dollars_medicines

China to cut prices of GSK, AstraZeneca drugs

pharmafile | May 23, 2016 | News story | Sales and Marketing AstraZeneca, China, GSK, drug prices 

Chinese health authorities have announced steps to cut the prices of three costly drugs in their latest attempt to reduce the cost of healthcare in the huge nation.

GSK’s hepatitis B drug, Viread, is to fall from 1,500 yuan a month to 490 (equivalent of $75), which is a fall of two thirds, while AstraZeneca’s lung cancer pill Iressa is set to be cut by more than half from 15,000 to 7,000. Another lung cancer treatment, Icotinib made by China’s Betta Pharmaceuticals, will fall from 12,000 yuan a month to 5,500.

The lower price of Viread will now mean patients can access the drug under state healthcare policies, and will no longer have to pay for it themselves. GSK, meanwhile, are trying to restore sales levels in China after a damaging bribery scandal seen the company pay a record fine of $490 million in 2014.

Advertisement

Although the home of the world’s largest population, China is a tough market for pharmaceuticals. According to Reuters, the high cost of healthcare is a major point of contention in China and this new drive to lower the price of drugs will only challenge pharmaceuticals firms more, as indigenous drug makers grow their market share in the Far East.

Sean Murray

Related Content

Astra Zeneca Logo

NICE recommends Benralizumab for Rare Form of Vasculitis

The National Institute for Health and Care Excellence (NICE) has recommended AstraZeneca’s benralizumab (Fasenra) as …

NICE approves AstraZeneca’s dual immunotherapy for advanced liver cancer

AstraZeneca has received a positive recommendation from the National Institute for Health and Care Excellence …

Astra Zeneca Logo

Purpose and people: the enduring power of brand and the evolution of employer identity

Two decades ago, terms like purpose and people were rarely at the forefront of branding …

The Gateway to Local Adoption Series

Latest content