Lee’s pledge to reimburse hair loss drug creates buzz

“issues such as budgetary projections, and selecting subjects for reimbursement remain unresolved”

Presidential candidate Lee Jae-Myung’s mention of its review gains continued attention… many tasks remain for its realization

Cannot be applied to all those affected… “Harm may outweigh the benefits for pharmacies that used lost-cost strategies”

The news that presidential candidate Lee Jae-Myung's is considering reimbursement of hair loss treatments as his election pledge is drawing attention for days.

 

However, as many unresolved issues including creating empathy on its need, budgetary projections, and review of beneficiaries remain, it is unclear whether this may be practically enforceable.

 

Although most pharmacies are welcoming the pledge, the expectation is that some pharmacies that have been selling non-reimbursed hair loss drugs at a lower price will not be welcoming the reimbursement.

 

Lee’s vow to review reimbursement of hair loss treatments has generated continuous buzz in online communities.

 

Since the drugs cost over ₩30,000 every month and require continuous administration, their reimbursement is raising expectations of reducing the burden.

 

However, the reimbursement of hair loss treatments may not benefit all those affected.

 

Reimbursement will apply depending on the type of hair loss, cause, and degree of reimbursement.

 

Therefore, unlike the rumors on social media, not all will be able to receive reimbursement.

 

In Seok Oh, Pharmaceutical Benefit Director of the Korean Pharmaceutical Association, said, “Hair loss treatments are non-reimbursed, therefore their prices are set at a higher level.

 

In general, patients pay over ₩30,000 every month for the drugs.

 

If these drugs are reimbursed, a price ceiling will be set on the drugs, and a budgetary projection must be made.

 

Also, reimbursing hair loss means that hair loss is recognized as a disease, thus specific classifications must also be made for this disease for insurance.” Oh added, “Also, not all people will be able to receive reimbursement, since the condition and type of hair loss vary greatly by person.

 

Some may be due to stress, some due to skin irritation, and some may be at a stage where taking a drug may no longer be effective” If reimbursed, patients who had avoided treating their condition will also visit clinics and hospitals, increasing the number of patients.

 

Consequently, pharmacies are also expected to see more hair loss patients.

 

However, some local pharmacies that have attracted customers by selling hair loss drugs at a lower price may not welcome the change.

 

Pharmacists A from Gyeonggi-do said, “It is good news for pharmacies that have not sold hair loss products before in the sense that their shares of the pie will increase.

 

However, for pharmacies that specialize or sell many hair loss drugs that have attracted patients with a very low price, the harm may outweigh the benefits.

 

Meanwhile, according to the market research institution IQVIA, the top-grossing hair loss treatments (finasteride, dutasteride) in Korea in 2020 were Propecia (₩41.3 billion), Avodart (₩38.4 billion), Monad (₩6.2 billion), Mypecia (₩ 5 billion), Damodat (₩3.3 billion), Finated (₩2.3 billion), Neodart (₩1.7 billion), Zygard (₩1.4 billion), Duted (₩1.2 billion) Jdart (₩1.3 billion).