Beijing targets 56 drugs for next round of bulk purchases
China has identified 56 generic medicines it wants to buy in bulk from manufacturers in the third round of its centralized drug purchasing program, according to a newly published list.
The program aims to lower the cost of off-patent drugs by allowing manufacturers to bid against each other for contracts to supply the country with needed generic medicines. Each drug can have up to eight bid winners for procurement terms of one to three years, depending on the number of suppliers. In previous years, manufacturers have slashed drug prices by over 50% to out-muscle its competitors.
Among the drugs on this year’s list are medications with sales over $1 billion to foreign drug makers, including AstraZeneca’s antiplatelet drug Brilinta, Pfizer/BMS’s anticoagulant Eliquis, and Novartis’s diabetes drug Galvus, Reuters reported.
Domestic drug developers Sino Biopharm and CSPC Pharma will both be vying for a government contract to supply metformin, the standard of care for type 2 diabetes. Bidding starts on Aug. 20.
The program aims to lower the cost of off-patent drugs by allowing manufacturers to bid against each other for contracts to supply the country with needed generic medicines. Each drug can have up to eight bid winners for procurement terms of one to three years, depending on the number of suppliers. In previous years, manufacturers have slashed drug prices by over 50% to out-muscle its competitors.
Among the drugs on this year’s list are medications with sales over $1 billion to foreign drug makers, including AstraZeneca’s antiplatelet drug Brilinta, Pfizer/BMS’s anticoagulant Eliquis, and Novartis’s diabetes drug Galvus, Reuters reported.
Domestic drug developers Sino Biopharm and CSPC Pharma will both be vying for a government contract to supply metformin, the standard of care for type 2 diabetes. Bidding starts on Aug. 20.
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