Latest Chinese Drug Coverage Comes With Steep Price Cuts, Caveats
But Bigger Volumes Await
November negotiations in China over the prices of 67 new drugs have resulted in record price cuts, averaging around 62% overall and 65% for anti-tumor products. But the sting is alleviated by the prospect of substantial volume increases.
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From Biogen to Takeda, multinationals have been cutting prices in China in a bid to seize the emerging market for rare disease treatments, as Beijing strives to expand market access.
Latest national medical insurance negotiations results show orphan drugs are covered, but Biogen’s Spinraza gets a 95% price cut. Getting coverage, rather holding out for a high price, really makes more sense in the emerging Chinese market for rare disease drugs, industry observers say.
Leading the group were Trinomab Biotech, which develops antibodies for infectious diseases, and cell and gene developers BRL Medicine and XellSmart.