Drugmakers Offer Up to 90% Off as China Opens New Round of Bidding - (Yicai Global via NewsPoints Desk)

  • Pharmaceutical companies have offered discounts of as much as 90% on some of their medicines as bidding opened on Friday in China's second round of centralized drug procurement, reported Yicai Global.

  • A maximum of six companies can be shortlisted for each of 33 categories, which cover treatments made by 100 drugmakers.

  • The 33 categories cover oral hypoglycemic drugs, hypertension medicines, cancer treatments, antibiotics and others. 

  • The news source said the treatments include 26 original medicines from 20 international companies, with GlaxoSmithKline, Bayer and Pfizer having the highest number of such medications, at three each.

  • According to the news source, Huadong Medicine lost out to Bayer in the tender for a diabetes medicine, with the German drugmaker's bid almost 80% lower than the highest valid offer.

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