USA-Japan regulatory reform study welcomed by PhRMA

The annual report to US President George W Bush and Japan's Prime Minister Junishiro Koizumi under the USA-Japan Regulatory Reform and Competition policy Initiative, has been welcomed by the president of the Pharmaceutical Research and Manufacturers of America (PhRMA), Billy Tauzin.

Mr Tauzin said: "PhRMA members apreciate the special focus the report places on regulatory and market access issues related to pharmaceuticals. In particular, we welcome steps taken by the Japanese government to ensure it establishes drug prices in a manner that considers the value of innovation and the need for timely access to pharmaceuticals."

PhRMA's statement included a firm expression of disapproval for Japan's annual price revision system (Marketletters passim). Mr Tauzin said: "we also applaud the US government for its strong statement in opposition to an annual price revision system. This [...] would be inconsistent with Japan's assurances to consider the value of innovation and ensure timely access to life-saving medicines for Japanese patients."