Korea Pharma is showing strong performance. Following President Yoon Seok-yeol's announcement to strengthen support for the management of the public's mental health, Korea Pharma, which has psychiatric and neurological drugs such as schizophrenia and antidepressants as its main products, is gaining attention.
As of 9:24 AM on the 6th, Korea Pharma is trading at 27,100 KRW, up 4.84% compared to the previous day.
On the 5th, President Yoon announced the so-called 'Mental Health Policy Vision,' which focuses on providing customized mental health management for all citizens throughout their life cycles.
The core idea is to manage the public's mental health issues at the national level. To this end, the Ministry of Health and Welfare reported innovation plans and decided to establish a Presidential Mental Health Policy Innovation Committee to advance the policy.
At the Mental Health Policy Vision Declaration Ceremony held at the Blue House State Guest House, President Yoon declared, "We will no longer treat mental health issues as individual problems but will make them a major national agenda and actively resolve them as a state."
Accordingly, the government will shorten the mental health screening cycle from 10 years to 2 years and expand the screening diseases from depression to schizophrenia and bipolar disorder. Starting next year, the 'National Mind Investment' project will provide psychological counseling to 80,000 people in the medium- and high-risk mental health groups, expanding to 500,000 people by 2027. The Ministry of Health and Welfare has allocated a budget of 386.6 billion KRW for mental health policy projects next year.
Meanwhile, Korea Pharma focuses on psychiatric and neurological drugs as its main products. The company possesses world-class advanced production facilities along with pharmaceutical manufacturing technology.
The company's main businesses are divided into the prescription drug (ETC) sector and the CMO (contract manufacturing organization) sector. Among these, the prescription drug sector has established a multi-product portfolio centered on specialized products such as psychiatric, digestive, and circulatory drugs, securing a stable sales structure. About 80% of the company's sales come from prescription drugs.
In 2020, Korea Pharma signed an exclusive domestic sales contract with Korea Sandoz for 'Mirtax Tablets' and 'Mirtax ODT.' The main ingredient of Mirtax, mirtazapine, belongs to the NaSSA (Noradrenergic and specific serotonergic antidepressant) class. It is used as a first-line treatment for major depressive disorder and improves side effects such as sexual dysfunction, nausea, and vomiting.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
