'Drug Pricing Emergency Committee' Holds Joint Meeting with Five Organizations to Address Drug Pricing System Reform

The Emergency Committee for Reforming the Drug Pricing System for Industrial Development held a joint meeting on the 20th with five participating organizations: the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, the Korea Bio-Pharmaceuticals Association, the Korea Pharmaceutical Importers and Exporters Association, the Korea New Drug Development Research Association, and the Korea Pharmaceutical Cooperative Association.

At the meeting, CEOs from 37 member companies, including chair companies and board chair companies of each organization participating in the Emergency Committee, attended to share the industry's perspectives on responding to the drug pricing system reform and to discuss directions for joint action going forward.

The Emergency Committee for Reforming the Drug Pricing System for Industrial Development held a joint meeting on the 20th with five participating organizations: the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, the Korea Bio-Pharmaceuticals Association, the Korea Pharmaceutical Importers and Exporters Association, the Korea New Drug Development Research Association, and the Korea Pharmaceutical Cooperative Association. Korea Pharmaceutical and Bio-Pharma Manufacturers Association

No Yeonhong, Co-Chair of the Emergency Committee, stated, "Today's meeting is not only to discuss response measures for the committee, but also to gather wisdom for promoting the sustainable growth of the pharmaceutical and bio industry. We will unite the industry's voice to convey the urgency of the field to the government, and use the concerns and alternatives raised today as momentum for future responses."

Yoon Woongseop, also a Co-Chair of the Emergency Committee, said, "We will fully listen to opinions from the field and reflect them in detailed implementation plans. As we are working with a sense of urgency and actively responding, if you trust and support the Emergency Committee, we will ensure the pharmaceutical and bio industry achieves the best possible outcome."

Ryu Hyungseon, Vice Chair of the Emergency Committee, emphasized, "It is important for our industry to actively inform opinion leaders and the public about our contributions and efforts for patients' health and lives, to broaden consensus. We also need to effectively communicate the industry's position through various debates and forums held at the National Assembly and elsewhere."

During the meeting, participants reviewed the progress made so far in responding to the drug pricing system reform. There was a lively exchange of opinions focused on the structural contradictions and limitations of the drug pricing reform plan, the social and economic value of the pharmaceutical and bio industry, and the social ripple effects such as instability in the supply of medicines due to price reductions.

In particular, Cho Yongjun, Vice Chair of the Emergency Committee, requested, "The labor-management field meeting hosted by the Emergency Committee, to be held at the Hyangnam Pharmaceutical Complex on the afternoon of the 22nd, is an important opportunity to directly assess the impact of the drug pricing system reform on the industry and to convey the industry's voice. I ask that company representatives from each organization actively participate."

The participants of the joint meeting agreed that, considering trends in government, the National Assembly, and public opinion, there is a need for prompt and efficient responses by issue and timing. They decided to entrust the preparation of concrete action plans and all matters related to government consultations to the Emergency Committee's leadership, including the co-chairs and vice chairs.