by Richard Daverman, PhD
May 8, 2014 -- China will remove price caps on 280 western drugs and 250 traditional Chinese medicines, according to an announcement from the National Development and Reform Commission. Producers of these products will now be able to set prices according to the cost of production. However, the NDRC asked local authorities to monitor the prices of these products and report any large increases. The price limits induced shortages of some products, as drug companies decided they couldn’t make a profit on them. More details....
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