Companies / Colombia
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Cost-Conscious Drug Pricing Reforms Approved
September 2006 | Industry NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Colombia's new therapeutic reference pricing system, introduced in July 2006, is set to add significant complexity to the business environment for innovator pharmaceutical firms. Under Circular 2/2006, a special Technical Commission of the Commerce Ministry will directly control the maximum final prices of all molecules that have no chemically identical competitor. The reform is especially likely to make the pricing of patented molecules more