"Red-Oceanisque" Local Cephalosporin Market

[English Yakup]

Many of local, medium-sized pharma companies are rushing to produce cephalosporin antibiotics, with hope to gain larger shares of the domestic cephalosporin market. 

The market size is estimated around 500 billion won (KRW), and is expected to become more competitive than ever towards later this year.

The local market for cephalosporin antibiotics is gaining momentum with medium-sized drug manufacturers, who all seek opportunities in the niche where larger firms have been struggling.

However, the late-comers’ sales have not been as impressive, due to oversupply and "red-oceanisque" competition.

“Local cephalosporin producers should go overseas, in order to make harbinger strides into foreign countries, particularly when the domestic cephalosporin market shows clear signs of reaching saturation point,” said an official at the Korea Food and Drug Administration (KFDA).

Companies also recognize themselves, that the source for new cash cows need to be discovered outside national borders, while their trite approach of "Keep Up with the Kims" be discouraged. 

“You can guess the reason - the saturated Korean market is losing steam. Without making aggressive moves offshore, they cannot garner profit streams down the road,'' the official added.

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