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Drug Price Waterloo: China's New Bidding Process Hits MNCs Hard

 
• By Brian Yang

China's new so-called “4+7” drug bidding pilot scheme, already expected to be a killer for some companies, has cut prices by as much as 90%, leaving all but two multinationals to bid successfully and accept the revised levels. The big reductions could also lead to further price erosion for the winning products.

Huangpu river and Shanghai skyline
SHANGHAI LEADS CHINA'S NATIONAL "4+7" DRUG CENTRALIZED PROCUREMENT • Source: Shutterstock

The results of a new pilot drug price bidding scheme, announced by China’s new Medical Insurance and Support Administration (MISA), sent immediate shock waves to the market, leading to instant trading halts for many publicly traded drug makers in Shanghai and Shenzhen as they were affected by the process.

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