Due to the COVID-19 pandemic several years ago, The Korean Ministry of Food and Drug Safety (MFDS) stopped its on-site inspections of drug maker’s foreign manufacturing plants. In March 2022 however, the Ministry announced that it was going to resume in-person inspections from April to November this year. Around 50... Read More
A unique confluence of key factors fuels China’s leadership and momentum ahead of the US in AI health technology. A combination of massive data availability, low-cost labor to prepare this machine learning information, and the need to offset doctor shortages contribute to growth in this... Read More
Japan is the fastest aging country in the world. With about 125 million people now, their population is expected to decline to 90 million in 25 years. In an effort to increase their population, starting this month, Japan will begin to reimburse... 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
As part of an ongoing crackdown by China on business practices, it says lead to unfair competition, the central government is strengthening law enforcement of monopoly practices in the pharmaceutical industry. The announcement by the ministry of industry and information technology... 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
While Japan used to be the second-largest drug market in the world, it was eclipsed by China a few years ago. In 2004, the Japanese market size was about 13% of the global market but 18 years later, it is only about... 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
A push by Japan to establish an emergency pharmaceutical approval system modeled on that of the United States is moving forward, with legislation to speed the distribution of drugs and vaccines needed to prevent outbreaks of infectious diseases and other public health... Read More