Stocks of Chinese pharmaceutical companies posted the worst drop in almost a decade after the drug prices in the government procurement tumbled, sparking concerns that in the future companies will have to make sharp price cut to win government order.
Preliminary results for the tender on Thursday shows that prices on drugs that made into a government procurement list were cut substantially. In particular, the price for one hepatitis B drug was cut by as much as 90 per cent and the price of another made by Jiangsu Hengrui Medicine Co. was reduced by 60 per cent.
The result has . . .
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