China Conducts Drug Tenders for Shanghai Market; Prices Drop 46%

On Thursday, China began the tendering process to supply drugs in 11 major China cities. The government wants to cut prices for generic drugs, and the process was more successful than experts predicted. China pharmas -- and multinationals -- offered their products at prices that were up to 90% lower, creating fear that winners of the tendering process might be worse off than the losers. In all, companies filed tenders to supply 31 drugs to Shanghai's hospital pharmacies. The prices dropped an average of 46% and pushed China pharma stock prices sharply lower. More details....

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Original Article: China Conducts Drug Tenders for Shanghai Market; Prices Drop 46%

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