Multinationals Eye Divesting Established Products In China Amid Fierce Competition, Shifting Focus
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.
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Facing unprecedented pricing pressures in China, multinationals are embarking on a major shift away from mature products to focus more on innovative drugs, but there are major challenges linked to the transition that won’t be easy to navigate, notes a new report.
China's new so-called “4+7” drug bidding pilot scheme, already expected to be a killer for some companies, has cut prices by as much as 90%, leaving all but two multinationals to bid successfully and accept the revised levels. The big reductions could also lead to further price erosion for the winning products.
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