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South Korean Drug Makers Launch Cosmetics Brands To Grow Business

December 15, 2014: 12:00 AM EST
Pharmaceutical companies are launching their cosmetics brands to help grow their business in South Korea. Factors driving the trend are the government's move to impose tougher sanctions against drug companies' illegal dealings with doctors and hospitals and the decline in prices of pharmaceutical products. Sales of cosmetics in drugstores are forecast to reach 400 billion won, prompting Ildong Pharmaceutical to launch its GOU:E brand in July 2013 and Hanmi Pharm its Clear Therapy brand in November 2014.
Park Ji-won, "Pharmaceutical firms tap into cosmetics products", The Korea Times, December 15, 2014, © koreatimes.co.kr
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