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Medicine Price Hike to be Controlled by Law
To combat insider-trading and kickbacks in medicine sales, China's top legislature has decided to take action to seal the loopholes in this regard.
Draft amendments to the Law on the Administration of Medicines submitted to the National People's Congress (NPC) Standing Committee for deliberation Friday, provide restrictions and punishments for exorbitant pricing of medicines and kickbacks in the course of circulation.
The amendments also ban the advertisement of prescribed medicine to control the excessive and false advertising that misleads customers.
Vice-chairman Li Boyong of the NPC Law Committee explained the latest changes to the amendments based on opinions and suggestions of legislators put forward in the previous meeting.
Medicines that are priced in line with market demand shall not infringe upon the interests of patients.
The amendments state that medical institutes should provide for patients price listings at their request. And no enterprises and
institutions or individuals are allowed to offer or receive kickbacks.
The law also stipulates that those who break the rule or harm the interests of medicine users will pay penalties including compensation, administrative sanction and criminal punishment.
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