China to scrap drug price caps in 2015
26-Nov-14, The Hindu Business Line
China plans to scrap retail price caps on all drugs as early as the start of next year, an official newspaper reported on Wednesday, giving the market a larger role in an industry where price controls have contributed to supply shortages.
The National Development and Reform Commission, China's planning agency, has prepared a draft law for review by the industry and could lift the caps as early as Jan. 1, the official Securities Times reported on its website.
Officials at the NDRC had no immediate comment on the report.
China has been slowly stepping back from caps on consumer prices for drugs but faces a difficult task balancing the need to ensure steady supplies of vital medicines with its desire to keep prices low.