Economy China Forces Major Pharmaceutical Companies to Cut Prices by 62% to Enter Market

[Orgasmo]

Why am I posting this here? Big Pharma is sure as hell going to make somebody else pay for the lost profit. Hope Murica is ready for another round of drug price increase.

BEIJING, Dec 3 (Reuters) - Pharmaceutical firms have agreed to cut prices by 61.7% on average for 67 medicines to be included in China's national medical insurance coverage in a new round of negotiations, Chinese authorities said on Friday.

Last year, drugmakers agreed to an average price cut of around 50% for more than 100 medicines, underscoring China's strong bargaining power, as it seeks to make more drugs affordable for its 1.4 billion people. read more

The deepest price cut among the 67 medicines was 94%, NHSA official Huang Huabo told a news conference without naming the product.

Drugmakers cut prices by 62% on average to get China state insurance listing | Reuters

 

[Staph infection]

Well, that means they will go up by 78% here in the good ole US of A to make those profits back.

 

[Yehudim]

Chinese healthcare is terrible from my understanding, smart move by the CCP to use that bargaining power to give their citizens actual medicine instead of snake oil.

 

[Dalarna3]

If only we would do the same...

 

[kenetics]

To bad our politicians are bought out by big pharma. Yet you have people on here actually defending their political party . Straight embarrassing.

 

[Fluffernutter]

Why hasn't China reverse engineered the Pfizer vaccine?

 

[TUFNewb]

Why hasn't China reverse engineered the Pfizer vaccine?

They have a mrna vax that Is awaiting trials overseas. Also being tested as a booster in china. Likely to be fast tracked for approval soon but hard to say when it will hit market exactly.

 

[SummerStriker]

Chinese healthcare is terrible from my understanding, smart move by the CCP to use that bargaining power to give their citizens actual medicine instead of snake oil.

Literal snake oil

 

[fedoriswar37]

Pfizer execs - " release the new variant"

 

[west42]

Wonder what this is gonna do to powdered rhino horn prices.

 

[The XL]

We're owned by big pharma over here, quite literally. We're forced to take their products. Some free country.

 

[AndroidRage]

Why am I posting this here? Big Pharma is sure as hell going to make somebody else pay for the lost profit. Hope Murica is ready for another round of drug price increase.

Drugmakers cut prices by 62% on average to get China state insurance listing | Reuters

No they aren't. We don't pay for lost profit. We pay out the ass because our Government allows it. They aren't selling their drugs anywhere on earth at a loss.

 

[NoSmilez]

They are doing the right thing. Americans account for the majority of medication profits for these companies. Everywhere else in the world then the medication is cheap. They are still making money in China by volume so they don't care about slashing prices.

 

[NoSmilez]

Chinese healthcare is terrible from my understanding, smart move by the CCP to use that bargaining power to give their citizens actual medicine instead of snake oil.

It is a half truth. Us Americans spend usually the most or 2nd in the world but we are only ranked in the 30s in terms of healthcare. China spends like only 5 percent in their budget and they are ranked in the 40s. US healthcare is terribly inefficient. We invested too much into tertiary care like hospitals and facilities instead of primary care or prevention.

 

[nostradumbass]

Why hasn't China reverse engineered the Pfizer vaccine?

They have a normal vaccine instead of an MRNA injection.

 

[Ophydian]

Chinese healthcare is terrible from my understanding, smart move by the CCP to use that bargaining power to give their citizens actual medicine instead of snake oil.

Depends really. Major city ranges from terrible to good. Further you go out. Good luck.

 

[Ophydian]

Literal snake oil

That’s only in the Bijou.

 

[Mike]

Lmao at getting mad just because someone across the world isn't getting screwed as badly as you are. They already live in China ffs. Also, were you under the impression that people living in third world countries pay the same as us for goods and services?

They make a fraction of what we make here, of course they're paying less

 

[Miokink026]

Chinese healthcare is terrible from my understanding, smart move by the CCP to use that bargaining power to give their citizens actual medicine instead of snake oil.

how is Chinese health care terrible?

 

[Yehudim]

how is Chinese health care terrible?

Underfunded system so the CCP started promoting traditional Chinese medicine as an alternative. A lot of people aren’t getting healthcare, but are getting snake oil.

It is a half truth. Us Americans spend usually the most or 2nd in the world but we are only ranked in the 30s in terms of healthcare. China spends like only 5 percent in their budget and they are ranked in the 40s. US healthcare is terribly inefficient. We invested too much into tertiary care like hospitals and facilities instead of primary care or prevention.

I mean the actual treatment. We have excellent healthcare in the US, but it’s arbitrarily expensive in part because our government can’t negotiate prices.