KORUS FTA To Benefit US Pharmaceutical Companies

BMI View: The free trade agreement (FTA) signed between South Korea and the US will benefit US pharmaceutical companies more than South Korean drugmakers as the FTA seeks to protect patented pharmaceuticals, which are the primarily from US manufacturers. The South Korea pharmaceutical sector generates mostly generic drugs. BMI believes the implementation of the FTA will further complicate the uncertainty surrounding South Korean drugmakers, which are facing price cuts and other punitive measures.

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