Gov­ern­ment-con­trolled pric­ing of drugs to end

China Daily (Canada) - - NEWSCAPSULE -

The cur­rent gov­ern­ment-led pric­ing sys­tem for drugs that has been in place for about two decades will end soon.

Prices of more than 2,700 drugs will soon be de­ter­mined by the mar­ket, rather than the gov­ern­ment, as China gets ready to roll out a drug pric­ing re­form plan, in­dus­try sources said.

The Na­tional De­vel­op­ment and Re­form Com­mis­sion sent the draft plan on drug pric­ing re­forms to eight re­lated in­dus­try as­so­ci­a­tions to so­licit opin­ion. What this also means is that the cur­rent gov­ern­ment-led pric­ing sys­tem that has been in place for about two decades will end soon.

Cur­rently gov­ern­ment-priced drugs ac­count for 23 per­cent of the to­tal drug mar­ket in China. The re­forms stip­u­late that the max­i­mum re­tail price, or fac­tory price of drugs, will not be fixed by the gov­ern­ment from Jan 1, 2015.

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