Hee-mok Won, President of Korea Pharmaceutical Bio Association
“Institutionalization so as not to give up due to development costs
The government has to step up to establish pharmaceutical sovereignty”
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The Korea Pharmaceutical Bio Association announced that it needs support, such as large-scale investment from the government, for the development of a domestic novel coronavirus infection (Corona 19) treatment and vaccine. In particular, he stressed that the government should compensate companies for losses resulting from the development of vaccines and treatments so as not to give up the development of vaccines and treatments midway due to development costs.
Won Hee-mok, chairman of the Korea Pharmaceutical Bio Association, said at the New Year’s press conference on the 27th, “We will establish pharmaceutical sovereignty through the development of a domestic COVID-19 vaccine and treatment.” “Even during the pandemic of the H1N1, a domestic company started to develop a vaccine, but after the spread of the H1N1 flu stopped, the losses were serious, such as stocks were accumulated and investments could not be recovered.” He told the government about it, and made it clear that the government would also take responsibility for compensation.”
This year, the association plans to actively resolve difficulties in the field by strengthening communication between the Korea Centers for Disease Control and Prevention, an infectious disease control tower, and the industry. Chairman Won stressed, “We will promote the expansion of the scope and scale of R&D support at the national level in order to develop and produce COVID-19 treatment on our own.”
The association plans to develop a program to support companies in cooperation with the government this year. Chairman Won said, “In order to create added value, new drugs must be developed and released on the market, but due to limitations in capital, technology, and manpower, they are only exporting technology rather than completing the license.” “R&D selection and concentration, mergers and acquisitions, blockbuster creation, “We will create a global success model by expanding the government’s full support for post-clinical trials such as the creation of mega funds. For this, the association suggested to the government that it needs a control tower in charge of fostering the health industry under the direct control of the president. Chairman Won stressed, “It is urgent to install a control tower under the direct control of the President that can manage the development and promotion of full-cycle policies from basic research to clinical trials to global advancement.”
/ Reporter Woo Young-tak [email protected]
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