China Revises Catalog On Basic Medicine
This article was originally published in PharmAsia News
Executive Summary
China's national catalog of basic medicines is expected to be published this June after its submission to the State Council for approval this April. As the foundation of other domestic medical product listings, the catalog covers almost 500 medicines - in contrast to the usual 300 of overseas medicines - of which some 200 are traditional Chinese medicine that include ethnic and local medications. Officials revealed that a consensus has been reached on pricing of the listed items, which will be strictly regulated. Domestic pharmaceutical companies hope to see a comprehensive strategy that incorporates a more scientific approach to the pricing and tender process for medicine so that they can compete with foreign enterprises dominating the major sales. (Click here for more - Chinese Language)