Korean Health Ministry's New Pricing System Draws Industry Criticism
This article was originally published in PharmAsia News
SEOUL - South Korea's Ministry of Health and Welfare held a two-day forum offering a rare opportunity for Korean and foreign pharmaceutical officials to offer comments on the ministry's controversial new pricing system
You may also be interested in...
Korea Health Ministry Committee Approves New Price-Volume Formula For Drugs Over Industry Opposition
A new price-volume formula in Korea could lead to additional price cuts on blockbuster medications and lead to some compounds not being listed for government reimbursement after implementation next year.
Industry expects proposed price volume agreement revisions would cut prices for drugs that exceed year-on-year sales increases of only $4.4 million.
To maintain a stable supply of some multinational products for patients with rare diseases, the health ministry has extended its pilot refund system for three more years until 2015.