China National Insurance System and Pharma Reach Pricing Agreement
January 10, 2022
Pharma and the Chinese government have reached an agreement resulting in price cuts averaging over 60% for Chinese citizens. The price cuts come in exchange for placement on China’s National Reimbursement Drug List, which allows the drug to be reimbursed by the national insurance system, providing access to the world’s largest healthcare market.
According to Pacific Bridge Medical, “Among the multinational firms benefiting from the recent negotiations are Johnson & Johnson, which will have four new drugs on the 2022 list, including Darzalex, a treatment for multiple myeloma, and Pfizer, which will have three. The price for Chinese consumers of Spinraza, a new drug from Biogen to treat spinal muscular atrophy, is expected to plunge as a result of the negotiations, as is that of Taltz, a psoriasis drug from Eli Lilly & Co., among others.”
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(Source: Pacific Bridge Medical, January 1st, 2022)