Japan "best market in the world" for foreign drugmakers

02/22/2013 | Economist (tiered subscription model), The

Japan is enjoying the benefits of changing the way it reviews, administers and pays for drugs in an effort to spur innovation and address rising costs associated with aging. "For foreign [drug] companies, it's the best market in the world right now," PhRMA representative Ira Wolf said. The country has accelerated the review of new treatments, placed the pricing system under review and set a 30% market share goal for generics.

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Economist (tiered subscription model), The

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