The Ministry of Food and Drug Safety (MFDS) announced that it will provide the status of medical product licensing for March 2024 to enhance transparency and reliability in the approval process.
In March, a total of 166 medical products were approved, consisting of 72 pharmaceuticals, 3 non-prescription drugs, and 91 medical devices.
This represents 85% of the average monthly approval count of 195 items from last year. The number of approvals for pharmaceuticals and non-prescription drugs was lower than last year's monthly average, while there was little difference in the number of medical device approvals.
Compared to the approval count of 121 items in February, there was a 37% increase, particularly with pharmaceuticals showing a significant 279% increase compared to February.
The MFDS stated that it will continue to proactively discover and disclose information of high public interest, such as the status of medical product approvals on a regular basis. It also emphasized its commitment to swiftly approving safe and effective products based on government innovation, in order to continuously expand opportunities for patient treatment.
CONTACT US
📧 forest.lee@gca-kr.com
