S. Korea's Pharmaceutical Market Grows 5.3 pct in Q1 - (The Korea Bizwire via NewsPoints Desk)

  • According to the report by IQVIA, South Korea's pharmaceutical market grew more than expected in the first quarter of the year despite the new coronavirus outbreak, reported The Korea Bizwire.

  • Specifically, domestic sales of South Korean and foreign pharmaceutical firms came to KRW 5.06 trillion in the January-March period, up 5.3% from a year earlier, beating analyst estimates.

  • Sales of prescription medicines expanded 5.5% on-year in the first quarter, with those of over-the-counter drugs climbing 3.2%.

  • "It remains to be seen whether the market may maintain its growth momentum down the road, given the changing situation surrounding COVID-19," the report noted.

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