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국내 제약기업의 연구개발비 및 마케팅 비용이 기업성과에 미치는 영향 연구

The Effects of R&D Investment and Marketing Expenses on the Performance of Korean Pharmaceutical Companies

약학회지 2019년 63권 4호 p.204 ~ 213
정재은 ( Jung Jae-Eun ) - 숙명여자대학교 임상약학대학원

강민구 ( Kang Min-Ku ) - 우석대학교 약학대학
방준석 ( Bang Joon-Seok ) - 숙명여자대학교 약학대학


The purpose of this study was to investigate the effect of R&D investment and marketing expenses on theperformance of the Korean pharmaceutical companies. The top-ranked forty companies in Korea were selected and the 6-year-long data were analyzed to obtain the correlations among R&D intensity, marketing expenses, growth rate, operatingprofitability. In addition, the differences between innovative and non-innovative pharmaceutical companies were alsoexamined. Both the amount and the ratio of R&D investment over sales activities were significantly higher in theinnovative pharmaceutical companies compared with the non-innovative pharmaceutical companies. In these competitivecircumstances, R&D investment is indispensable for the sustainable growth in pharmaceutical companies. In conclusion,Korean pharmaceutical companies as well as government bodies should focus on more intensive and strategic R&Dactivities to increase the capabilities for developing innovative new products and future prosperity.


Pharmaceutical company; R&D investment; marketing expense; company performance; sales growth rate; operating profit
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