Posted by Michael Wonder on 31 Aug 2020
‘Korea should introduce indication-specific drug pricing’
31 August 2020 - “Korea must introduce a system to apply different prices for a drug’s multiple indications, to guarantee patients’ access to additional indications.”
Lee Young-shin, CEO of the Korea Research-based Pharmaceutical Industry Association (KRPIA), said so in an interview with Korea Biomedical Review. KRPIA is a group of multinational pharmaceutical firms operating in Korea.
With the arrival of drugs with astronomical prices that cost millions of won per year, the tug-of-war in drug pricing between the government and multinational pharmaceutical companies is intensifying. The government wants to curb increasing drug costs, while multinationals seek to introduce new expensive drugs to the Korean market.
