Did you know that Korea continues to violate its obligations under KORUS to fairly reimburse U.S. biopharmaceutical manufacturers for their new cures and treatments? For example, KORUS requires Korea to set up an independent review process for pricing determinations of new drugs. But, Korea carved out many important patented medicines from that process. By consistently ignoring the commitments it made to both the Trump and Obama administrations, Korea’s actions deprive American research companies of needed capital to create new medicines.
Ensuring Korea abides by its commitments is an important step in preserving the future of American innovation.
Well, now you know.