Posted by Michael Wonder on 20 Feb 2025
Korea to implement new drug pricing policy that rewards innovation
20 February 2025 - The Ministry of Health and Welfare on Thursday announced a significant policy change in pharmaceutical pricing that will take effect in March, aimed at rewarding innovation in new drugs and ensuring a stable supply of essential medicines.
The new policy, officially named "Measures to Improve Drug Pricing Systems to Reward Innovation and Strengthen Health Security," will be implemented after more than a year of refinement following its initial proposal by the government's Bio-Health Innovation Committee in December 2023.
