Value of New Medicine

Innovative new drugs extend life, improve quality of life, and reduce total health care costs.

In addition, the pharmaceutical industry creates high-quality jobs and high value added as the new growth engine of the fourth industrial revolution.

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Social Value

‘Life Prolonging’ and Improving Quality of Life

“New drug, contributing on patients worldwide to live longer, healthier and more productive life”

It is the age of new drug could cure diseases which took countless lives without the right cure

Pharmaceutical R&D has dramatically improved the lives of patients as well as reduced death rates. The study said that the average life expectancy increased by 1.96 after NCE. And the result covers 52 nations including Korea and US, from 1986 to 2000. It could be concluded that new drug launches accounted for 13% of the 1986-2000 increase in longevity1.

Extension of life through innovative new drugs delivers significant socio-economic benefits to society. The value to an entire nation when the death rate is reduced by 1% is estimated to amount to a maximum of approximately KRW 126 trillion. The economic value increase in Korea experienced due to the decrease in the mortality rate between 1990 and 2010 is estimated to be between approximately KRW 940.2803 trillion and KRW 232S.1542 trillion.

The effect of launching of new drug on prolonging life expectancy

Social economical benefit of prolonging life expectancy by innovative new drug

After 1991, when the death rate by cancer reached the peak worldwide, launching of new anti cancer treatment contributed to significantly dropping death rate3, which also resulted in two out of three cancer patients manifesting minimum fiveyear survival rate.

Due to a new drug development, one of major incurable diseases, hepatitis C had its cure rate increase up to by 133%. Even before 20 years ago, the cure rate of hepatitis C was only about 41% for a year of treatment, but now the rate reaches up to 95% to 96% for two to three months of treatment.

Rate of decrease of cancer death rate(%, 1991-2014)

Cure rate of hepatitis C(%)

With innovative treatment, cancer patient could return to their workplace even after being diagnosed with cancer

Four out of five cancer patients worldwide were able to return to their workplaces even after being diagnosed with cancer due to innovative anti cancer treatment.

According to cases from Japan, France and the Netherlands, about 80% of cancer patients were able to return to their workplace within a year.

  1. The Netherlands | 83% of patients diagnosed with head and neck cancer returned to their workplaces, and mostly they returned in about 6 month after treatment
  2. France | 82% of female workers diagnosed with breast cancer returned to their workplaces after 10.8 months of sick leave
  3. Japan | 81% of cancer diagnosed patients returned to workplaces within 12 months after their first day of sick leave