02-Aug-19, Asia Times
China will introduce more measures to control drug prices across the country to reduce people’s medical expenses.
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To effectively regulate drug prices, a governance mechanism would be put in place, along with classifications between medicinal drugs, complementary drugs and supplements, as well as standards for corresponding price adjustments.
For drugs currently priced according to demand and supply, the problem has been a lack of transparency in terms of costs, resulting in price surges. A nationwide public procurement system in which each drug would be tracked in terms of the price, stock and sales would be introduced.