China’s Payer Keeps Deep Price Cuts Steady in Latest NRDL Listing
The 2022 pricing negotiations for innovative drugs organized by China’s National Healthcare Security Administration have slashed prices of included products by 60% on average, a level mostly unchanged from the 2021 round, although 36% more novel medicines were covered.
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Chinese Public Payer Data Show More New Drugs Get Faster Coverage
China’s Basic Medical Insurance Fund spent 7.1 times more on novel drugs in 2022 compared to 2019, according to figures disclosed by the National Healthcare Security Administration. Meanwhile, such drugs need to wait less to be eligible for reimbursement in China.
Paradox Of China Biotech And What Lies Ahead In 2023
The hard going could get even tougher as a funding crunch continues for China’s biotech sector, which is being hit by a paradox that could see more pain ahead, leading investors to take the pulse of the sector as the Year of the Rabbit starts.
Cold Water On Already Frozen Sector: Industry Growing Wary Of China Price Cuts
From orphan to cancer drugs, more products have had their prices cut in the latest round of reimbursement negotiations in China. Although the 60% average across 100 medicines was considered mild given it didn’t go beyond the previous year, it was still chilling and is prompting more firms, both multinational and domestic, to walk away from the process.