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Pfizer’s breast cancer therapy gains insurance coverage
  • By Marian Chu
  • Published 2017.11.02 16:39
  • Updated 2017.11.02 16:39
  • comments 0

The Ministry of Health and Welfare said Thursday it would grant Pfizer’s breast cancer therapy, Ibrance (palbociclib), insurance coverage, allowing patients to pay about only 5 percent of the drug’s cost.

Source: pharmaphorum

Coverage now implies that Korean breast cancer patients who used to pay around 5 million won ($4,486) per month for Ibrance treatment will pay only 150,000 won ($135) per month, signaling around a 97 percent reduction in medical fees. Health laws in Korea allow cancer patients to burden up to only around 5 percent of cancer treatment expenses.

The ministry said the announcement follows successful negotiations with Pfizer to lower the cost of one capsule from around 210,000 won to 240,000 to 141,280 won. The American pharmaceutical giant had previously created controversy over over-the-top pricing for its drugs that led to an outcry among breast cancer patients and their families. Reimbursement will apply at the new discounted price, the ministry said.

Related : Regulators deem Pfizer’s price for cancer therapy too high

The ministry also announced they would not grant insurance coverage to Hanmi Pharmaceutical’s non-small cell lung cancer (NSCLC) treatment Olita (olmutinib), citing “uncertainties” over when the phase 3 trial will be complete. Olita is the first domestically produced new drug to treat NSCLC patients. It gained conditional approval status based on its ongoing phase 3 tests, the agency said.

“Clinical trials fall under the Ministry of Food and Drug Safety’s jurisdiction, but there is a possibility that [Olita’s] phase 3 trial will be delayed,” a ministry official said. “Although it may end by June 2020 as planned, there were some questions of whether the insurers will deal with the uncertainty of the completion date.”

The ministry will ask the health insurance service and the pharmaceutical company to set an exact date of completion, which will be finalized by the insurance committee during the next round of discussions, it said.

yjc@docdocdoc.co.kr

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