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IRP Country Spotlight Reports - South Korea

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  • 7 Pages
  • May 2020
  • Region: South Korea
  • Global Pricing Innovations
  • ID: 5304504
International Reference Pricing (IRP) is the most common mechanism used by payers around the world to set the price of a drug. The price is derived by benchmarking or referencing prices from a basket of countries. IRP rules are interconnected and a price reduction in one country may impact diverse countries across different regions. Awareness of the impact of IRP across the life-cycle of a medicine is an absolute must for companies.

IRP Spotlight reports provide customers with the understanding of the inter-connectivity of this pricing method on a per country basis allowing you to make the most informed IRP decision for your products.

Individual Country Spotlight Reports: This report provides detailed deep-dive into the applicable IRP rules within a specific market as well as the formally referenced markets via the following sections:

Country IRP matrix: This section provides a visual representation of which countries are referenced by the primary country along with which countries reference the primary country.

Key stakeholders, reference rules and process overview: This section provides insights into the key stakeholder agencies in the primary country and their responsibilities in the PRMA process. The IRP reference rules lays out how the price of a therapy is calculated with the country scope used, along with how frequently IRP is employed in the drug lifecycle and the key dates in the process

Closer look at countries referencing the primary country. This section provides summary insights around pricing decision determinants, referencing rules and key stakeholders in the process within each country