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'Preferential drug pricing for K-made new drugs' revision

By Lee, Jeong-Hwan | translator Hong, Ji Yeon

24.10.24 05:50:39

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68% drug pricing increase to be applied to national essential medicines for up to 10 years¡¦to provide a preferential measure for innovative-type pharmaceutical companies

Rep. Baek Jong-heon says "MOHW must foster growth of the biopharmaceutical companies in KOR"

 ¡ãRep. Baek Jong-heon

It was pointed out that upon receiving criticism that the recently announced amendment plan for drug pricing system lacked provision to provide preferential drug pricing for new drugs made by Korean pharmaceutical companies, the Ministry of Health and Welfare (MOHW) posted an administrative notice detailing amendment to be made for 'Pharmaceutical Approval and Adjustment Criteria.' Previously, the amendment plan had been criticized for making a reverse discrimination against Korean pharmaceutical companies.

According to the MOHW's notice, the amendment plan included implementing a 68% drug pricing increase applied to national essential medicines for up to 10 years (5+5 years), preferential drug pricing

Lee, Jeong-Hwan(junghwanss@dailypharm.com)
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