Japan considering annual drug price reviews

Japan Prime Minister Shinzo Abe said the country needs to fundamentally rethink its policies for revising drug prices, including transparent policies that reflect drugs' cost effectiveness. The comments came last week at Abe's meeting with the Council on Economic and Fiscal Policy.

Pricing reforms will likely include conducting reviews of drug reimbursements annually, rather than every two years, according to Japan Pharmaceutical Manufacturers Association Director of International Affairs Takeshi Shigihara. Under Japan's current national healthcare system, drug prices are set by the Central Social Insurance Medical Council (Chuikyo), with a price review and possible reduction every two years...