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Government considers simpler process for drug pricing
by Eui Kyoung Yoon (ekyeun@dreamdrug.com)
Published : Nov 22, 2014 03:30:17
The Ministry of Health and Welfare (MOWH) suggested that price negotiations with pharmaceutical companies should be skipped if their prices are set at less than 90% of average weighted prices of comparable drugs.

The MOHW had a meeting with Korea Pharmaceutical Manufacturers Association and Korean Research-based Pharmaceutical Industry Association on November 20 to discuss the pricing policy of new drugs.

It plans to release its proposal in December and have a hearing for the next 60 days. It will have an information session about the new pricing rule in March and announce any modification of the proposal after the suggestions collected at the hearing.

The MOHW also considers accepting 100% of average weighted prices for orphan drugs and 95% for pediatric medications as listing prices.
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