Beijing has been pushing forward the program where drugmakers have to go through a bidding process and cut prices low enough to be considered over generic copies and be allowed to sell their products at public hospitals via large-volume government procurement.
In the latest bidding on Friday that involved 33 drugs and 122 companies, Bayer slashed the price of its popular diabetes treatment Acarbose to 0.18 yuan per pill, 78.5% lower than the price ceiling set by the government in December last year, elbowing some Chinese generic providers out of the tender, according to a Reuters calculation based on the preliminary results released by the authority overseeing the program.
Chinese copycats won bids for most of the 33 drugs, including generic versions for drugs ranging from Johnson & Johnson’s prostate cancer treatment Zytiga to Eli Lilly’s erectile dysfunction treatment Cialis, the results showed.
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