China to Cut Prices of More Than 400 Drugs by Average 15%
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China will cut the maximum retail prices of more than 400 varieties of drugs by an average 15 percent, including products from Pfizer Inc., Novartis AG and Merck & Co., to reduce health-care costs in the nation.
The changes, effective Feb. 1, will cover drugs used for respiratory diseases and pain relief, as well as other specialized medicines, the National Development and Reform Commission said in a statement on its website.