With the effectuation of the Korea-US FTA(Korea-US Free Trade Agreement) most parts of the Korean Industry will be influenced. Especially Korean pharmaceutical industry where the generics occupied major portion in the market is considered to have a se...
With the effectuation of the Korea-US FTA(Korea-US Free Trade Agreement) most parts of the Korean Industry will be influenced. Especially Korean pharmaceutical industry where the generics occupied major portion in the market is considered to have a serious damage. To minimize the damage to Korean pharmaceutical industry caused by Korea-US FTA, the proper fallback should be prepared on a nationwide scale, by industry as well as by Korean government.
In this study I examined articles of Korea-US FTA concerning about medicines, and examined what should be prepared to satisfy these articles by Korean government and Korean pharmaceutical industry. For this purpose I looked into the Hatch-Waxman Act containing the patent term restoration and ANDA(abbreviated New Drug Application), and Indian patent law containing the article about supporting the generic industry. Finally I suggested some ideas which would be necessary for lawmaking to minimize the damage to Korean pharmaceutical industry caused by Korea-US FTA and to support Korean pharmaceutical industry for the development.