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KMID : 1170320170230010071
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Korean Journal of Health Economics and Policy
2017 Volume.23 No. 1 p.71 ~ p.95
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Uncertainty and Policy Concerns on Pharmaceutical Sector in the Trump Administration
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Son Kyung-Bok
Lee Tae-Jin
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Abstract
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President-elect Donald Trump was sworn in as the 45th president of the United States on Jan. 21, 2017. His administration heralds uncertainty, as seen in the commitments that were characterized as lack of explanation and consistency. This study aimed to predict policy change in the United States based on the commitments he made during the campaign and policy concerns on pharmaceutical sector, and to suggest policy implications for Korea. According to `Republican Platform` and the document on `Healthcare Reform to Make America Great Again`, policy concerns can be boiled down to the area of intellectual property, price and transparency, access to imported drugs, and expedited approval process. However, intellectual property rights in the U.S. have been comprehensively acknowledged and protected under strict domestic legislation, and access to imported drugs would not be needed, if the high price of drugs is under control. So, in the near future, the areas of price and expedited approval process would become an outstanding issue in the U.S. With those trends in mind, data exclusivity for biologics in intellectual property, fair trade and issue linkage in price, and strict drug surveillance in expedited approval process should be noted in Korea.
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KEYWORD
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Trump, Uncertainty, Fair Trade, Pharmaceutical Affairs, Data Exclusivity
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