Korea’s Government-Funded Venture into Oncology
National OncoVenture (NOV) is Korea’s Ministry of Health and Welfare funded oncology drug development program to nurture oncology innovation in the country. To maintain high access and limit costs of…
Address: Seoul Namdaemunno 5 84-11 bungee Yonsei Foundation Severance Building, 18th floor (Right) 100-753 ,Republic of Korea
Tel: 02) 768-9000/9114
Novartis Republic of Korea is a 500-employee strong organization that registered a turnover of US$294 million in 2007 (272 billion won) and is dedicated to marketing, sales — and research. Headquartered in Basel, Switzerland, the company was created in 1996 through the merger of two former Swiss giants in the pharmaceutical field, Ciba-Geigy and Sandoz. The history of Novartis in Republic of Korea began in 1984 with the arrival of this latter entity. Today, the company maintains a presence through four divisions: Pharmaceuticals; Vaccines & Diagnostics; Sandoz Republic of Korea (a separate legal entity), the only multinational generic drug company in Republic of Korea and the result of rebranding effort to give the Sandoz name a new identity as a generics portfolio; and Consumer Health, which deals with over-the-counter healthcare and lifestyle products such as CIBA Vision (also a separate legal entity) contact lenses.Major products of Novartis Republic of Korea include hypertension treatments Diovan, Co-Diovan, and Exforge, this latter in copromotion with Pfizer; Glivec, a drug to combat chronic myeloid leukemia (CML); Neoral, an immune system suppressant for use with transplant patients; Lescol, a preparation to treat hyperlipidemia; Femara, to prevent the reoccurrence of breast cancer following surgery; and new products Lucentis used to treat wet age-related macular degeneration (AMD), a sight-degeneration condition, Exelon Patch (Alzheimer’s dementia) and Aclasta (osteoporosis).
National OncoVenture (NOV) is Korea’s Ministry of Health and Welfare funded oncology drug development program to nurture oncology innovation in the country. To maintain high access and limit costs of…
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