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- 2026-03-19 04:06:25
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- Samsung Epis, made a surplus of ₩122.5 billion
- by Chon, Seung-Hyun Apr 01, 2020 06:16am
- Samsung Bioepis has made a surplus for the first time since its inception. It has been in deficit every year since its inception in 2012, but it recorded operating profit of ₩122.5 billion due to the growth of biosimilars in overseas markets. Sales also grew more than twice that of the previous year. According to Samsung Bioepis' audit report submitted to the Financial Supervisory Service on the 29th, the company's operating profit last year was ₩122.5 billion, which turned to surplus compared to the previous year. It was the first surplus since it was founded in 2012. Sales Trend of Samsung Bioepis Sales by Year (Unit: KRW 100 million, Source: The Financial Supervisory Service) Since 2010, Samsung Biologics and Samsung Bioepis have been established in April 2011 and February 2012, respectively, after designating biopharmaceuticals as promising business in 2010. Samsung Bioepis' largest shareholder is Samsung Biologics, which holds a 50% stake. Samsung Bioepis recorded a deficit every year due to huge research and development costs. In the first year of 2012, it suffered an operating loss of ₩43.8 billion, and in 2015, 2017, and 2018, the loss amount exceeded ₩100 billion. By 2018, the cumulative operating loss amounted to ₩631.9 billion. In the early days of Samsung Bioepis, Samsung Biologics was invested by Samsung Group through a paid-in capital increase by allocation to stockholder, and some of them were invested in Samsung Bioepis. Samsung Biologics received a total of ₩1178.4 billion from the group through 11 paid-in capital increase from July 2011 to July 2015. Of these, ₩578.4 billion was invested in Samsung Bioepis as a paid-in capital increase method. Samsung Bioepis received a total of ₩640.5 billion in investments from the major shareholder Biogen's participation in paid-in capital increase. Since then, Samsung Biologics has invested ₩400 billion in Samsung Bioepis twice in the ₩2.25 trillion raised on the stock market in November 2016. The total amount of funds Samsung Bioepis has invested from a company is ₩1.04 trillion. The reason behind Samsung Bioepis' strong performance last year is the sales of biosimilars in overseas markets. Samsung Bioepis has launched three biosimilars, Benepali, Flixabi, and Imraldi in the European market. Samsung Bioepis Pipelines (Source: Samsung Biologics) According to Biogen's performance last year, three types of biosimilars such as Benepali, Flixabi, and Imraldi made a total of $838 million in sales last year. In 2018, sales were 35% higher than $550 million, making the highest sales ever. Biogen, the second largest shareholder of Samsung Bioepis, is responsible for distribution and sales of biosimilars in Europe. Although Benepali's sales growth slowed, Imraldi’s sales rose sharply. Benepali, Enbrel's biosimilar, posted sales of $ 486.2 million last year. This is similar to $ 485.2 million in 2018. Benepali led the growth of all biosimilars with 2018 sales up 30.9% year over year. Benepali has the largest share in Europe's Big 5 countries such as Germany, France, the United Kingdom, Italy and Spain. In the past four years, it has accumulated cumulative sales of a total of ₩1.6 trillion in the European market. Humira's biosimilar, Imraldi, posted sales of $ 184 million last year. It's more than 10 times higher than $ 16.7 million in 2018. In October 2018, Imraldi was released to major European countries such as the United Kingdom, France, Germany, Spain and Italy when Humira's material patent expired. The sales volume of Samsung Bioepis has also expanded significantly. The company's sales last year were ₩765.6 billion, more than doubled from the previous year's ₩368.7 billion. Last year's sales were close to 80% of the cumulative sales of ₩974.7 billion for 7 years from 2012 to 2018.
- Company
- Xeljanz to be used with caution in thrombosis patients
- by Nho, Byung Chul Mar 30, 2020 06:18am
- Among the indications for Pfizer's JAK inhibitor Xeljanz (Tofacitinib citrate), the standard for 10 mg high dose prescription of ulcerative colitis has changed. Pfizer recently changed the permission, and added that patients with risk factors for thrombosis should avoid using this drug and patients with signs·symptoms of thrombosis should be evaluated urgently and discontinued if thrombosis is suspected, regardless of efficacy and dosage. In this regard, Pfizer immediately posts the relevant contents on the product homepage, as well as black box warning processing on the package insert, sending hospitals safety letter, and regularly reporting the results of the PMS risk assessment to the MFDS in order to prevent prescription confusion and side effects. Pfizer's actions are attributable to the impact of the results of a post-marketing interim analysis of Xeljanz and TNF blockers such as Humira and Remicade . According to the analysis data, there were significant differences between 3,884 patients in the Xeljanz group (patient-years), 19 cases of pulmonary embolism, and 45 cases of death, whereas 3 cases of pulmonary embolism, and 25 cases of death per 3,982 patients in the TNF-administered group. In July of last year, the US FDA changed the license for ulcerative colitis, one of the indications for Xeljanz, from primary treatment to secondary treatment (only for patients with ulcerative colitis who have failed the existing TNF blocker). In November of the same year, the EMA also announced that it should not use 10 mg maintenance therapy twice a day with Xeljanz for patients with ulcerative colitis at high risk of thrombosis, unless there is no alternative. If high doses must be used in ulcerative colitis, it is recommended that patients at risk for embolism should not start, and that patients in risk groups should be switched to other drugs. Xeljanz is administered 5mg twice a day for rheumatoid arthritis, whereas 10mg twice a day for 8 weeks for ulcerative colitis, followed by 5mg or 10mg twice a day depending on the treatment response. Xeljanz is the first oral drug to appear in the market for rheumatoid arthritis and ulcerative colitis, which has been dominated by biologic injections for the past several decades.
- Company
- SK nabs approval for cilostazol-ginko combination SR drug
- by Lee, Seok-Jun Mar 29, 2020 11:19pm
- On Mar. 25, SK Chemicals has announced the Korean health authority has approved sustained release tablet version of antiplatelet drug Renexin. Renexin is a combination drug consisting of antiplatelet agent cilostazol (200 mg) and ginko biloba extract (160 mg). The combination drug, with cilostazol and ginko biloba extract inhibiting platelet aggregation and blood clot formation, has been confirmed to be effective on improving chronic total occlusions in peripheral arteries-induced ischemic events and preventing recurrent stroke. The Korean-made drug is the world’s first drug to combine the two agents. Moreover, Renexin sustained-release (SR) tablet has significantly reduced the number of adverse events like headache in cilostazol. A Phase III clinical trial conducted in 18 Korean clinical institutes including Severance Hospital has found Renexin SR tablet reduced the prevalence of adverse events by 43 percent than the existing tablet. The SR tablet has also enhanced patients’ drug adherence and convenience with once-daily administration.
- Company
- Lipitor and Vytorin to be priced lower than generic?
- by Eo, Yun-Ho Mar 29, 2020 11:18pm
- An odd phenomenon of the original’s pricing dipping down to 85 percent of the lowest generic pricing may actually happen in Korea. The stepped drug pricing system coming in effect from July prices same-substance drugs under differentiated pricing depending on drugs meeting two qualifying standards. But from 21st same-substance drug, the pricing is fixed at 85 percent of the lower price between the lowest price of the drugs or 38.69 percent of the original’s price. However, a controversy sparked when the Ministry of Health and Welfare (MOHW) explained the stepped drug pricing system would be applied on ownership-transferred drugs. Pharmaceutical companies splitting recently like Pfizer and MSD are currently in process of transferring multiple original products to their spin-offs. And these companies may get impacted critically by the government’s interpretation. ◆"Transferred original? To the back of the line!” The controversy over the reduced original pricing started from the ‘Pharmaceutical Decision and Adjustment Standards’ revised in last February. The Section Ma (마) of the revised drug pricing notice stipulates a drug applying for pricing decision, listed previously but removed, would be priced at its latest maximum price, if it is either a transferred drug by inheritance, business transfer or merge as stated by the Pharmaceutical Affairs Act Paragraph 1 of Article 89, or a transferred drug by importer’s inheritance, business transfer or merge as stated by the Pharmaceutical Affairs Act Paragraph 2 of Article 42. In other words, the manufacturer (usually a Korean company) or the importer (multinational company) transferring a drug with a business license would not be subject to pricing reduction. Nevertheless, the Section Ba (바) of the notice stipulates a drug applying for pricing decision, listed previously but removed, would be priced at a lower price between its latest maximum price or newly calculated price, if it is a transferred drug by the manufacturer’s business transfer as stated by the Pharmaceutical Affairs Act Paragraph 2 of Article 89. This could mean the drug reapplying for pricing could face pricing reduction depending on the number of listed generics and standard qualification stated by the drug pricing notice. For example, the first-in-class pharmaceutical reimbursement on Lipitor (atorvastatin) is removed in the process of Upjohn splitting off from Pfizer and taking over the drug. But Lipitor’s price would fall at 85 percent of same-substance drugs as it would be treated as a generic when reapplying for the listing with more than 20 generic already listed. MOHW official commented, “The Pharmaceutical Decision and Adjustment Standards do not distinguish original or generic, but it manages listing of ‘drugs.’ We see no reason for us to exempt first-in-class drug (usually an original) from the newly revised pricing calculation standards.” ◆"Inconsistent with the policy’s objective, exempt the original from pricing reduction” Basically, the industry is a turmoil. Some of them are considering on taking legal actions to protect their originals getting a price lower than generics. Nevertheless, there is a chance for pharmaceutical companies to protect the original’s pricing even with imminent business and product transfer issues. MOHW has decided to apply the existing standards on products applying for listed pricing by May 2020, unless the products have special condition or need to submit additional data. Therefore, if Upjohn and Organon splitting off from Pfizer and MSD, respectively, were to process the transfer fast enough, they would be able to avoid the pricing reduction. Upjohn would take over Lipitor, Norvasc and Celebrex, whereas Organon is planning to take over Vytorin, Singulair and Zetia. But the window is opened to those two companies only. Multinational companies splitting off-patent drug specializing division in the future would take a heavy blow. In fact, many of global companies are either planning to or considering on a spin-off. Increasing number of Korean companies is also shooting for transferring originals. Because of the situation, Pfizer and MSD may request for rapid approval from their respective headquarters to finalize the transfer earlier. The pharmaceutical industry is infuriated at the Korean government. Considering the generic pricing system revision started from the safety issue of valsartan, the companies cannot accept the Pharmaceutical Decision and Adjustment Standards working against the original and reducing its price. Korean Research-based Pharmaceutical Industry Association (KRPIA) insider noted, “Although the generic pricing calculation has been modified, the contradicting factor in the existing regulation has not been touched up and created a loophole. The association has delivered the industry’s opinion, but we did not get the answer we wanted. The government would have to promptly set down correct interpretation of the regulation coinciding with the original objective of the revision and prevent any confusion in the market.” Regarding the issue, Attorney Lee Hyeong Gun and Song Hyun Ah at Lee & Ko commented, “The new generic pricing system affecting the original’s price when transferring seems to contradict the initial objective of the policy. Not only should the government thoroughly review the interpretation from legalistic point of view, but also it should take into account the possible impact on the original and patient’s options.”
- Company
- Novartis vs. Hanmi: Galvus generic to ignite legal dispute
- by Eo, Yun-Ho Mar 26, 2020 06:12am
- A conflict between Novartis and Hanmi Pharmaceutical is expected to deepen over the generic of the DDP-4 inhibitor Galvus. Novartis Korea is apparently preparing legal actions against Korean pharmaceutical companies attempting to evade patent infringement on Galvus (vildagliptin) by excluding one indication. The legal dispute over the patent would begin from next month as the reimbursement listing on Hanmi Pharmaceutical’s generic ‘Vildagle’ has been decided recently. Hanmi Pharmaceutical won an approval in January on four of indications of the original Galvus, except for the indication to treat a patient unable to control blood sugar level sufficiently with metformin monotherapy. The patent on the last indication is to expire in August 2021. Hanmi Pharmaceutical has requested negative confirmation of scope on the rest of the patents in last December to the Intellectual Property Trial and Appeal Board. The confirmation is still in process. Within the industry, the patent evading strategy has been used previously. Chong Kun Dang has launched a generic Dutesmol before the extended patent term of the original benign prostate hyperplasia and hair loss treatment Avodart (dutasteride) by GSK was expired. But according to Novartis, Galvus’ case is different from the precedent. Unlike Avodart with two contrasting indications of treating benign prostate hyperplasia and hair loss, all indications of Galvus are commonly treating type 2 diabetes. So evading infringement of extended patent term by dropping one indication would be unfeasible. Moreover, it would be impossible to confirm an off-label prescription of the generic for the patented indication as the Korean medical field only gives one prescription code on each disease. And Novartis has warned of forthcoming legal action against the Korean company. Novartis official stated, “The company sees this matter seriously and if the reimbursed Vildagle is to push on with the launch schedule before the patent expires, the company would take all possible legal actions including sales ban. Patent and intellectual property is the driving force of new drug development and pharmaceutical industry’s future advancement.” Regarding the issue, Hanmi Pharmaceutical official stated, “The official release date for Vildagle has not been set due to the COVID-19 outbreak. But the company would do everything to improve patient’s access to treatment and to relieve patients from financial burden by providing high quality generic to them.”
- Company
- FDA approves Phase III Actemra COVID-19 trial
- by An, Kyung-Jin Mar 26, 2020 06:11am
- Actemra product image A late-phase clinical trial in patients with severe case of the 2019 novel coronavirus (COVID-19) would be conducted with Actemra, solely distributed by JW Pharmaceutical in Korea. Roche Group’s Genentech has announced on Mar. 23 the U.S. Food and Drug Administration (FDA) has approved Actemra’s (tocilizumab) Phase III clinical trial in adult patients hospitalized with severe case of COVID-19 to test the medication’s treatment effect and safety profile. The news was out three days after the company informed Actemra is in discussion with FDA about a clinical trial to confirm its effect on COVID-19. Genentech is co-conducting the study with Biomedical Advanced Research and Development Authority (BARDA), a part of the U.S. Department of Health and Human Service (HHS) Office of the Assistant Secretary for Preparedness and Response. The primary and secondary endpoints are clinical status of a patient and mortality rate, and necessity of mechanical ventilator and ICU. Prior to the U.S. health authority’s approval, Actemra’s clinical trials in COVID-19 patient have been initiated globally to test effect and safety. But the study distinguishes itself from the previous studies with intricately designed protocol. Genentech stressed, “Actemra has not been indicated to treat patients with COVID-19, and its medical evidence on benefit to COVID-19 treatment has been limited.” Following the U.S. HHS’ order, the company plans to provide 10,000 vials of Actemra to the U.S. government. Alexander Hardy, the CEO of Genentech stated, “We thank the FDA for rapidly expediting the approval of this clinical trial to evaluate Actemra in critically ill patients suffering from COVID-19,” and “the company has decided to conduct this clinical trial in partnership with BARDA and to provide Actemra to support the national stockpile, through the efforts of Secretary Azar and HHS” Actemra is a humanized interleukin-6 (IL-6) receptor antagonist. The subcutaneous injection is widely used to treat rheumatoid arthritis, systemic juvenile idiopathic arthritis, polyarticular juvenile idiopathic arthritis and cytokine release syndrome (CRS). In 2009, JW Pharmaceutical has signed a deal with Chugai Pharmaceutical under the Roche Group over Actemra for the co-development and exclusive sales in Korean market. The medication was released to the Korean market from 2013, after completing a Phase III study. In July 2014, Actemra SC injection with improved patient adherence was released in the Korean market.
- Company
- Celltrion, clinical trial in COVID-19 in July
- by Lee, Seok-Jun Mar 26, 2020 06:10am
- Chairman Jeong-jin Seo of Celltrion said on the 23rd, "This July, human clinical trials will be started for the development of COVID-19 treatments". He added, "It is possible to develop a therapeutic antibody for 1 million people per month after human administration". Chairman Seo shared this business plan through an online press conference held on the same day. According to the company, Celltrion is developing antibody treatments from February to receive COVID-19 confirmed patient's blood. Currently, 300 candidates have been obtained. Antibodies with excellent virus neutralization ability will be selected by April. It is administered to patients as early as mid-July. Celltrion will begin production of cell lines for mass production of antibodies from May, and production of clinical substances to be administered to the human body will be completed by mid-July or end of July. After the human administration has started, it will develop a therapeutic antibody for 1 million people per month. Antibody means an immune protein that binds to an antigen and interferes with the action of the antigen or removes the antigen. Overseas, Genentech and Eli Lilly are developing COVID-19 antibody treatments. The rate of antibody therapeutic development was the fastest. "COVID-19 neutralizing antibody therapeutics are being developed by five companies, including Korea Celltrion, two global large pharmaceutical companies, and two overseas biotechs", said Seo. He added that "Celltrion can be competitive in future developments due to its mass production capacity. In case of emergency, it has also planned to prepare for supply by using CMO partners". Celltrion also undertakes 'super antibody' screening to neutralize various coronaviruses (mutations, etc.). "In March, we will be screening for super antibody screening that neutralizes the COVID-19, as well as the SARS and even the common cold-causing corona virus. We will collect more blood samples and go ahead in speed", he said. It accelerates the development of the COVID-19 diagnostic kit prototype. The product that Celltrion is developing is a method to detect the S protein that is only present in COVID-19. It is different from the existing rapid diagnosis kit that detects the N protein commonly held by various types of corona viruses. "The Celltrion kit is expected to show performance close to RT-PCR, a standard diagnostic method for COVID-19 positive. 15-20 minutes is enough for test results, so it has the advantage of being able to check the test results on the spot". It is planned to apply for CE certification for export to Europe by completing the production of prototypes in late April and completing clinical trials by the end of May through collaboration with specialized companies.
- Company
- Balloon effect from impurity measures?
- by Chon, Seung-Hyun Mar 25, 2020 06:03am
- Recently, the number of new anti-ulcer drugs that enter the market is rapidly increasing. As the alternative drug market expanded after the Ranitidine’s withdrawal due to excessive detection of impurities in September last year, pharmaceuticals are also actively targeting the generic market. In addition to H2 receptor antagonists such as Famotidine and Laputidine, similar generic products such as Esomeprazole and Artemisia Princeps have also increased significantly. It is pointed out that the generic turmoil in the similar drug market is intensifying due to the balloon effect following the government's strong follow-up of impurities. According to the MOHW's revised notice on a partial revision of Criteria for pharmaceutical reimbursed list & reimbursed upper limit table, from April 1, 9 generic products of “Famotidine 20mg” will be listed on the pharmaceutical reimbursed list. Mirae Pharm, TDS Pharm, Theragen Etex, CMG Pharma, PMG Pharm, SCD Pharm, Daehan New Pharm, and Daewoong Bio sell Famotidine product. Kukje pharm, Arlico, Newgen Pharm, Korea Prime Pharm, Medix Pharm, Eden Pharma, Youngil pharm, Generic products with 'Laputinine', which were approved by eight companies including Kukje pharm, Arlico, Newgen Pharm, Korea Prime Pharm, Medix Pharm, Eden Pharma, Youngil pharm, were also newly added to the list. Famotidine and Laputidine are H2 receptor antagonist drugs and are used for gastric ulcer and duodenal ulcer. It is analyzed that drug companies are actively entering the alternative drug market since last year's banned sales of Ranitidine. The MFDS banned the sale of all products of 'Ranitidine' in late September last year. The market was virtually decided to exit due to the excess detection of the carcinogen N-nitrosodimethylamine (NDMA). September 2019 and April 2020 Famotidine 20mg (left) and Laputidine 10mg (right) Number of health insurance benefits registered (Unit: number, Data: the HIRAAccording to the HIRA, on September 1, last year, a total of 35 other companies were listed for Famotidine 20mg before the ban on the sale of Ranitidine was imposed. However, Famotidine 20mg, listed on April 1, increased 56 companies by 60%. In the case of Laputidine 10mg, the number of products on the reimbursed list increased 11 products from 29 in September last year to 40 in April. The surge in prescriptions of similar drugs after the ban on the sale of Ranitidine drugs is also analyzed as a factor that has pushed the market for pharmaceutical companies. According to UBIST, a pharmaceutical research institute, in December of last year, Outpatient prescriptions for five components, except Ranitidine, of H2 receptor antagonists such as Famotidine, Laputidine, Nizatidine, Cimetidine, and Roxatidine, were ￦10 billion. The prescription size soared 69.5% from August before the occurrence of impurities. The growth of Famotidine and Laputidine was steep. In December of last year, the prescription scale of the single component of Famotidine was ￦3.1 billion, more than three times higher than in August. The size of prescription for Famotidine last year was ￦17.5 billion, an increase of 38.0% compared to the previous year. In December last year, the amount of outpatient prescription for Lafutidine increased by 131.8% from August to ￦3 billion. As the prescription size of Famotidine and Laputidine expanded due to the reflex profit from the withdrawal of Ranitidine, pharmaceutical companies’ market activity was also active. Trends in monthly outpatient prescriptions by component of major H2 receptor antagonists (Unit: ￦1 million, Source: UBIST) Other drugs with similar uses to Ranitidine have also seen a significant increase in the number of generics. In the case of Esomeprazole 20mg (generic for Nexium) increased 16 from 108 to 124 on the benefit list in September. Esomeprazole is a proton pump inhibitor (PPI) -based drug and is most often used as an anti-ulcer agent. Esomeprazole also enjoyed the Ranitidine reflex benefit. Esomeprazole's prescription amount last year was ￦189.3 billion, up 17.1% from the previous year. Esomeprazole's prescription amount increased 20.6% from ￦15.1 billion in September last year to ￦18.2 billion in one month. In December of last year, it exceeded ￦20 billion. September 2019 and April 2020 Artemisia Princeps 90mg Health Insurance Benefits Registered (Unit: pcs, Source: the HIRA)The number of generics participating in the gastritis treatment Stillen market is also on the rise. Stillen is a gastritis treatment with 'Artemisia Princeps' as an active ingredient. Last year, the prescription size of Artemisia Princeps increased by 17.4% from the previous year to ￦87.5 billion. In September of last year, 15 Artemisia Princeps 90mg products were listed, which rose 73% to 26 in 7 months. The industry also complains that the government has been pushing the generics market for alternative medicines as a result of strong measures against impurity medicines. All products of Ranitidine have been discontinued in Korea, while pharmaceutical manufacturers have recovered their products by lot number in the US and Europe. The domestic market containing Ranitidine is about ￦200 billion per year. It is a reality that pharmaceutical companies that have suffered losses due to the sale of Ranitidine have a strategy to make up for other products. An industry insider said, “Excluding all products that have not been found to be harmful to the human body, considerable losses were inevitable and forced to compete in similar markets to make up for the losses”. The US Food and Drug Administration (FDA) issued a statement in November last year that "the hazards of NDMA detected in Ranitidine are comparable to those exposed when eating roasted or smoked meat". An official from a pharmaceutical company criticized, "The ban on the sale of all Ranitidine products in Korea also caused an excessive number of generics".
- Company
- Jina Lee at Bayer stepped up as CEO of Thai Corporation
- by Eo, Yun-Ho Mar 24, 2020 05:20am
- 이진아 총괄Jina Lee, Health BU Head at Bayer, will be represented as the CEO of Thai corporation. Bayer Korea recently announced in its internal announcement that Jina Lee will be appointed as the CDH (Country Division Head) of the Thai Pharmaceutical Division. However, due to the aftermath of COVID-19, the exact departure schedule and the like have not been confirmed. Jina Lee, graduated from the Department of Pharmacy at Duksung Women's University, joined Merck Sereno in 2006 after joining Roche Korea in 1994 and joined Bayer in 2013 as Heart Health BU Head at Bayer. In 2018, she dispatched to Germany's head office marketing department, gained her experience, and returned to a Korean corporation in February last year. From October of last year, she was also a temporary representative for the pharmaceutical business division of a Korean corporation because former Ingrid Drexel was announced as a Turkish corporation. The Korean subsidiary later appointed the new CEO Freda Ta-Ling Lin in December of last year. Meanwhile, Bayer is divided into subsidiaries in the fields of medicine, chemical, and animal medicine such as healthcare, crop science, and material science. After joining Bayer, Jina Lee is said to be leading the cardiovascular business unit, and it is considered to be the leader of the growth of Xarelto (Rivaroxaban).
- Company
- Multinational Pharmaceuticals, COVID-19 Relief Goods
- by Eo, Yun-Ho Mar 24, 2020 05:19am
- Multinational pharmaceutical companies make donations to overcome COVID-19 crisis. According to the related industry, Korean corporations from multinational pharmaceutical companies such as Novartis, Mundipharma, Bayer, and Ferring, including the Korean Research-based Pharma Industry Association (KRPIA), have supported donations and relief supplies this month (March). Novartis recently donated 30,000 masks to the vulnerable. For the vulnerable people who are having difficulties in supply and demand, the company has delivered masks supported by the global headquarters to the KOREA PHS. The KOREA PHS is sponsoring educational and social welfare organizations approved by the MOEL, and are carrying out various sponsorship projects for the health and safety of the vulnerable to overcome this situation. On the 18th, Mundipharma donated a sanitary product kit to overcome COVID-19 crisis to the Seoul branch of the KACCC. Hygiene kits have been prepared to help personal hygiene management, such as washing hands of children and adolescents, in a situation where it is difficult to secure a quantity due to the recent increase in demand for hygiene products. the KACCC is a non-profit organization that provides integrated education and social welfare services to help children and adolescents in need of social care throughout the country enjoy a safe and happy life. Hygiene products will be delivered to each child center in the Seoul area and will be provided to children in need. Pharmaceutical companiesIn the case of Bayer, opinions were collected for each division. The company's contrast agent’s business division supported 280 contrast agents worth ￦13 million for chest coronary augmentation in severe COVID-19 infected patients through the Korean Open Doctors Society composed of medical workers. In addition, Bayer Healthcare recently provided 500 Redoxon vitamins to the Wolseong Social Welfare Center to support overcoming COVID-19 crisis in the Daegu region, which is struggling with the massive spread of COVID-19. Ferring Pharmaceuticals purchased 2,000 hand sanitizers and 200 protective clothing as donations from employees who voluntarily raised them, and donated them to the Daegu Metropolitan City Office's Disaster Safety Response Headquarters on the 5th. This donation started with the suggestion of one employee, and the purpose was to help the Daegu and Gyeongbuk areas, which suffered the most from the COVID-19 crisis. The KRPIA, a representative organization of multinational pharmaceutical companies, decided to donate ￦100 million to the Korean Red Cross so that they could be used at the COVID-19 quarantine site. Individual donations of pharmaceutical's employees are also conducted. If employees participate in a small fundraising, the KRPIA will add donations to the matching fund. The donations are sent to the Senior Citizens Support Center for Living Alone, which is affiliated with the Ministry of Health and Welfare, and are used to purchase emergency kits for food and beverages and supplies for health aids to the elderly living alone in vulnerable groups, including Daegu and Gyeongbuk. Avi BenShoshan, President of the KRPIA said, "Global pharmaceutical companies, as part of the Korean society, will strive to contribute to the efforts of various local communities to overcome COVID-19. We will accelerate our R&D activities to develop vaccines and therapeutics that are our duties".
