NRDL a promising sign for increased market access to innovative drugs in China, says analyst
In November 2019, China updated its National Reimbursement Drug List (NRDL) to include 70 new medicines, with an average price cut of 61% agreed by pharma companies.
This is a promising opportunity for innovative drug manufacturers to foray into the second largest pharmaceutical market in the world after the USA in terms of value, says industry analytics firm GlobalData.
GlobalData forecasts the Chinese pharmaceutical market to grow from nearly $132 billion in 2018 to more than $209 billion in 2022.
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