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Drugmakers Agree to Halve Prices to Secure Access to China

  • Average cut is 51%, 10 percentage points less than last year
  • AstraZeneca, Glaxo drugs are among 119 therapies on list
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Photographer: Mikael Sjoberg/Bloomberg
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Drugmakers from AstraZeneca Plc and GlaxoSmithKline Plc to BeiGene Ltd. agreed to cut prices on some of their newest drugs in China by an average of 51% in order to be covered by the country’s national insurance fund.

A total of 119 new therapies -- treating ailments from pulmonary diseases and diabetes to cancers and lupus -- were added for coverage by the state-run medical safety net after drawn-out negotiations, the National Healthcare Security Administration said in a notice posted on its website Monday.