K-Pop news, videos and photos - WoW!Korea

wowkorea facebookwowkorea twitter  | Tiếng Việt  | bahasa Indonesia  | ไทย  | 簡体字  | 繁体字  | English  | 한국  | 日本

  • Concern about cold medicine shortages due to COVID19 and flu … Promoting drug price hikes = Korea
Concern about cold medicine shortages due to COVID19 and flu … Promoting drug price hikes = Korea
In South Korea, fears of a shortage of cold medicines due to the coronavirus and flu epidemics are growing. In response, the government accepted the demands of pharmaceutical companies and decided to promote drug price hikes.

The "Health Insurance Review and Assessment Service" held the 11th Drug Salary Evaluation Committee (Pharmaceutical Review Board) deliberation on November 17th, and Tylenol 8-hour ER sustained release tablets of "Aceto ARMY Nophen 650mg", a cold medicine ingredient, etc, announced that it has accepted applications for drug upper limit adjustment for 19 items.

The specific increase rate will be determined through negotiations between the National Health Insurance Corporation and pharmaceutical companies, and after a report by the Ministry of Health and Welfare's Health Insurance Policy Deliberation Committee, the increase in cold medicine prices will be finalized by a public notice of the Ministry of Health and Welfare.

The drug price hike has been promoted amid growing concerns about a 'twindemic', which means the simultaneous epidemic of influenza and corona, and concerns about a shortage of cold medicines due to increased demand.

The pharmaceutical industry has demanded higher drug prices to meet increased demand by increasing production through drug price hikes.

However, some point out that it is difficult to increase the production volume in a short period of time even if the drug price is raised with the scale of the current production facilities, and that the price hike may only benefit pharmaceutical companies.

In preparation for the shortage of cold medicine, the government plans to crack down on unfair practices of drug wholesalers and pharmacies. In preparation for the cold medicine shortage, the Ministry of Health and Welfare decided to strengthen crackdowns on unfair practices such as hoarding and holding back of sales by drug wholesalers and pharmacies by March next year and will supply related pharmaceutical companies and wholesalers as soon as possible. A breakdown report was requested.

In the case of Acetoaminophen 650mg for prescription drug dispensing, the supply is not increasing enough and some small pharmacies are not properly supplying it because it is less profitable than the over-the-counter product with the same ingredients. The problem of supply and demand imbalance is also emerging.

Of course, there are concerns that drug price adjustments will be promoted, and expectations for higher prices could lead to hoarding and tight selling at the wholesale stage.

The Ministry of Health and Welfare will continue to monitor the supply status of the relevant items through the Health Insurance Review and Assessment Service until March next year, and will request local governments to report or take administrative action if violations are confirmed.

The Ministry of Health and Welfare said, "Purchasing excessive amounts of drugs by wholesalers and pharmacies or withholding sales to increase prices is prohibited by the Pharmaceutical Affairs Law. A fine of up to 1.04 million won and a business suspension of up to one year can be imposed."

When pharmaceutical companies and wholesalers take advantage of product shortages to sell the relevant products, they plan to ban or sanction unfair acts such as tying other products together after receiving information from the Pharmacists Association.

In addition, in order to quickly grasp the supply and demand status of Acetoaminophen 650mg for pharmaceutical use, the government will require manufacturers and wholesalers to report the supply details of this product from the current 'within a month' to 'shipment' by March next year.

Published : 2022/11/19 09:32 KST

Like if you like it ♪

Check WoW!Korea for breaking and latest K-Pop's news, videos, and photos now!
Copyright(C) 2004-2023 AISE Inc. All Rights Reserved.