, Taiwan

Taiwan's novel pharma products hit by low reimbursement prices

The low rates are discouraging the launch of new innovative products, insiders say.

While innovation is recognised in Taiwan, novel pharmaceutical products in the country will continue to see constraints to their growth prospects, due to the impact of the insurance system on drug prices, especially for new and innovative medicines, according to Fitch Solutions.

Taiwan has raised its health insurance premiums from 4.69% to 5.17% and supplemental premiums from 1.91% to 2.11%, informed by a rise in elderly population. Between 2000 and February 2021, the percentage of the population over 65 nearly doubled from just under 9% to 16% while the proportion of 0-14 year olds nearly halved from 21% to 12.5%.

Still, the report noted that reimbursement prices in the country tend to be much lower than in OECD countries because of the government’s single-payer status, and the hospitals typically negotiate with the pharmaceutical companies for discounts. This discourages the launch of new innovative products in Taiwan.

For instance, two medications recently left the market. A pharma company announced that it will stop selling the antidepressant Prozac as of April 2019, whilst another ceased providing the antibiotic Tienam.

“Another impact of the low reimbursement prices is that new drugs tend to be launched in Taiwan much later than certain other markets,” the report added.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Health Care Asia Magazine in your inbox

Find out who won at this year's Healthcare Asia Awards and Healthcare Asia Pharma Awards 

The event was held via video conferencing that started last 15 April.

What investment opportunities await for India’s health-tech space?

Before the pandemic, the industry focussed on wearables, lifestyle-linked problems, and more.

Singapore’s Tan Tock Seng Hospital closes wards to visitors

Two patients and two staff were infected by COVID-19.

Hygeia Healthcare buys 100% stake in Etern Group for $268m

The acquisition indirectly holds 98% of Suzhou Yongding Hospital in Jiangsu.

How reach52 bridges the gap in healthcare with tech

The unique startup aims to connect to 250 million individuals across the globe by 2030.

He Health bags internet hospital license in China

The online platform offers services such as men’s health consultations.

Indonesia's telehealth platform Halodoc bags $80m in funding

The funds will be used to deepen its penetration in key healthcare verticals in Indonesia.

South Korea eases requirements for drug imports

Pharmaceutical companies could benefit from the government’s drive to reduce regulatory uncertainty.

Taiwan's novel pharma products hit by low reimbursement prices

The low rates are discouraging the launch of new innovative products, insiders say.

Japan's liver cancer surveillance program hailed as world's best

The country established the programme for early detection of HCC in the 1980s.