Prognosis
China’s Drug-Price Cuts Pressure Lipitor and Other Foreign Pills
- Government is changing the way it procures generic drugs
- Foreign drug makers undercut in second round of procurement
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China’s plan to slash the price of many widely used drugs is pressuring large pharmaceutical companies that have long viewed the country as a place where they could make fat margins on older products.
Global drugmakers including AstraZeneca Plc, Pfizer Inc. and Mylan NV are facing the prospect of having to cut prices in half to maintain their sales to China’s biggest public hospitals, as the country’s aggressive health-care cost control campaign gains speed.