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

Abstract The purpose of this study was to investigate the effect of R&D investment and marketing expenses on the performance 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, operating profitability. In addition, the differences between innovative and non-innovative pharmaceutical companies were also examined. Both the amount and the ratio of R&D investment over sales activities were significantly higher in the innovative pharmaceutical companies compared with the non-innovative pharmaceutical companies. In these competitive circumstances, 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&D activities to increase the capabilities for developing innovative new products and future prosperity.