• Journal of the Korea Society of Computer and Information
• /
• v.20 no.2
• /
• pp.197-208
• /
• 2015

Pharmaceutical companies over the world are exposed to risks of lessened sales and negative impact on corporate image due to circulation of counterfeit drugs, which eventually threatens safety of patients. thus, in order to eradicate distribution of counterfeit drugs, many countries are taking initiatives to legalize and set serialization through e-Pedigree, which is based on RFID technology or barcode system to track and trace distribution of drugs from point of manufacturing to usage. therefore, this study contemplates domestic and international management system of medical drugs and suggests application methods of e-Pedigree based on RFID technology that promotes safety of patients and distribution of drugs.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.43 no.2
• /
• pp.14-24
• /
• 2020

Google Trends is a useful tool not only for setting search periods, but also for providing search volume to specific countries, regions, and cities. Extant research showed that the big data from Google Trends could be used for an on-line market analysis of opinion sensitive products instead of an on-site survey. This study investigated the market share of tumor necrosis factor-alpha (TNF-α) inhibitor, which is in a great demand pharmaceutical product, based on big data analysis provided by Google Trends. In this case study, the consumer interest data from Google Trends were compared to the actual product sales of Top 3 TNF-α inhibitors (Enbrel, Remicade, and Humira). A correlation analysis and relative gap were analyzed by statistical analysis between sales-based market share and interest-based market share. Besides, in the country-specific analysis, three major countries (USA, Germany, and France) were selected for market share analysis for Top 3 TNF-α inhibitors. As a result, significant correlation and similarity were identified by data analysis. In the case of Remicade's biosimilars, the consumer interest in two biosimilar products (Inflectra and Renflexis) increased after the FDA approval. The analytical data showed that Google Trends is a powerful tool for market share estimation for biosimilars. This study is the first investigation in market share analysis for pharmaceutical products using Google Trends big data, and it shows that global and regional market share analysis and estimation are applicable for the interest-sensitive products.

• Journal of Technology Innovation
• /
• v.21 no.2
• /
• pp.169-197
• /
• 2013

Despite many theoretical and empirical studies, general causality between IPRs system, firm technological innovation and financial performance is not clear. This study notices that the core factor to create financial performance is different by each industry. The study analyzed the effect of IPRs system on innovation and economic growth targeting 3 industries; pharmaceutical industry to which the basic track of creating performance is applied (strengthening IPRs${\rightarrow}$increasing R&D input/output${\rightarrow}$increasing sales); semiconductor industry where the relationship between stronger IPRs and R&D input/output is weak; and shipbuilding industry which has weak correlation between R&D and sales. It used panel data for 15 years since TRIPs when the patent institution in Korea reached up to the level of advanced countries, and applied the dynamic regression model which estimates the fixed effect model with difference-GMM. As a result, stronger IPRs increased R&D input/output, and financial performance in pharmaceutical industry, but has no influence on semiconductor and shipbuilding industries. That is, it is necessary to customize the construction of system and policy for strengthening IPRs by each industry, and unitary strengthening or weakening may have no significant impact on financial performance improvement in specific sectors.

• The Journal of Korean Medicine
• /
• v.35 no.3
• /
• pp.135-154
• /
• 2014

Purpose: There is an issue in applying various principles introduced in established Korean medical classics to "Pharmaceuticals Approval, Notification and Review" of "herbal medicinal preparations" and "new drugs from natural products" that are used for western forms of medical treatment. Thus, an analysis of the origin, purpose, and application of established Korean medical classics in the Korean Pharmaceutical Affairs Act is essential. Methods: We collected data regarding the origin, purpose, and application of established Korean medical classics in the Korean Pharmaceutical Affairs Act, and classified them by periodical change and subjects. Results: Established Korean medical classics are applied as follows: 1) as criteria for Korean medicine distributors' sales of mixed herbal drugs (Pharmaceutical Affairs Act; since 1953), 2) as official compendiums for pharmacists' preparation of Korean medicine (Ministry of Health and Welfare's authoritative interpretation; from early 1970s to 1993), 3) as standards for oriental pharmacists' quality measurement of preparations (notification of the Ministry of Health and Welfare; since 1995), 4) as criteria for "Pharmaceuticals Approval, Notification and Review" of herbal medicinal preparations and crude drug preparations (notifications regarding drug approval process by the Ministry of Health and Welfare and the Ministry of Food and Drug Safety; since 1978), and 5) as standards for the quality of materials of health functional food (from 2004 to 2011). Conclusion: The application of Korean medical classics has been closely related with the change of the laws, regulations, and systems that are relevant to Korean medicine, and it seems to be more favorable for pharmacists than oriental pharmacists. Meanwhile, regulations that apply prescriptions that are recorded in Korean medical classics - dosage, indications, and preparation methods - as criteria for the approval of crude drug preparations for western medical treatment should be abolished.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.37 no.1
• /
• pp.120-126
• /
• 2014

This paper deals with the economic value analysis of meteorological forecasts for a hypothetical inventory decision-making situation in the pharmaceutical industry. The value of Asian dust (AD) forecasts is assessed in terms of the expected value of profits by using a decision tree, which is transformed from the specific payoff structure. The forecast user is assumed to determine the inventory level by considering base profit, inventory cost, and lost sales cost. We estimate the information value of AD forecasts by comparing the two cases of decision-making with or without the AD forecast. The proposed method is verified for the real data of AD forecasts and events in Seoul during the period 2004~2008. The results indicate that AD forecasts can provide the forecast users with benefits, which have various ranges of values according to the relative rate of inventory and lost sales cost.

• Journal of Korea Technology Innovation Society
• /
• v.10 no.3
• /
• pp.406-430
• /
• 2007

Most pharmaceutical licensing deals are made in the early stage of drug development. While this development process is not unique for complicated technology, a special feature of drug development is that it is highly regulated and a well-defined process. Its statistics in terms of costs and chances of technical success have been researched extensively. This enables relatively detailed calculations as benchmarks for actual deals to be made. Based on such calculations and on the analysis of licensing terms in published agreements, various companies offer quite expensive information, databases, software programs and consultation services to help establish what might be reasonable economic terms in a licensing deal. Over the years, pharmaceutical royalties have been the subject of various articles in journals. Most specific on this subject was the article on determining pharmaceutical royalties. Many other articles are about a more general nature deal with determining reasonable royalty rates, evaluating and underpinning the empirical value and usefulness of the 25% rule. The object of this article is to provide a relatively simple analytical approach based on the major economic terms underlying pharmaceutical licensing deals. The aim is to enhance the understanding of the relations between the major factors involved. Details are disregarded, as generally, where the terms of licensing deals depend on predictions over a considerable length of time, the value of detail is limited. Some specific issues addressed by the approach are the impact on profits of large investments, high risks and long development times characteristic of drug development, the consequent strong impact that the ultimate sales levels and operating margins may have on what might be considered a reasonable royalty rate, and the relationship between upfront payments and milestone payments to be paid during pharmaceutical development and the royalties due once the drug enters the market.

• The Korean Society of Law and Medicine
• /
• v.10 no.1
• /
• pp.213-260
• /
• 2009

While the medical supplies have positive functions such as extending lifespan, recovering health, and preventing diseases, they also cause unexpected tragic consequences due to their side effects, and the magnitude of such damage inevitably increases due to the mechanism of mass production, mass distribution, and mass consumption of those medical supplies. Therefore, needless to say, the optimal way to prevent or reduce such damage is rather through medical supply manufacturers' producing non-defective products, or through the government's controlling production and sales of medical supplies with more aggressive exercise of regulatory authority on medical supply manufacturers, than through a remedy by a legal relief after using medical supplies. In this case, although the victim died due to the defect of the cold medicine, 'CONTAC 600', the drug company's responsibility to cover damages was not recognized because a defect could not be found in the then-manufacturing process. Thus, while pharmaceutical companies are gaining economic profits by producing and selling a medical supplies, if they do not take any remedy measures for the victims of their products' side effects, the victims have to use medical supplies under their own responsibility of taking a risk, and they have to accept the full damage of the potential consequence. Therefore, to remove such absurdity and contradiction, and to practically remedy the victim of medical supplies' side effects, the pharmaceutical side effects remedy project pending in the the Drugs, Cosmetics and Medical Instruments Lawneeds to be actively implemented.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.10
• /
• pp.490-497
• /
• 2018

This study is to identify factors influencing therapeutic diversification strategy for Korean pharmaceutical companies. So, it purposes to find deciding factors for companies to adopt strategy for diversification or specialization. In this paper, we set six factors that are expected to influence diversification. The factors are asset scale, sales, profitability, and growth potential. Also, we included number of employees and SG&A cost ratio as factors that reflect business characteristics. We analyzed the impacts of each factor on diversification and found a relationship amongst each other. In this paper, regression analysis is applied with forward selection method, considering that it takes 5 years for companies to decide on diversification strategy. As a result, asset scale, the number of employees and profitability have significantly influenced decisions of diversification at t-1 time, and growth potential was significantly influenced at t-2 time. Korean pharmaceutical companies generally tend to go with specialization model if they have larger asset scale, higher profitability and growth potential. However, they have tendency to decide on diversification strategy, if they have large number of employees. Overall, the result of this study is expected to provide useful information for Korean pharmaceutical companies to set the suitable strategy for their situation to become a competitive company in global pharmaceutical market.

• Journal of Nutrition and Health
• /
• v.30 no.6
• /
• pp.727-732
• /
• 1997

Dietary supplements are generally defined as concentrated sources of nutrients prescribed in addition to the daily diet to increase nutrient intake. These supplements are usually in the form of tablets, capsules, pills, powders, or liquids. Sales of dietary supplements are roughly $4 billion per year in the United States. Nearly 4 out of every 10 adults use dietary supplements regularly. This article is to report the pros and cons in the use of dietary supplements and a brief overview of current law, proposed regulations, and related activities in the United States. It provides what information should be known to the public before federal regulations governing health claims are made . These regulations may decide whether health food industries or pharmaceutical companies can make claims about the function of nutrients.

• Quality Improvement in Health Care
• /
• v.10 no.1
• /
• pp.58-76
• /
• 2003

Background : Aim of this study is focused on the analysis of the needed abilities of medical representatives resulting in building up the market and increasing sales. It is to propose methods to increase this ability ensuring continuous growth in market share and profit. Methods : A survey was conducted between January 6 and May 31, 2003. Using SPSS(Version 10.0), the collected data was analyzed by Hotelling T2, factor analysis. Some hypotheses were selected to include the conclusion. Some questionnaires for physicians working in hospitals or clinics and the medical representatives working in a pharmaceutical company were created and asked to them to either prove or reject those hypotheses. The results were analyzed to find the primary factors that effect the interactions between physician and the medical representatives. These factors were also studied along with the theoretical research based on published references. Results : The results were as follows. The main reasons for the physician to meet with a medical representatives were collection of product informations needed for patient treatment and collection of informations on current medical issue and as well as personal interests. The main parameters by which physicians evaluate the medical representatives are human relationship including sincerity and manners and supply of accurate and unbiased information on products. Overall, the medical representatives' perception on the importance of medical knowledge and ability to deliver it are lower than that expected by physicians. Conclusion : Medical and pharmaceutical companies' environment are changed rapidly. And those changes forced medical representatives to set new roles and competency. In order to drive away from the past 'rule of thumb' and 'adaptation to circumstance', optimal method and systemic development to train and support the medical representatives should be quipped. They will help medical representatives to be specialists in medical knowledge and to understand the exact need of health care professions. Product competitiveness will be increased and eventually successful business can be achieved through it.