Posted by Michael Wonder on 18 Mar 2019
Chile takes several ‘unorthodox’ steps to push back on drug prices, angering pharma
18 March 2019 - Searching for ways to beat back rising drug costs, the Chilean legislature is advancing three measures — regulating prices, easing the mechanism for issuing a compulsory license, and creating a government web site to monitor pricing —that have alarmed the pharmaceutical industry.
One of the initiatives in particular has drug makers concerned. The proposed law, which last week passed the Health Commission, will allow the government to determine the price of a patented medicine based on whether the buyers have “economic accessibility.”
In other words, if the drug is priced out of reach, the health ministry will have the right to cap its price.
