Country Analysis Report - South Korea

Economic: Globalization of the pharmaceutical industry is an exciting opportunity to have research and development done at cheaper prices in other countries. However, this could be a double edged sword for companies because it is easy for other countries, such as India, to produce generic versions of the drug in bulk.

With an importance on maintaining a trade surplus, China has heavy defiance towards foreign imports. Moreover, there is a rising trend of preference towards domestic Chinese countries over foreign companies. For instance, General Order No.95 released by the government needs all medical devices imported into China to go through severe safety inspections. However, the same requirements are not applied to Chinese-made products. Firms wishing to introduce new products into the market have to face significant governmental pressure and wait for typically 12 months to have a new piece of equipment permitted. Similarly, the state in Russia is also quite disapproving. In addition to a great degree of bureaucracy, possible changes to legislation that sought to assist the domestic producers instead of foreign firms are likely to take place. In contrast, import of medical equipment has been progressively growing in India, and is consistently to have steady growth in the following years. The level of import defiance in Brazil is the lowermost midst the four countries as Brazil is greatly dependent on import of medical devices. Unlike the other three markets, import tariffs are low, and there are no import duties or value-added taxes on 42 medical devices. In addition, the product

Thesis - Not enough is known about "the long term use and the long term side effects of the toxin, despite the fact that Botox has been approved by The Food and Drug Administration and is being used for a variety of medical conditions."

Eli Lilly’s decision to create a joint venture was not surprising (figure 1). The India government limited foreign direct investment to 51%, importing was subject to manufacturing at high costs outside the country and then paying high importation tariffs, and licensing was not prudent due to an absolute lack of product patents laws that were needed to protect Eli Lilly’s intellectual property.

2. Patent related and Generic Competition: The developed countries like US and Europe have strong patent protection laws which gives a lot of benefits for the pharmaceutical companies. But, the patent

The pharmaceutical industry continues to be a major driver of trend. While demand for medicine rapidly increases in emerging economies, a growing number of consumers are also analyzing the economic performance of different medicines. These events will heighten the challenges the

In John Cho’s article “Global Fatigue- Transnational Markets, Linguistic Capital, and Korean-American Male English Teachers in South Korea,” the author analyzed Korean American male migrants’ psychological transition activities when they had returned to South Korea and taught English there as English teachers. Cho argues that Korean American male English teachers have been struggling in “contradictory feelings of privilege and anxiety in South Korea” and he also deems these feelings originate from their linguistic capital of English. (Cho, 219) According to Cho’s words, he explains this proud feeling is original generated from Korean-American males’ linguistic privilege of proficiency in both English and Korean languages while the feeling

In 2000, botox injection treatments were also approved for treating cervical dystonia, a neurological movement disorder associated with sever neck and shoulder contractions. Finally in April 2002, The FDA granted approval to BOTOX® COSMETIC, the brand used by Allergan Inc. for the temporary improvement in the appearance of moderate to severe glabellar or frown lines in adult men and women ages 18 and up to 65. The approval specifically applies to the vertical lines between the eyebrows. Now Allergan is the one of the main producer and distributor of botox for aesthetic uses world wide.[7]

Hello Everyone. When you hear the word Botox, what is the first thing that comes to your mind? Is it celebrities, people who want to look younger or maybe you just don’t care. Personally for me, when I heard the word Botox before I did my research for this informative speech, I thought of Kim Kardashian or Joan Rivers. But, Botox is more than just social media hype. Botox is a neurotoxin protein called botulinum toxin, that can be used medically to treat certain types of muscular conditions, and cosmetically to remove wrinkles temporarily by paralyzing facial muscles. You may think that Botox used for cosmetic purposes is just for females trying to look younger, but studies have shown that the number of American men

South Korea loves sport, sport is not only a popular physical activity but is a significant social practice. Sport operates as an important cultural resource and produces and disseminates nationalism. Indeed, in recent years, south korea has shown competence in hosting, playing, and managing sport. South Korean athletes have created notable results at major international sport events. For example, since 1984, the national Summer Olympic team has unfailingly been ranked in the top 10 nations on the medal table, with the only exception being the 2000 Sydney Olympic Games. The country has also produced a number of major world sporting events, including hosting

Thesis Statement: Though South Korea may be a small country, the style of cuisine, community culture, and generosity are just a few uniquenesses that outshine its stature.

Japanese industry and infrastructure, which were virtually destroyed during World War II, were systematically rebuilt to transform the country into a global economic leader by the mid-1960s. Post-World War II, the seven-year U.S. occupation of Japan proved to be a blessing in disguise as the Japanese received $2 billion in aid from the U.S. in the form of food, fertilizers, petroleum products and industrial materials.

Manners represent an individual by the way they dress, behave, communicate, and their etiquette, while customs refer to the traditional way that a culture is practice individually, or by a group of people. Workers are expected to bow to their seniors when they greet them, and to use only formal language to their seniors, as it is rude to speak informally to someone of higher rank. In Korean businesses, meetings are often held in evenings at a restaurant or bar. Drinking is part of the Korean culture, as Koreans believe that drinking helps to bond colleagues in the company, and an offered drink must never be refused as it is considered to be rude. Along with drinking, Karaoke is a popular activity after meetings. People who attend the meeting are usually expected to sing a solo song.

Moreover, one may be able to find more potential business partners in exporting to other countries. One may find a business partner that is willing to cater to and audience of Pfizer’s pharmaceutical products from another country.

There are a number of challenges in for setting up clinical trials and performing biopharmaceutical development. In fact, China has the longest drug application timeline of all Asian countries. Language , culture, infrastructure, regulatory and quality issues are some other challenges in the emerging economies