China vows to maintain stable drug prices - (China Daily via NewsPoints Desk)

  • China's National Healthcare Security Administration said it will establish a long-term mechanism for drug prices to ensure that medicines are available at reasonable cost, reported China Daily.

  • The administration's deputy head Chen Jinfu said various measures including price monitoring, credit rating and legal punishments will be taken to make sure drug prices are set reasonably by pharmaceutical companies.

  • Chen added that the drug procurement mechanism will be "further reformed to maintain a fair and healthy market order," the news source said.

  • According to official data, 70% of commonly used medicines saw lower or unchanged prices compared with 2015, while cancer drug prices fell by an average of 18%.

  • The data also showed that about 30% of commonly used medicines saw prices rise due to a lack of market adjustments and higher costs for raw materials, the news source added.

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