CPhI Korea Launches as South Korea Commits to Extensive Drug Developmen?t During Next 5 Years

UBM Live has  announced the latest addition to its global pharmaceutical events portfolio, CPhI Korea 2014, which will take place on 2–3 September 2014 at the COEX in Seoul, South Korea.

South Korea is now an undisputed member of the “developed pharmaceutical market” and home to the fastest growing industry within the developed ‘league’ according to IMS Health, which reported the country’s double digit growth rate during the last 5 years and predicted a CAGR of 6.5% until 2015. Furthermore, South Korea is ideally located to attract key delegates and industry leaders from Japan, China, India and Hong Kong. The event will act as a centralised hub for regional drug manufacturers to meet with global suppliers of raw materials, machinery, packaging solutions and contract services, as well as attracting visitors from the region looking for suppliers and manufacturing partners to bring cost-competitive pharmaceuticals to their individual markets.

The South Korean Government has affirmed its commitment to driving pharmaceutical R&D and innovations, with a clear “Pharma 2020 vision”. By 2020, the country will have invested $8.9 billion into drug development, whilst setting out clear goals and projects including open innovation through enlargement of R&D and the collaboration of pharmaceuticals and finance to fund the extensive drug development plans.

CPhI Korea will be co-located with ICSE for contract services, providing an integrated platform for facilitating and encouraging the innovation and growth plans set out by the country. The two-day event will include a conference programme emphasising CPhI Korea’s role in enabling international and domestic business.

Highlights of CPhI Korea 2014:

•       Co-location with ICSE providing services and opportunities through the whole supply chain

•       Conference programme featuring opinion leaders from Government, academia and industry- with workshops, round tables and plenary sessions

•       A buyers programme to deliver high-value buyers in growing markets

•       Potential one-to-one partnering for visitors and exhibitors to provide new leads and business partners

Chris Kilbee, Group Director, CPhI Pharma Portfolio, commented on the launch of the event: “CPhI Korea will provide an unrivalled opportunity for pharmaceutical industry delegates, stimulating key growth as the country strives to develop multiple drugs over the coming years. South Korea’s commitment to R&D within the industry should be a benchmark model for other economies to follow, particularly as the healthcare landscape continues to rapidly change and healthcare demand is on the rise. The government support of R&D represents a remarkable growth opportunity and the launch of CPhI Korea will facilitate the innovations we are likely to witness as part of the country’s 5-year plan. CPhI Korea is launching at a boom time in the region and provides an unrivalled platform for domestic and international pharma companies to augment the next stage of development in this rapidly maturing and dynamic market.”