China Cuts Prices on GSK, AstraZeneca and Beta Drugs by Up to Two-Thirds

China's National Health and Family Planning Commission has mandated price reductions on three expensive drugs by up to two-thirds. Two of the drugs are imported, which is no surprise, but one is from China, which is. The drugs are: Viread, a hepatitis B treatment from GlaxoSmithKline that was cut from $229 per month to $75; Iressa, a lung cancer treatment from AstraZeneca that drops from $2292 to $1069 per month; and Icotinib, a similar drug to Iressa made by Zhejiang Beta Pharma, which fell from $1832 to $839. There is some good news for the three pharmas: all of the cost for the three drugs will now be fully covered by China's insurance plan, which should increase sales. More details.... Stock Symbols: (NYSE: GSK) (NYSE: AZN) Share this with colleagues: // //  
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