Big Pharma Gets Wounded in China from Slashed Drug Costs

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By Christina Sarich

Drug Prices are as bloated as post-binge politicians in America. But in China, it seems that drug prices are being slashed where it hurts – in Big Pharma’s collective wallet. A state-led campaign to slash drug prices has targeted some of the biggest drug manufacturers in the world.

China’s growing pharmaceutical market is still controlled largely by the government, which is increasingly dealing with a population suffering from illness like diabetes and cancer. China spent more than $115 billion on drugs last year, but with tighter budgets and a struggling economy, advocates are pushing for lower drug prices, and urging the …read more

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