S. Korea Report Accuses Generics Makers Of Overpricing
This article was originally published in PharmAsia News
Executive Summary
South Korea's drug authority accused the country's drug makers of inflating the prices of their generic drugs. The Korea Development Institute said in a report that some drug makers sell generics for prices close to the price of the brand-name drug even though the generic makers experienced no development costs. In some cases, it said, the generic price is as close as 80 percent of the brand price. A KDI researcher attributed some of the pricing to government controls that set prices based on hospital negotiations with drug makers who give kickbacks to the hospitals. The reported noted that 80 percent of drugs sold in South Korea are generics. (Click here for more
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