China Negotiates Price Cuts as High as 70 Percent for Billion-Dollar Drugs

July 25, 2017

The Chinese Ministry of Human Resources and Social Security added 36 medicines to its national insurance coverage, after negotiations with companies to lower prices by 44 percent on average compared to last year, with some cuts reaching as high as 70 percent.

The list covers 31 Western drugs and five Chinese medicines, with 15 cancer drugs including the blockbusters Herceptin, Avastin, Rituxan, Revlimid and Afinitor, among others. According to the ministry, most of the imported drugs will cost less than in surrounding international markets.

Other drugs cover diabetes, cardiovascular disease and kidney disease, and include antibiotics and treatments for hemophilia and multiple sclerosis.

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