[Ip-health] S. Korea, U.S. conclude sideline FTA drug talks in Seoul

[heeseob nam]

In addition to what is said in the following news article, I heard
that US demanded A-7 average price for innovative drugs and all of the
patented drugs should be recognized as the innovative drugs.

Korean negotiating team has a position that the patented drug does not
necessary mean the innovative drug and the price for the innovative
drugs may be OCED average price.

http://english.yonhapnews.co.kr/Engnews/20061113/640000000020061113172927E0.html

SEOUL, Nov. 13 (Yonhap) -- South Korea and the United States on Monday
concluded the latest talks on drug policy issues surrounding an
envisioned bilateral free trade agreement (FTA), South Korean
officials said.

At the two-day meeting held at a Seoul hotel, officials in charge of
pharmaceutics policy from the two countries discussed pending issues
to coordinate differences on Seoul's plan to revise its drug policy.

Seoul plans to amend the country's drug insurance policy so new drugs
will not automatically be placed on a list of products for which
people can be reimbursed under insurance policies.

In the revision, new drugs must be strictly tested and approved by the
Health Ministry within a year to ensure cost efficiency for
reimbursement. It aims to encourage pharmaceutical producers to come
up with ways to offer effective drugs at cheaper prices.

While acknowledging Seoul's intentions, Washington has complained that
the revision could become disadvantageous for multinational
pharmaceuticals' earnings.

During the sideline meeting held between the fourth and fifth round of
general talks, Washington officials continued to push for the
establishment of an independent agency to which companies can file
their objections, according to the officials.

They also called for South Korea, the seventh-largest trading partner
of the U.S., to acknowledge the value of the breakthrough products of
multinationals, the officials said.

Seoul officials stressed that they will not give into U.S. demands to
the extent of having to twist domestic policies for their sake, they
added.

The two countries are set to hold a fifth round of free trade talks
from Dec. 4-8 at the Big Sky Ski Resort in the U.S. state of Montana.
They aim to conclude a deal by early 2007.

odissy@yna.co.kr

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HeeSeob Nam
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