South Korea introduces monthly reporting requirements on drug supplies
This article was originally published in SRA
Executive Summary
A new regulation in South Korea requires pharmaceutical manufacturers, importers and wholesalers (ie suppliers) to report to the Korea Pharmaceutical Information Service the details of their transactions for the supply of medicines - including unit price and quantities - within one month of the products being distributed1. The rule implements amendments to the Pharmaceutical Affairs Law and is expected to contribute to the reduction of medical expenditure, as well as to the establishment of transparent transaction practices by minimising counterfeits, “non-invoice” deals and false claims of reimbursement for expensive drugs.