vaccination

Korea’s vaccine manufacturers gain additional support

In Emerging Markets, News, Regulation and Policy by soominLeave a Comment

Good news for Korean vaccine manufacturers—the Korean Ministry of Food and Drug Safety (MFDS), formerly known as Korea Food & Drug Administration (KFDA), shared its plans to further support the domestic vaccine developers and boost their global market share.

By growing its WHO pre-qualification counseling and consulting arm, local vaccine manufacturers will be aided with higher chances to obtain WHO pre-qualification certificates. The agency will offer details on PQ documentation, customized counselling, and mock inspections. The MFDS will further examine the quality, safety and efficacy of the vaccines to increase its product credibility, and increase its chances to export globally. “To improve brand awareness of Korean vaccines and to increase international procurement, we set up the plan and will offer other services to raise the competitiveness of domestic pharmaceuticals in the global market”, said one of its ministers.

LG Life Sciences and Green Cross Corp. are the two widely-acknowledged Korean vaccine manufacturers. With the new program in place, the small and mid-sized biotechs will also gain a chance to grow its global competitiveness and deliver quality products.

 

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Image courtesy of apavh.org

 

 

 

 

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