Singapore no longer a price taker in the drug market

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How Singapore is no longer a price taker in the drug market

The Agency for Care Effectiveness has helped Singapore reduce overpayment and save over $400 million. The Straits Times looks at what the agency does.Till recently, Singapore was a dream market for pharmaceutical companies.Singapore did not have a mechanism to assess the relative value and real benefits of new drugs, in order to negotiate for a fair price before subsidising a drug.

He said that if nothing was done, insurance premiums could soar to a point where many people who need coverage would no longer be able to afford it.Agency for Care Effectiveness staff was offered triple her salary - but turned it down She and her colleagues at the Agency for Care Effectiveness are highly sought after by the industry for their technical knowledge and any insider information they may have - which the companies hope might help them get their drugs approved faster, or accepted at a higher price.

 

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