China Orders Cuts on Patented Drug Prices

The National Development and Reform Commission (NDRC) has ordered price reductions on 174 drugs from 60 companies. Previously, because the drugs were patented formulations, usually from foreign companies, pharmas were allowed to set their own prices for their products. The policy of allowing companies to set their own prices for patented drugs has been in place since 2000. The price cut, whose average was 17%, will go into effect on December 12. More details....