All Sandoz products removed from Korea’s reimb list

other than those being sold by Samil Pharmaceutical

All items removed from the reimbursement list as of August...Samil takes over sales of Sandoz’s CNS items including Mirtax

Closed down the Korean subsidiary in June...end of the 20-year imported generic drug company

All products that were registered by Sandoz Korea will be removed from Korea’s reimbursement list.

 

The company had withdrawn from the Korean market in June.

 

With the removal, the name Sandoz will no longer be visible in the Korean market.

 

However, a grace period of 6 months has been granted for some items, and reimbursement for such drugs is valid until February 1 next year.

 

Its CNS (central nervous system) items that have solidified their position in the domestic market will be transferred to Samil Pharmaceutical, and be changed accordingly in the reimbursement list.

 

According to industry sources on the 25th, 18 products from Sandoz Korea will be removed from the reimbursement list as of August 1st.

 

The company had voluntarily withdrawn the licenses of the 18 products.

 

Currently, there are no effective Sandoz products on Korea’s drug approval list.

 

All of them were withdrawn or were deleted in line with the company’s business closure in June.

 

Sandoz withdrew from the Korean market following its spin-off decision made by its parent company, Novartis.

 

Sandoz will be focusing on the biosimilar business in Europe.

 

The license of some of the CNS (Central Nervous System) products sold by Sandoz in Korea has already been transferred to Samil Pharmaceutical.

 

Samil received the sales and distribution rights to the antidepressant ‘Mirtax,’ ‘Sandoz Estical Opram,’ ‘Sandoz Paroxetine,’ the schizophrenia treatment ‘Sandoz Olanzapine Tab,’ and insomnia treatment ‘Sandoz Zolpidem.’ Accordingly, the name of the pharmaceutical company on the reimbursement list will also be changed from Sandoz to Samil Pharm.

 

As a result, no Sandoz products will be left on the reimbursement list.

 

Sandoz Korea had first established its branch in Korea in 2003 as Hexal Korea.

 

Afterward, the company name was changed to Sandoz Korea, and it remained active in the generic market for 20 years thereafter, which is rare for a foreign pharmaceutical company, showing strength in the CNS and anticancer drug markets.

 

Meanwhile, reimbursement for some generic items of its parent company, Novartis Korea, was also removed from the reimbursement list along with the deletion of the Sandoz products.