During the last round of price cuts, Chinese drug prices have fallen about 45%, and price reductions have affected close to 300 drugs. In mid-June, China’s National Healthcare Security Administration (NHSA) laid out certain new documents which outline its rules for inclusion on... Read More
In the past, Japan has adjusted drug prices every two years. However, in 2022, the Central Social Insurance Medical Council known as Chuikyo had its first off-year re-pricing. In 2023, Chuikyo will have its second off-year repricing which will take effect in... Read More
RWE or real-world data are now becoming more important for drug and medical device approvals and reimbursement in China. Since 2019, when Hainan Island released regulations emphasizing the value of RWE, similar RWE regulations have also been issued by the NMPA for... Read More
Opportunities in China for novel drugs will continue to grow despite recent NRDL price cuts. For example, Novartis sales in China are close to $3.1 billion a year, and last year sales grew by double digits. 2025 sales are expected to top $4.2 billion... Read More
In the past, hospitals made money in China by marketing up drugs, devices, procedures, and doing many diagnostic tests. Those days are over. As mentioned in our previous newsletters, China’s Volume Based Procurement (VBP) has cut the reimbursements for many high priced... Read More
Reimbursement for medical devices in Japan is determined by functional pricing and foreign reference pricing. Every 2 years the Japanese government issues new medical device pricing in April. This year, the reimbursement for their foreign reference pricing formula will be reduced as... Read More
Multinational pharmaceutical firms are taking advantage of fledgling low-cost commercial insurance initiatives in China to more readily access the country’s vast and rapidly growing market for their products—and to price them more competitively. Under strict eligibility rules on pharmaceuticals and medical... Read More
The government of South Korea is beginning to offer insurance reimbursement for the use of several ultra high-priced drugs, a development that could be both lucrative for pharmaceutical companies and provide relief to Korean consumers. Pharmaceutical treatments, under review by Korea’s Health... Read More
Prices of drugs sold in China will drop by 61.7% on average this year, as the latest update to China’s National Reimbursement Drug List (NRDL) goes into effect. But while the price cut—the most significant slash since 2017 — is a blow... Read More
A raft of changes endorsed in December by Japan’s key policy-making body on drug and medical device pricing would reform the costs of healthcare products in ways designed to reward innovation and stabilize pricing and supply. But the reforms, set to go... Read More