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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Hanmi Pharmaceutical has halted its plan to change the active pharmaceutical ingredient (API) supplier for its blockbuster dyslipidemia treatment Rosuzet, according to an exclusive report by Dailyan.
Park Jae-hyun, chief executive officer of Hanmi Pharmaceutical, told Dailyan that he had ordered an immediate suspension of all work related to switching the drug’s API supplier. The directive effectively stops the company’s controversial plan to replace Rosuzet’s existing raw materials.
Rosuzet, a combination drug containing rosuvastatin and ezetimibe, is one of Hanmi Pharmaceutical’s flagship products, generating annual prescription sales of about 200 billion won ($150 million).
The controversy stemmed from a proposal by the company’s largest shareholder to replace the current API with lower-cost imported raw materials from China as part of broader efforts to improve profitability.
Shin Dong-kook, chairman of Hanyang Precision and the largest shareholder of Hanmi Science, had reportedly pushed for the supplier change in the name of cost reduction and management efficiency. However, Park opposed the move, citing potential risks associated with switching to an unverified source of raw materials.
“Regardless of whether my term as CEO is extended, unverified imported raw materials will not be introduced into Rosuzet simply for economic efficiency,” Park said in response to Dailyan’s inquiry.
He added that the issue was not simply about using cheaper ingredients but about the lack of prior verification. “The concern was that the imported raw material had never been distributed or validated in Korea,” Park said. “I have ordered a halt to all work related to the Rosuzet raw material change, and the process has now been suspended.”
Voices from the healthcare sector also influenced the decision. The Korean Pharmaceutical Association said in a statement on March 5 that changes to pharmaceutical ingredients should not be treated as a simple business decision or cost-cutting measure, as they are directly linked to public health and trust in medicines.
“Such changes must be preceded by sufficient scientific verification and strict evaluation by regulatory authorities,” the association said.
Park also apologized for the confusion caused among healthcare providers and pharmacies.
“I regret the confusion this issue has created in the medical field and pharmacy community,” he said, adding that he appreciated the Korean Pharmaceutical Association for highlighting the quality management philosophy established by the company’s late founder, Lim Sung-ki.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
