Big pharma might cut R&D, delay new drugs if more generics with pharmacare

ANDY BLATCHFORD | April 15, 2019

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Brand-name drug companies could put off introducing new medicine in Canada and scale back research here if the country makes a major shift to cheaper generic alternatives under a national pharmacare plan, according to an internal federal analysis. The concerns were included last year in a briefing document for federal Finance Minister Bill Morneau that explored the feasibility and costs of a pharmacare program. Pharmacare is shaping up as a key campaign issue in the October election, particularly for the Liberals. The Finance Department's analysis was created a few days before Morneau's 2018 budget officially launched an advisory group on Canada-wide pharmacare, which the Liberals say will cut costs and improve Canadians' access to prescription drugs. The document said more information is needed to fully understand how national pharmacare would affect drug spending in Canada — and what it would mean for revenues and business operations for the domestic pharmaceutical industry.

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Daewoong Pharmaceuticals

Establish in 1945, Daewoong Pharmaceuticals Co., Ltd. is a public South Korean pharmaceutical company that develops, manufactures, and commercializes pharmaceuticals for both the domestic and international markets. Through our strong M&S divisions, Daewoong has the largest prescription drug sales in the South Korean market. Presently, we commercialize 10 blockbuster products. In addition, we have built a strong internal core competency for new drug development and have expanded regional and global collaborations with international partners. To reach our goal to become a global health care company, Daewoong has expanded international operations establishing branches offices throughout Asia and research centers in the US, China, and India. Currently, Daewoong is constructing a new manufacturing facility under cGMP guidelines to meet the needs of our global partners.

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Daewoong Pharmaceuticals

Establish in 1945, Daewoong Pharmaceuticals Co., Ltd. is a public South Korean pharmaceutical company that develops, manufactures, and commercializes pharmaceuticals for both the domestic and international markets. Through our strong M&S divisions, Daewoong has the largest prescription drug sales in the South Korean market. Presently, we commercialize 10 blockbuster products. In addition, we have built a strong internal core competency for new drug development and have expanded regional and global collaborations with international partners. To reach our goal to become a global health care company, Daewoong has expanded international operations establishing branches offices throughout Asia and research centers in the US, China, and India. Currently, Daewoong is constructing a new manufacturing facility under cGMP guidelines to meet the needs of our global partners.

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