The Korean Journal of Health Service Management (보건의료산업학회지)

Korea Society of Health Service Management (보건의료산업학회)
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Study on Medicine Related Policies for Management Strategies and Performances of the Pharmaceutical Industry

제약산업의 경영전략, 경영성과에 의약품관련정책이 미치는 영향에 관한 연구

  • Jung, Jae-Hoon (Department of Medical Industry Management, Pusan National University) ;
  • Cho, Duk-Young (School of Medicine, Pusan National University) ;
  • Choi, Suhe-yong (Department of Business Administration, Pusan National University)
  • 정재훈 (부산대학교대학원 의료산업학과) ;
  • 조덕영 (부산대학교 의학전문대학원) ;
  • 최수형 (부산대학교 경영학과)
  • Received : 2015.08.27
  • Accepted : 2015.11.23
  • Published : 2015.12.31
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Abstract

Objectives : The aim of this study was to investigate the effect of various Republic of Korea policies, including the medicine cost rationalization policy implemented By investigating the management strategy/performance changes of the industry caused by such policies. Methods : Pharmaceutical companies listed on the national stock exchange and the KOSDAQ were examined for 10 years from 2004 to 2013. Their financial statements were collected and market changes before and after drug price policy implementations were compared. Results : From the result of this research, among the medicine related policies, the drug price rationalization policy was found to have a significant effect on business management strategies in terms of safety, profitability and growth potential after its implementation. After the drug pricing transparency policy was implemented, management strategies were affected significantly in terms of safety and profitability. Conclusions : As a result, all of the medicine related policies were found to have regulatory effects. Based on these findings, implications, research limitations and future study plans are presented.

Keywords

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