Posted by Michael Wonder on 15 Feb 2017
Drug makers riled amid calls for yearly review of drug costs
15 February 2017 - The pharmaceutical industry is protesting a health ministry plan to review government-set drug prices annually, saying the move will stifle the development of new drugs.
A high-priced cancer medication led the ministry to call for annual reviews after slashing the drug’s price by 50 percent last year.
In November, a government panel decided to reduce the price of the drug, sold as Opdivo, amid fears that its widespread use could drain state coffers.
The drug, marketed by Osaka-based Ono Pharmaceutical Co. since September 2014, activates the immune system to fight cancer, unlike conventional drugs that attack cancer cells. Highly effective for some patients, it has been described as a “miracle drug.”
