Some Companies Say 'No' To China's Latest VBP Round
Branded Growth Without Price Cuts Still Possible
Only three of 40 qualified international drug firms won in the latest round of China's central bidding process, showing a toughening environment. But some companies are seemingly determined not to lower prices any further.
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Given the ongoing election challenges in the US, China has yet to officially congratulate Joe Biden as the next US president, although many world leaders are already hailing a reset in US foreign policy. Many are wondering if this and other moves indicate a quiet internal shift for China's high tech and life sciences sectors, just days after Beijing concluded a high-level plenary meeting outlining its priorities for the next five years.
To the watching world, China dealt quickly and firmly with COVID-19. Seen from within, the health care system is still adapting to the pandemic, but the government is taking the longer view.
Despite leading multinational pharma firms including AstraZeneca again delivering double-digit growth in China, the impact of coronavirus and an expanding volume-based purchasing scheme begin to surface.