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China Announces another Round of Drug Price Cuts

Sep. 30, 2012

China has ordered an average 17% reduction in the maximum retail prices of 95 different cancer, immunology and blood-related drugs, many of which are produced by foreign drug makers. Unlike earlier rounds of price cuts, this one concentrated on drugs with high daily costs. Especially hard hit were drugs with “separated pricing” – the drugs available from a foreign manufacturer at a higher price than their China generic equivalents. At the same time, China’s NDRC reiterated support for prices that are high enough to encourage innovative drug research.