22 September 2017 - Japan will weigh the concerns of U.S. drug firms in its efforts to complete by year-end a drastic revision of its drug-pricing system, aimed at reining in medical spending and cutting the public burden, the health minister said on Friday.

Japan is battling to cut the annual increase in welfare spending to around 500 billion yen ($4.5 billion) in the next fiscal year, and drug price cuts have a key role in the ministry’s strategy.

Katsunobu Kato said he would back fiscal reform by sticking with a cap on increases in social security spending to fund services for Japan’s fast-ageing population.

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