South Korea exports of medicines and vaccines last year rose 30.5 percent on year to a record-high of $4.07 billion, led by biological products.

According to data Thursday released by the Ministry of Food and Drug Safety, exports of biological agents gained 29 percent on year to $1.36 billion to take up more than a third of the total pharmaceutical shipments.

Korea still imports more than it exports on the medicine front. But in biopharmaceuticals, it posted a surplus of 368.7 billion won ($328 million) last year. The surplus figure more than doubled from 2016.

The landmark achievement was driven by Celltrion’s two biosimilars, Remsima and Truxima, which took up 67 percent ($912.75 million) of the total exports of biological products.

Botulinum toxin exports amounted to $119.5 million last year, doubling growth for two consecutive years.

Output of pharmaceutical products in Korea came to a record 20.35 trillion won last year, up from 18.8 trillion won in 2016. Celltrion was the biggest producer of medicinal products worth 902.3 billion won, up 110.6 percent from 2016, followed by Hanmi Pharm (759.6 billion won), CKD (717.8 billion won) and Daewoong Pharm (668.2 billion won).

By Seo Jin-woo and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]