By Huang Jianwen King and Wood Mallesons’ Commercial & Regulatory Group
Along with the rapid development of the healthcare and pharmaceutical industry, various key policies have been published recently. This article will sort out China’s key regulations and policies in 2015 related to drugs from three aspects – drug prices, drug evaluations, and drug procurements.
I. Drug Pricing: Pricing Reform has been Promoted
On April 24, 2015, the 14th Session of the Standing Committee of the Twelfth National People’s Congress adopted the decision to amend the Pharmaceutical Administration Law of the People’s Republic of China. The amendment not only simplified the procedures for the registration, modification, and cancellation of the drug manufacturing license and drug distribution license at the administration for industry and commerce, but also removed the price restrictions for most drugs to pave the way for the marketization of drug prices.
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