WASHINGTON--(BUSINESS WIRE)--Today BIO joined a coalition of organizations urging the Government of Japan to maintain the established reimbursement pricing structure for pharmaceuticals and medical devices.
While the Abe Administration continues to take impressive steps to promote the domestic and foreign innovative healthcare industry in Japan over the past several years, its proposal to change the schedule for reimbursement pricing to an annual system poses a danger to investment and innovation across the entire healthcare spectrum. Such a change would impede innovation and delay access by Japanese patients to lifesaving and enhancing healthcare innovation.
The current biennial repricing system has effectively controlled costs for over two decades and provided Japanese patients with early access to the newest and most innovative medical technologies being developed around the world. This proposal would counter Prime Minister Abe’s ongoing efforts to strengthen the Japanese economy and promote a vibrant healthcare industry.
BIO shares this position with our coalition partners: the American Chamber of Commerce in Japan (ACCJ), the European Business Council (EBC), the American Medical Devices and Diagnostics Manufacturers’ Association (AMDD), the Advanced Medical Technology Association (AdvaMed), the Pharmaceutical Research and Manufacturers of America (PhRMA), the European Federation of Pharmaceutical Industries and Associations (EFPIA).
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.
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