Top-selling patented drugs’ prices to be reduced in China

China has said that it will reduce the price of three top-selling patented drugs by more than 50%.

With the condition to make bulk purchases, pharmaceutical manufacturers,have agreed to lower some drug prices after discussions with the National Health and Family Planning Commission.

A treatment for hepatitis known as Viread (tenofovis disoprox) will be reduced by GSK from RMB 1,500 to RMB 490 per month.

China’s Beta Pharmaceuticals will reduce its anti-cancer drug Conmana (icotinib) from RMB 12,000 to RMB 5,500.

Another anti-cancer drug called Iressa (gefitnib), made by AstraZeneca, will be reduced from RMB 15,000 to RMB 7,000.

The drugs will be subject to a price reduction of 67%, 54% and 55% respectively.

Li Bin, head of the commission, said that the price cuts are expected to prompt prices for other drugs in similar categories to fall to a reasonable level.

The commission has been working with 15 central government departments since October 2015 to negotiate with pharmaceutical companies.