Posted by Michael Wonder on 15 Apr 2021
Drug pricing policy in South Korea revised to ‘tiered pricing system’
14 April 2021 - The government announced a plan to restructure the generic drug pricing system with the main goal of switching from the existing ‘same medicine, same price’ principle to a ‘tiered drug pricing system’ at the end of March 2019.
Eventually, the drug pricing rule was revised and implemented on 1 July 2020.
Under the revised drug pricing framework, it is expected that later generic entry will be discouraged and competition for patent challenges will intensify, especially for blockbuster drugs.
