Nanjing Medical Loses 10 Million Yuan In Medical Trust
This article was originally published in PharmAsia News
Executive Summary
Nanjing city government started reforming nine municipal third-tier hospitals at the end of May but without the medical trust model it has been advocating. An informed source discloses that participating company Nanjing Medical lost over 10 million yuan in 2007 due to the medical trust although it has enlisted more than 100 first- and second-tier hospitals. Pharmaceutical distributors have to transfer 35 percent of their sales revenue as trust expenses to the hospitals, but with more distributors entering the business, the revenue allocation rate has gone up to 53 percent. This could sound the death knell for the medical trust scheme. Meanwhile, Nanjing Medical has denied its losses; research by Shenyin & Wanguo shows the firm's annual medical trust earned a profit of 2-3 percent. (Click here for more - Chinese Language)
You may also be interested in...
Chinese Firms Up Their Game In Novel Flu Antiviral Development
Joincare Pharmaceutical and partner TaiGen Biotechnology tout preliminary Phase III results in uncomplicated acute influenza for TG-1000, a homegrown follower of Shionogi/Roche’s oral antiviral Xofluza. Novel antivirals for flu were hotly pursued by Chinese developers throughout 2023.
Quotable: Words Of Wisdom From Our Recent APAC Coverage
Scrip's APAC team selects notable quotes from recent interviews, conferences and other coverage to highlight the views of senior executives and officials on the major topics facing the biopharma sector in the region.
Generic Or Innovator? Sandoz Sues CMS Over Potential Change In Rebate Classification
Sandoz argued against paying higher rebates for two of its drugs via the Centers for Medicare and Medicaid Services’ Medicaid drug rebate program in a US court six years after the suggestion was first made.