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Report: Japan drops drug pricing proposals

Japan has appeared to abandon a proposal that would cut the price of prescription medicines in the country, Reuters reported.

The proposal, which was not in the annual policy guidelines approved by Prime Minister Shinzo Abe's Cabinet, was meant to ease the burden on Japan's National Health Insurance system.

It was also part of the country's effort to boost the use of generic drugs to about 80% by September 2020 from 56% currently while saving hundreds of billions of yen every year.