JW Shinyak, 56 Pharmaceutical Items Suspended from Sale for 3 Months

JW Pharmaceutical's affiliate JW Shinyak announced on the 23rd that it has been suspended from selling 56 pharmaceutical items for three months.

Earlier, an investigation by the Ministry of Food and Drug Safety revealed that JW Shinyak provided economic benefits worth approximately 800 million KRW to medical institutions from 2013 to 2019 to promote the sales of pharmaceuticals such as 'Ailian Eye Drops.'

Accordingly, the Ministry imposed the suspension on JW Shinyak on the 23rd of last month, and JW Shinyak will be subject to the suspension from the 7th of this month until January 6th of next year.

The sales revenue of the 56 items last year amounted to 35.1 billion KRW, accounting for about 33.7% of JW Shinyak's total sales last year.

JW Shinyak stated, "We will comply with relevant laws and regulations and do our best to prevent recurrence."