Posted by Michael Wonder on 22 Nov 2016
Japan eyes annual revamp of drug prices to slash costs
22 November 2016 - Japan plans to annually update government-administered prescription drug prices, looking to enhance the cost savings from the use of generic medicines.
The shift from the current system of revisions every two years will be included in reform plans to be compiled by the government's Council on Economic and Fiscal Policy.
Japan's national health insurance system shoulders a high proportion of medical bills. While overall drug prices have been falling thanks to greater use of generics, price revisions that occur every two years have made it difficult for the government to reap cost savings. Private-sector members of the panel have been calling for annual updates.
