|New Pricing System in Korea
New drug pricing system took effect on October 1. Ministry of health and welfare wants to eradicate illegal rebate and keep drug distribution transparent in order to reduce burden of people.
So if hospital or pharmacy buy drugs cheaper, they can take 70% of difference between the highest price and actual buying price. And this leads to lower the patient’s burden.
Ministry of health and welfare said that if this new pricing system is settled, hospital and pharmacy can get advantage officially and they will declare buying price transparently, and finally it will help to make drug distribution transparent.
Also they prospected that this system will change the pharmaceutical industrial structure from sales competition which is based on illegal rebate to product competition based on R&D.
And Ministry of health and welfare will endeavor to understand the actual dealing price in accordance with new pricing system.
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