China suffers as cheap medicines disappear from market due to 'monopolies' on raw materials

13 October 2015

Chinese hospitals are attributing a shortage of affordable medicines to alleged monopolies on raw materials, according to the state news agency Xinhua.

A survey of 40 major hospitals in China carried out by Beijing News showed that 342 of more than 500 essential medicines are in great shortage. Production is shrinking while demand remains high and the pricing surge has made these drugs inaccessible.

One example is persantin, which is often used when treating cardiovascular problems in elderly patients. Two months ago the raw material used for the drug cost 500 renminbi ($78.9) per kilogram or less, while now it costs 680 renminbi.

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