All parties benefit from negotiated cuts in pharmaceutical drug prices

THE MINISTRY OF HUMAN RESOURCES AND SOCIAL SECURITY published the result of the price negotiations on 36 medicines. The end-user price of the drugs has decreased by 44 percent on average, compared with their retail price last year, and they have been listed on the drug directory of the national medical insurance system. Beijing Youth Daily comments:

It is noteworthy that 15 out of the 36 medicines treat cancers and the rest are drugs for cardiovascular disease, hemophilia, and other serious illness.

The remarkable drop in the prices of these medicines resulted from the negotiations between the government and the pharmaceutical companies, the first time such negotiations have taken place in China, and they will relieve the medical cost burden on patients.