trending Market Intelligence /marketintelligence/en/news-insights/trending/GVbRc-PvROMCjLNDmlPY2Q2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Japan to conduct annual reviews of drug prices

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective


Japan to conduct annual reviews of drug prices

The Japanese government unveiled plans to review drug prices annually, instead of its current process to review prices every two years, in a bid to cut healthcare costs, Reuters reported Dec. 20.

In addition, all prescription drugs will now be subject to the review. Previously, the government only reviewed prices of drugs whose official price differed widely from the price paid by wholesalers, according to Reuters.

The next review will reportedly take place in 2018, and annual reviews will commence thereafter.

Japan's decision comes after the recent proposal of drug price reforms by advisers to Prime Minister Shinzo Abe. The reforms also follow the government-mandated price cuts to Bristol-Myers Squibb Co.'s cancer drug Opdivo and Gilead Sciences Inc.'s hepatitis C medicine Sovaldi.