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Health ministry to cut 'reference prices' for drugs by average 1.4%

The health ministry said Friday it will cut reference prices for drugs and medical materials it annually sets under the national health insurance program by an average 1.4 percent in a review for fiscal 2014. The Health, Labor and Welfare Ministry said it is cutting the reference prices to help lessen gaps between the standard prices and market prices at which makers sell the drugs to physicians.

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