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Winner Takes All: New China Bidding Scheme Marks Price Watershed?

 
• By Brian Yang

With tens of millions of dollars in sales at stake, a number of mostly commonly used drugs are subject to the first-ever nationwide drug price bidding process in China, with foreign firms seeing the move as opening the floodgate to a potential downward price spiral in the world’s second-largest pharma market.

Shanghai
Shanghai leads China's national "4+7" drug centralized procurement • Source: Shutterstock

China is shortly to implement a pilot consolidated, volume-based procurement program that looks likely to set the tone for drug pricing for years to come, and which is already creating worry within the pharma industry as official efforts to rein in rising drug and healthcare costs continue.

A total of 11 cities, including four 'megacities', will participate in the centralized bidding scheme, representing the bulk of the total pharma sector in the country

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