MedWatch

Drugmakers agree to halve prices to secure access to China

Astrazeneca, Glaxosmithkline and Novo Nordisk amongst companies to cut drug prices in China.

Photo: Novo Nordisk / PR

Drugmakers from Astrazeneca and GlaxoSmithKline to BeiGene Ltd. agreed to cut prices on some of their newest drugs in China by an average of 51% in order to be covered by the country’s national insurance fund.

A total of 119 new therapies -- treating ailments from pulmonary diseases and diabetes to cancers and lupus -- were added for coverage by the state-run medical safety net after drawn-out negotiations, the National Healthcare Security Administration said in a notice posted on its website Monday.

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