Pfizer launches China's first pay-for-performance model for cancer

Pfizer Inc. (NYSE:PFE) launched a pay-for-performance insurance program for its breast cancer drug Ibrance palbociclib in China on Jan 23. The program is the nation's first pay-for-performance insurance for oncology and covers 34 Chinese cities, according to state-run newspaper China Daily.

Pfizer developed the Bo'ai Xin'an - Patient Benefit Management Program in collaboration with insurance company Shanghai Branch of PICC Health Insurance Co. Ltd. (Beijing, China) and medical payment services company Shanghai MediTrust Health Co. Ltd. (Shanghai, China)...