[Ip-health] S KOREAN GROUP TO ASK FOR CHEAPER ACCESS TO NOVARTIS DRUG

[Joana Ramos]

http://www.tradingmarkets.com/.site/news/Stock%20News/1276053/

S KOREAN GROUP TO ASK FOR CHEAPER ACCESS TO NOVARTIS DRUG
Monday, March 31, 2008; Posted: 03:09 AM


SEOUL, Mar 31, 2008 (AsiaPulse via COMTEX) -- NVS | news | PowerRating |
PR Charts -- A South Korean civic group said Monday it would file a
petition with the country's government to cut health insurance subsidies
for a cancer drug of Swiss maker Novartis AG, in a move to lower the
price of the medicine.

Seoul-based Health Right Network, which has successfully led a campaign
to reduce the prices of medicines by multinational drug companies, will
"soon" file the petition with the Ministry for Health, Welfare and
Family Affairs, a group official said.

"The current price of Glivec doesn't fairly reflect changes such as
currency fluctuations and a free trade deal," the official said.

There have been "significant grounds" for Novartis to cut the retail
price of Glivec in South Korea after a free trade deal with the European
Free Trade Association went into effect, the official said.

The free trade pact between South Korea and the EFTA, made up of
Switzerland, Norway, Iceland and Liechtenstein, took effect in September
2006 and slashed an 8 per cent tariff on drug imports.

The Novartis drug costs 23,045 won (US$23.20) per tablet in South Korea
and the price hasn't been adjusted over the past seven years, according
to the civic group.

Glivec's price in South Korea is much higher than in other countries
such as the United States and Taiwan, the group said.

Officials at the Swiss company's Korean unit weren't immediately
available for comment.

In July 2006, a petition by the South Korean civic group lowered the
price of lung cancer drug Iressa of the British company AstraZeneca Plc
to 55,003 won from 62,010 won per tablet.

(Yonhap)

--------------
Joana Ramos, MSW
Cancer Resources & Advocacy
Seattle WA USA
+1-206-229-2420
http://ramoslink.info/
www.bmtbasics.org