China secures bulk drug discounts

China's National Health and Family Planning Commission (NHFPC) negotiated price discounts on three patented drugs in return for bulk purchase agreements, according to the Xinhua state news agency. The negotiations are part of a pilot program to reduce prices of patented drugs, which would be reimbursed rather than purchased out-of-pocket and would become more widely available in the country (see BioCentury Extra, March 10).

GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) agreed to lower the monthly price of HBV drug Viread tenofovir disoproxil fumarate by 67% to RMB490 ($75) from RMB1500 ($230), Xinhua said. GSK has rights to Viread in China from Gilead Sciences Inc. (NASDAQ:GILD) to treat HBV. ...