China's national generics procurement cuts prices up to 93%

By Wang Fangqing

The second round of China’s national generics procurement, which ended on January 17, saw 53% price cuts on average of the 32 drugs that treat diseases including cancer and type II diabetes.

While most suppliers are Chinese companies, the list also includes four foreign drug suppliers – Bayer (BAYN: DE), Celgene, which is now part of Bristol-Myers Squibb (NYSE: BMY), Novartis (NOVN: VX) unit Sandoz and Boehringer Ingelheim. Bayer will be the supplier for moxifloxacin (trade name Avelox) tablets and acarbose (trade name Glucobay) tablets; Celgene for paclitaxel (trade name (Abraxane) injection; Sandoz for simvastatin (trade name Zocor) tablets and BI will supply meloxicam (trade name Mobic) tablets.