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China pushes for lower cancer drug prices - Xinhua

Reuters  |  SHANGHAI 

(Reuters) - China's new will begin negotiations with domestic and companies to lower prices of drugs in a bid to cut the financial burden on patients, state agency said on Saturday.

The said it was preparing to include more drugs on its list of medicines eligible for reimbursement, and said 10 foreign and eight domestic companies had expressed a willingness to work with the authority.

China's rates have been soaring, driven by growing numbers of over-60s, heavy smoking among men and exposure to pollution. The said last year there were 4.29 million new cases every year and 2.81 million deaths.

Delegates to parliament said in May that the five-year cancer survival rate stood at just 30 percent in 2015, less than half the U.S. level, and the government has vowed to improve that by 15 percentage points by 2030.

Improving is one of the biggest challenges facing as its population gets older. It has vowed to make medicine and treatment cheaper and more easily available.

A national began covering 16 brands of targeted cancer drugs last year, cutting prices by 44 percent on average, reported this year.

also removed tariffs on all imported cancer drugs starting from May 1, following a decision by in April.

(Reporting by David Stanway; Editing by Robert Birsel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, July 14 2018. 10:55 IST