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China’s First Insulin Tender Hits Multinationals Hard

 
• By Dexter Jie Yan

An average overall price reduction of 48% for insulin products in China is expected to generate annual savings of $1.4bn through 2023, but multinational pharma firms will be hit hard by the bidding process.

Multi-nationals are set to lose market share in insulin to Chinese competitors in China.
Multinationals set to lose insulin market share to local competitors in China • Source: Alamy

Multinational pharma firms Novo Nordisk A/S, Sanofi and Eli Lilly and Company have been hit hard in China’s first volume-based tender program for insulin products, amid deep slashes in prices and tender volumes, according to a report published by Chinese brokerage firm CITIC Securities on 29 November.

On 26 November, the three companies, along with eight Chinese domestic insulin makers, participated in a tender program organized by...

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