OBJECTIVE: To assess the cost-effectiveness of vortioxetine versus venlafaxine 
XR (extended-release) in major depressive disorder (MDD) patients in South 
Korea.
METHODS: A 1-year cost-effectiveness analysis from a limited societal 
perspective was performed using a combined model consisting of a decision-tree 
and a Markov model. Patients entered the model when initiating or switching 
antidepressant treatment following inadequate response to previous treatment. 
Remission, relapse and recovery were the main health states.
RESULTS: Vortioxetine dominated venlafaxine XR, with quality-adjusted life year 
(QALY) gains of 0.0131 and cost savings of KRW 623,229/year [US$530/year] from a 
limited societal perspective. Safety contributed more than efficacy to the 
incremental QALY gains. More patients were in recovery after initial treatment 
and after 1 year with vortioxetine (31%, 40%) compared to venlafaxine XR (23%, 
36%). Vortioxetine remained dominant in 98% of probabilistic simulations.
CONCLUSION: Vortioxetine dominated venlafaxine XR in South Korea and is a 
relevant treatment option for MDD patients initiating or switching therapy.