China has vowed to speed up cuts to the cost of cancer drugs in a move that threatens to dent revenues in the country for multinationals such as Eli Lilly, Roche and Novartis.
Officials will “accelerate price cuts” for cancer treatments, the Communist party-run People’s Daily reported over the weekend. The news comes after China slashed the cost of dozens of overseas drugs by as much as 70 per cent after price negotiations last year.
The report coincided with the release of a box office-topping film about patients forced to smuggle cheap generics, adding to pressure on drugmakers in the country.
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