China Slashes Roche, Bristol-Myers Drugs to Pare Medical Costs
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China is slashing the price of drugs made by Roche Holdings AG and Bristol-Myers Squibb Co. by about a third, part of government efforts to rein in health-care costs and cool the fastest inflation in two years.
The National Development and Reform Commission highlighted Roche’s antibiotic Rocephin and Bristol-Myers’ heart pill Capoten in announcing new maximum retail prices for 174 medications from more than 60 companies. Prices will be cut by an average of 19 percent on Dec. 12. Health-care stocks in China fell after the announcement, dragging down the CSI 300 Index.