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Top 10 pharmaceutical firms invested over 1 trillion won in R&D last year

According to Yonhap News,

(SEOUL=Yonhap News) Local pharmaceutical companies spent 1.02 trillion won (US$968.75 billion) in 2017 on research and development (R&D), an increase of approximately 3 percent from the year before, data showed Wednesday.

Celltrion led the pack, allotting 227 billion won, equal to 23.92 percent of its sales. However, the total is down from 2016, when the company spent 264.7 billion won, or 39.47 percent of its sales. Company officials said commercialization of biosimilar products and cost differences according to the development phase of a new anti-flu drug were the reasons for the decrease.

The data were compiled by business reports of drug and bio firms who ranked among top 10 in sales. The R&D level was measured by the amount spent in proportion to company sales.

Hanmi Pharmaceutical came next, funneling 170.6 billion won, or 18.6 percent of its sales, to R&D. Dong-a ST came in third after investing 81.2 billion won, accounting for 14.6 percent of the sales.

Others in the list included Daewoong Pharmaceutical (114.3 billion, 13.18 percent), Chong Kun Dang (98.9 billion won, 11.18 percent), GCPharma (116.6 billion won, 10.6 percent), Ildong Pharmaceutical (48.3 billion won, 10.5 percent), Yuhan (103.7 billion won, 7.1 percent), and JW Pharmaceutical (34.9 billion won, 6.9 percent).

Samsung BioLogics was excluded from the ranking because it is chiefly in the contract manufacturing business.

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Source: Yonhap News (Apr. 04, 2018)

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