Winner Takes All: New China Bidding Scheme Marks Price Watershed?
With tens of millions of dollars in sales at stake, a number of mostly commonly used drugs are subject to the first-ever nationwide drug price bidding process in China, with foreign firms seeing the move as opening the floodgate to a potential downward price spiral in the world’s second-largest pharma market.
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Farewell established products, hello innovative new drugs! As pricing pressures mount, more multinational companies including Lilly and Roche are switching their business focus in China, looking at product divestments and partnering with local firms.
Cancer drug prices again on the chopping board in China, including for some products already affected, and more are coming.