Analysing price reductions for anti-cancer drugs in South Korea
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Analysing price reductions for anti-cancer drugs in South Korea The number of price reductions for anti-cancer drugs has increased over recent years in South Korea, report researchers from that country. The researchers examined price reductions for anti-cancer drugs in South Korea over a period of 12 years (from 2007 to 2019) and analysed the factors associated with these reductions. In particular, the various mechanisms of price reduction were examined, including actual transaction price (ATP) investigation, price-volume agreement, expansion of indication or reimbursement scope, voluntary reduction by a manufacturer and price cut at generic entries. The analysis of data for 439 anti-cancer drugs that were newly listed between January 2007 and December 2017 showed that 271 (61.7%) had at least one price reduction over an average of 5.7 years. The number of price reductions increased gradually over the study period. "The various repricing mechanisms worked well," comment the researchers. Among the 271 products with price reductions, the total number of reductions was 500, and the average number of reductions per product was 1.8. The price-reduction rate per 100 product-years was 23, indicating that 23% of all products decreased in price in one year. During the time on the market, the price of the 271 products decreased by an average of 16.3%. The analysis also showed that ATP was the most common mechanism of re-pricing (n = 196; 39.2%), but it only resulted in an average reduction of 3%. Other common mechanisms of price reduction were generic entries (19.2%) and voluntary reduction by a manufacturer (10.2%). Kwon S-H, et al. Price Reduction of Anticancer Drugs from 2007 to 2019 in South Korea: The Impact of Pharmaceutical Cost-Containment Policies. Applied Health Economics and Health Policy : 13 Aug 2020. Available from: URL: https://doi.org/10.1007/s40258-020-00604-6
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PharmacoEconomics & Outcomes News 22 Aug 2020 No. 860
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