August 2 – China's pharmaceutical industry posted 180.6 billion yuan in revenues and 18.61 billion yuan in profits in June, up 18.8% and 13.1% year on year respectively, China Merchants Securities said in a research report. Revenue growth was faster than profit growth due to higher sales expenses. In 1H 2013, industry revenue was 949.3 billion yuan and profit was 91.7 billion yuan, up 19.6% and 16.6% year on year respectively. Gross profit margin was 28.43% in June, down 0.44 and 0.8 percentage points from a year and a month earlier respectively.

July 24 – The State Council called for further reforms in China's medical and healthcare system, the latest effort to cut rising medical costs and make it easier to access quality medical services. The central government will push forward a pilot scheme in some provinces to establish a settlement system for inter-provincial medical treatment, which is expected to help patients receiving medical services in a different place get reimbursed in time. The State Council will step up standardizing basic medical insurance, and will encourage companies and individuals to buy supplementary commercial insurance for severe illness.

July 16 – The Guangdong model of price-focused tender for drugs could pose notable pricing pressure on pharmaceutical companies in the near term, Citi says in its China Healthcare report. Citi sees the new model as a potential game changer in the longer run as it replaces the government-controlled tender with a market-oriented third party bidding system, and forces industry consolidation by lowering prices for undifferentiated drugs and driving companies to focus on innovation.

July 15 – The Chinese government's spending on healthcare rose 22.3% year on year to 380.6 billion yuan in June 2013, according the Ministry of Finance.

July 4 – The recently announced survey of drug prices will more likely focus on those just added to the 2013 essential drug list and preferentially priced branded generics from multinationals, Citi said in a China HealthScope report. The National Development and Reform Commission (NDRC) said earlier this week that it will conduct another survey of ex-factory drug prices and the manufacturing costs of 60 Chinese and foreign companies in the coming months. The survey may not necessarily imply or lead to price cuts, but likely reflects the NDRC's intention to build a more optimized drug pricing regulation system and to provide a basis for future price cuts on overly priced drugs.

June 27 – Revenue at retail pharmacies and drugstores in China has risen 9.5% annually during the past five years, and is expected to be worth $42.7 billion by the end of 2013, according to IBISWorld

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
C-M-O-D-O AUTHENTIC SITE PayPal
@2014 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate