Japan to Lower Drug Prices to Reduce Medical Costs

Politics Lifestyle

Tokyo, Dec. 17 (Jiji Press)--Japanese Finance Minister Taro Aso and health minister Norihisa Tamura agreed Thursday to reduce state-set prices of prescription drugs if their actual costs are over 5 pct lower.

The price cut is expected to curb the government's spending on medical costs by about 100 billion yen.

Reduced prices will cover about 70 pct of all prescription drugs, lowering medical expenses for prescriptions and prescribed drugs by some 430 billion yen.

The agreement was reached at the two ministers' negotiations on a related funding request under the government's draft budget for fiscal 2021, which starts in April next year.

Meanwhile, Aso and Tamura agreed to raise fees paid to elderly nursing care service providers by 0.70 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press