What Lies Beneath China's Steep Price Cuts For New Drugs
Prices of direct acting hepatitis C drugs are down by 85% in China, with cancer and antidiabetes therapy costs cut by 65% and drug makers are rushing to celebrate. Scrip delves into the considerations behind the low prices and whether industry's excitement is a bit premature.
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Chi-Med opted to raise modest funds in the US to extend its cash runway ahead of a ‘big year’ but still intends to pursue a larger Hong Kong listing at an appropriate time, its CEO tells Scrip.
2019 will be remembered as a banner year for international drug makers as many grew at phenomenal rates in China, despite expansion of the “4+7” centralized procurement scheme and steep price cuts in exchange for reimbursement. As the government continues to emphasize affordability for cancer drugs and major anti-infectives, competition is heating up quickly and immune-oncology alone has seen six PD-1s elbowing each other for market share.
10 orphan drugs imported from overseas, and 40 new drug approvals, including many from domestic developers, capped 2023 as one of the busiest years for China's drug regulatory agency, as Beijing pivoted to emphasizing affordable innovation and expanding access to newer therapies for rare conditions.