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China to Lower Retail Price of Some Medicines
The Chinese government will lower the retail price of some locally-made medicines this coming Sunday in an effort to reduce people's medical burden and guarantee smooth medical insurance and system reform.
The price cut varies from 20 to 60 percent, covering 120 varieties of drug worth two billion yuan, including talampicillin, according to a statement issued Friday by the State Development Planning Commission (SDPC).
Sector insiders attribute the price cut mainly to the price decrease in raw material-based medicines, expansion of pharmaceutical production, and stiff market competition.
China has so far cut medicine prices three times this year, an SDPC official said, adding that the SDPC will intensify supervision over drugs market and lower retail prices for medicines that have more room for price cuts.
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