.” Moreover, the attorney argued, “Based on the objective of the constitution and Labor Standards Act, the employees should be able to practice their rights to refuse transfer, when a company splits with a new business proprietor.” Also, Labor Attorney Han Man-ok highlighted, “For multinational companies that cannot create close relationship between the global headquarters and South Korean employees, there exists structural weakness that allows decision making only based on business efficiency. And also because not enough legislative bills on labor relations are passed regarding the business split, it gives off an impression that ‘companies do not have to deeply consider labor relations in South Korea, as there is no legal tools to prevent reorganization due to labor relations.’” Labor Attorney Kim Kyungrak, who organized the panel discussion, added “I personally experienced M&A twice while I was working at multinational pharmaceutical companies like MSD Korea and Allergan Korea for 15 years before I became a labor attorney, and I was even offered an early retirement program. With the corporate change becoming more frequent, we need to hold talks and raise awareness of the employees’ survival.”
- Company
- Bridge plans to establish follow-up development of BBT-877
- by Chon, Seung-Hyun Nov 20, 2020 06:11am
- Bridge Biotherapeutics announced on the 17th that it will establish a follow-up development and business strategy for BBT-877, which was recently returned from Boehringer Ingelheim, within the first half of next year. Bridge Biotherapeutics introduced research and development strategies at an online IR briefing for investors on this day. Bridge Biotherapeutics said, “The return of BBT-877 has been decided according to the internal guidelines of Boehringer Ingelheim.” Bridge Biotherapeutics IR Briefing Materials On the 9th, Boehringer Ingelheim decided to return the rights of the idiopathic pulmonary fibrosis drug BBT-877 to Bridge Biotherapeutics. BBT-877, which was technically exported in the first phase of clinical trials in July of last year, is a drug that inhibits the autotaxin enzyme responsible for fibrosis in various cell types. It is a new drug candidate developed by LegoChem and entrusted to the development of Bridge Biotherapeutics. Bridge Biotherapeutics will not return €45 million received from the technology export of BBT-877. Bridge Biotherapeutics plans to establish a follow-up development plan by reviewing additional data such as the existing developer fee for BBT-877 and the phase II clinical trial plan received from Boehringer Ingelheim. The plan is to finalize the development plan through a meeting with the US Food and Drug Administration (FDA). On this day, Bridge Biotherapeutics presented a blueprint to promote the technology transfer of BBT-401 and BBT-176, which are currently being developed. BBT-401 is a treatment for ulcerative colitis and is undergoing preclinical and phase I clinical trial, and phase II clinical trial. BBT-176, which is being developed as a treatment for non-small cell lung cancer, is currently in the clinical plan approval stage. Bridge Biotherapeutics said, "We will accelerate the clinical development of BBT-401 and BBT-176 and achieve additional global technology transfer within 2021."
- Company
- Zejula for ovarian cancer gets close to 4th-line coverage
- by Eo, Yun-Ho Nov 19, 2020 06:14am
- An anticancer therapy for ovarian cancer Zejula is at the last threshold to win the reimbursement expansion. According to pharmaceutical industry sources, Takeda Pharmaceutical has recently initiated the drug pricing negotiation with the National Health Insurance Service (NHIS) on a poly ADP-ribose polymerase (PPARP) inhibitor Zejula’s (niraparib) expanded indication to treat patients with relapsed ovarian cancer, who have received more than four chemotherapies, as a single therapy. A first PARP inhibitor to be used, regardless of BRCA mutation, Zejula was approved in South Korea in March last year as a monotherapy for the maintenance treatment of patients with platinum-sensitive relapsed high grade serous epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in response (complete or partial) to second or later-line platinum-based chemotherapy. Although it was listed for reimbursement last December, the first reimbursement standard was limited to patients with gBRCA mutation. In last June, the Cancer Deliberation Committee reviewed using the drug as a single-agent maintenance therapy in patients with gBRCA-negative high-grade serous relapsed ovarian cancer who showed complete or partial response in platinum-based chemotherapy, and as a monotherapy in patients with relapsed ovarian cancer who previously received fourth-line or later chemotherapy. Ultimately, only the fourth-line monotherapy indication was approved, while the gBRCA-negative indication failed. But in August, Takeda immediately submitted an application for reimbursement on Zejula as a monotherapy for the patients with platinum-sensitive relapsed high grade serous epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in response (complete or partial) to first-line platinum-based chemotherapy, regardless of BRCA mutation. Currently, the company awaits the decision by Cancer Deliberation Committee. The fourth or later-line indication, currently in negotiation with NHIS, has been approved based on multicenter, open-label QUADRA study in adult patients with ovarian cancer, who have been treated with third or later-line therapy. During the clinical study, Zejula reached its primary efficacy endpoint and demonstrated clinical efficacy with an object response rate (ORR). The patient group with platinum-sensitive homologous repair deficiency (HRD) demonstrated ORR of 24 percent, where as BRCA-positive platinum-sensitive group, BRCA-positive platinum-resistant group and BRCA-positive platinum-refractory group recorded ORR of 39 percent, 29 percent and 19 percent, respectively. And the median duration of response (mDOR), a secondary efficacy endpoint of the trial, in the HRD group was confirmed at 8.3 months. The drug’s safety profile seems it could be under control by adjusting the dose. Originally, Zejula’s reimbursed price was set at 76,400 won per capsule. Compared to the alternative option, Lynparza (olaparib) by AstraZeneca, Takeda’s option was evaluated as more cost-effective. But because Lynparza was listed with a pharmacoeconomic-analysis exemption through the risk sharing agreement (RSA), Zejula was also applied with the expenditure cap type RSA.
- Company
- SGLT-2 inhibitor, effective for patients with kidney disease
- by Nov 19, 2020 06:10am
- SGLT-2 inhibitors, developed as a treatment for diabetes, are further expanding their indications. It has proven its protective effect beyond simple cardiovascular safety, and recently, data proving the benefit of kidney disease is accumulating. In patients with type 2 diabetes, SGLT-2 inhibitors prevented the deterioration of renal function, and in recent large-scale clinical trials, it was also effective in patients with renal impairment regardless of diabetes. This rationale is not limited to Randomized Controlled Trials (RCT). Various RWE studies (CVD-REAL) conducted by AstraZeneca confirm the usefulness of SGLT-2 in the field. In a recent large-scale RWE study conducted on Koreans, CVD-REAL 2, which included 340,000 Koreans, confirmed the cardiovascular benefits in type 2 diabetes patients. However, this CVD-REAL 3 KOREA conducted a study exclusively for Koreans. Also, it has proven effective in diabetic patients with kidney disease. Dailypharm met with Professor Koh Eun-sil, Nephrology of Yeouido St. Mary's Hospital and Professor Hyuk-Sang Kwon, Endocrinology, who participated in the CVD-REAL 3 KOREA study, and heard about the significance of this study and the prospects of SGLT-2 inhibitors. Professor Koh was the first author and Professor Kwon was the corresponding author. From the left, Professor Koh Eun-sil and Professor Hyuk-Sang Kwon The CVD-REAL 3 KOREA study is an RWE study conducted to confirm whether the renal function protection effect of SGLT-2 inhibitors, which was confirmed in previous RCT studies, appears even in the real world containing confounding factors. The study analyzed 90,000 patients with type 2 diabetes in Korea using a propensity score matching technique to analyze patients who started taking SGLT-2 inhibitors and those who started taking other hypoglycemic drugs at a one-to-one ratio of 45016 patients each. It is characterized by the fact that it is the same method as CVD-REAL 3 previously conducted in countries around the world, and that it is only for Koreans. In the SGLT-2 inhibitor group, Forxiga (Dapagliflozin) was the most common with 73.3%, followed by Jariance (Empagliflozin) 20.8%, and Suglat (Ipragliflozin) 6%. As a result, patients taking SGLT-2 had a 53% lower risk of developing end-stage renal failure than those taking hypoglycemic drugs. In particular, patients with glomerular filtration rate (eGFR) of 60-90 and patients with 60 or less showed greater benefits. In this group, SGLT-2 inhibitors had a lower risk of developing end-stage renal failure than taking hypoglycemic drugs by 61%, with or without proteinuria. In addition, taking SGLT-2 inhibitors reduced death from all causes by 18% compared to taking hypoglycemic drugs. Prof. Koh Eun-sil said, "The follow-up period is somewhat short, but this study clearly confirmed the kidney protection effect of SGLT-2 inhibitors." "We participated and the rate was only about 11%, and this time, even a study only observed by Koreans came out in the same way as the global study." Professor Koh expected that this study will play a major role in resolving questions about racial differences. In addition, the RWE study was thought to be helpful in predicting the effect of drugs in actual clinical practice. Corresponding author Professor Kwon Hyuk-Sang also said, "Most of the SGLT-2 inhibitor studies have an average percentage of Asian applicants of 10%, so even if the results are good, it is questionable whether it will be effective in domestic patients." In addition, he added, "This study is meaningful in that it has proven its effectiveness in 100% Korean patients." He then explained, "I think this renal protective effect is a series of effects of the entire SGLT-2 inhibitor rather than a specific drug." He added, "However, since the guidelines are based on evidence, the recommendations will be given priority to drugs that have demonstrated cardiovascular or kidney benefits and have demonstrated cardiovascular or renal benefits." The DECLARE-TIMI58 study confirmed the benefits of kidney in diabetics, and the DAPA-CKD study proved its effectiveness as a treatment for chronic kidney disease with or without diabetes. Currently, AstraZeneca is trying to acquire indications for treatment of chronic kidney disease based on the clinical results of DAPA-CKD. The guidelines of international conferences are also rapidly reflecting the paradigm shift caused by SGLT-2 inhibitors. Recently, Kidney Disease Improving Global Outcomes (KDIGO) recommended a combination therapy of metformin and an SGLT-2 inhibitor as the first-line treatment for chronic kidney disease patients with diabetes based on Forxiga's clinical trial. Although there are possibilities in various areas, it is evaluated that more follow-up observations should be made to determine whether the benefits can be safely maintained in the long term. Nevertheless, Professor Koh looked forward to SGLT-2 inhibitors because there is no suitable treatment for chronic kidney disease. Prof. Koh said clinical studies of drugs that were expected in the field of chronic kidney disease as well as heart failure failed. It has emerged as a hot issue in renal medicine as studies related to SGLT-2 inhibitors are actively conducted. Of course, more analysis through long-term observation is needed, but she said she expects a lot of good data to come out in the future.
- Company
- Game changer Spravato first novel antidepressant in 30 years
- by Nov 19, 2020 06:10am
- Spravato Nasal Spray by Janssen Korea For the first time in three decades, a novel antidepressant has been released in South Korea. Although the drug would be able to provide new treatment opportunity to patients with severe depression through a new mechanism of action, the patients may face high barrier in convenience and pricing. On Nov. 17, Janssen Korea convened a press conference for the launch of Spravato Nasal Spray (esketamine hydrochloride). Spravato is used to treat patients with treatment-resistant depression (TRD), who do not appropriately respond on at least two or more antidepressants. Not only is it the first new antidepressant to be launched in 30 years, but also it is a first option for TRD. Spravato’s main substance esketamine controls the activity of the N-methyl-D-aspartate (NMDA) receptor—an ionotropic glutamate receptor—to improve synaptic transmission and treat the symptoms of depression. Janssen has conducted about 28 studies and clinical trials to test the drug’s efficacy in patients with severe depression, whom do not respond to at least two or more antidepressants, and won the U.S. Food and Drug Administration (FDA) approval in March last year. The South Korean health authority green lit the drug in last June. The biggest benefit of Spravato is a rapid reduction of depression symptoms. While the effect of existing antidepressant options start demonstrating a few weeks after the administration, Spravato’s effect is apparent from the first day of administration. President Lee Sang-yeol (Department of Psychiatry at Wonkwang University School of Medicine) of Korean College of Neuropsychopharmacology (KCNP) explained, “Since 2008, the demand for a novel mechanism of action to display treatment response or remission in a few hours or days was getting bigger. And many of the specialists were most impressed with Spravato’s rapid reduction of symptoms. In fact, many patients repeatedly commit suicide due to depression. I think Spravato would be a big help for these patients.” President Lee Sang-yeol of Korean College of Neuropsychopharmacology Spravato is expected to contribute in raising the complete remission rate and lessening the residual symptoms with its new mechanism of action. In a clinical trial, Spravato showed 52 percent of patients were in remission, and the Spravato group was 51 percent less likely to relapse compared to the reference group only using an oral drug. Regardless of the significant benefit, the realistic barrier still exists. The administration can be done only in hospital to prevent adverse reaction like dissociation. Also it requires a healthcare provider’s monitoring for two hours after the administration. The twice-weekly administration and monitoring at hospital would make patients rather inconvenient. Even President Lee Sang-yeol agreed, “It would be difficult to use Spravato in clinics, as it requires the two-hour monitoring. The drug would be used more frequently in tertiary hospitals with plenty of healthcare providers and emergency patients.” Also its non-reimbursed cost has to be entirely covered by patients. Janssen Korea has not disclosed the official supply price in Korea, but the monthly cost can be estimated based on cases in foreign countries. At a Spravato clinic in Canada, four doses in two weeks would cost approximately CAD 3,000 (approximately KRW 3.57 million). Considering other oral antidepressants cost around a few hundred won and injection around 1,600 won, the patients would be heavily burdened to cover the cost of the nasal spray drug. Although Janssen Korea is seeking for healthcare reimbursement on Spravato, the company is likely to face challenges. It is highly questionable that the current reimbursement system in South Korea would appropriately recognize the drug’s value as other reference drugs’ prices are extremely low. President Lee Sang-yeol stressed the high demand on the Spravato coverage and noted, “New drugs for other diseases can receive coverage regardless of the high price, but a novel psychopharmaceutical struggles to get coverage as they are compared to exceptionally low-priced drugs. As there are tens of thousands of patients with depression in Korea, I desperately hope Spravato would get listed for reimbursement.”
- Company
- Reorganization of multinational companies & plans
- by Nov 19, 2020 06:10am
- A meeting is held to discuss ways to improve workers' environment related to reorganization of multinational pharmaceutical companies. Yoon Joonbyeong, a member of the National Assembly's Environment and Labor Committee, announced that the meeting will be held on the 18th at 10:00 am in the 2nd conference room of the Seoul Metropolitan Council on the way to 'improving the working environment and securing the right to live for workers of multinational pharmaceutical companies' with Seoul City Council member Chu Seung-woo. The conference, hosted by Daesang Labor Law Firm, will be presented by Oh-sung Kwon, professor of law at Sungshin Women's University, and Sang-nam Shim, chairman of the Korean MSD labor union, on whether to succeed in labor relations due to corporate division. The debate was followed by Choi Young-woo, professor at Korea Employment and Labor Educational Institute. And, Seon-mi Jin, Vice Chairman of Korea Certified Public Labor Attorneys Association, Jong-Hwan Shin, advisor to MSD Korea's labor union, Kyung-rak Kim, representative laborer at Daesang Labor Law Firm, and Man-mok Han, representative laborer at A1 Labor Corporation, and Kang Seung-wook, chairman of Pfizer Pharmaceutical Korea's union, attend as a panel to discuss ways to secure workers' right to live.
- Company
- Sanofi to stand alone Consumer Healthcare and offer ERP
- by Nov 18, 2020 12:19pm
- Sanofi is reportedly planning to spin off the Consumer Healthcare (CHC) businesses and offer early retirement program (ERP) to employees under CHC and General Medicine (GenMed). On Nov. 13, Sanofi-Aventis Korea notified all employees the global Sanofi CHC stand alone plan that would also affect the South Korean branch as well. Sanofi official stated, “From early this year, the Sanofi group has been preparing the CHLOE project to consolidate competitiveness within the worldwide organization. The restructuring would be executed to improve business efficiency and sustainable competitiveness. And the key objective is to establish an independent consumer healthcare subsidiary.” Sanofi aims to spin off the CHC and shift the OTC drug sales tactics from direct sales to third-party sales. Also the company is to actively implement the online business model. As a part of the spin off, scheduled to get finalized September next year, the company officially initiated the ERP. The program would be offered to two departments CHC and GenMed The internal change signifies Sanofi’s new R&D strategy to halt researches on diabetes and cardiovascular disease treatment and focus on rare disease, cancer and neurological disorder. Accordingly, the company has disclosed the plan to reduce the size of GenMed businesses, centering on diabetics and cardiovascular treatment currently, based on the headquarters’ new strategy. Sanofi official explained, “As a new product launch from GenMed is unlikely to take place anymore, the demand for necessary human resources would get limited.” The compensation for the ERP would be doubled the number of consecutive working years plus eight months, a standard for multinational pharmaceutical company. However, the company insiders are concerned the number of ERP applicants from CHC would not meet the management’s expectation. Unlike GenMed with over 200 employees and a half of the sales executives having over a decade of experience, CHC has only about 60 employees, who have short consecutive working years ranging from four to five years. Relatively, the ratio of ERP applicants would have to be greater than GenMed. Regarding the issue, Sanofi labor union has requested the management to seek measures to reassign CHC employees to other departments, when the number of applicants is low, conduct ERP only to those who voluntarily applied for, and clarify offer application due date. The union representative said, “CHC is our biggest concern for the ERP. Out of 23 sales executives, at least 18 would have to apply for the ERP, except for the four the management has decided to keep. Because most of them are young, many of them are apparently not planning to apply for the program. We would like for the management to propose other reassignment plan.” Answering to the union’s request, the management official said, “We do not have any other reassignment plan, yet. However, the company does also offer employment referral, training, consulting and other various programs to facilitate employees to transfer.” In 2016, Sanofi and Boehringer Ingelheim have signed a deal to swap CHC businesses. Its major line-ups include the laxative Dulcolax and multivitamin supplements Cenovis.
