China has slashed the price of dozens of top drugs from multinationals such as Roche, GlaxoSmithKline and AstraZeneca by as much as 70 per cent as a condition of adding them to a government health insurance scheme.
Thirty-six drugs, mainly developed by overseas companies, will see average cuts of 44 per cent to last year’s retail prices, making them cheaper in China than “neighbouring regions”, the social security ministry said in a statement.
The move makes the medicines eligible for state co-payment, which pharmaceutical companies and analysts say will bring the products within the reach of more people, boosting overall sales.
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