(Reuters Breakingviews) - China's pharma shake-up has won a healthy endorse...
A technician inspects anti-cancer drugs in vials at a lab of a pharmaceutical company in Lianyungang, Jiangsu province, China March 13, 2019. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT. - RC1941AC3380
The People’s Republic is reshaping its $220 billion pharmaceutical market to meet the demands of a rapidly aging population. Last year, 11 major cities including Beijing and Shanghai piloted a group-buying scheme for roughly 30 drugs. Companies that offered the lowest price could sell a guaranteed amount to public hospitals in those cities. The winning bids were on average more than half the prevailing market price.
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