Price caps on most drugs sold in China to end in June

The National Development and Reform Commission announced Tuesday that price caps for all drugs except anesthetics and certain psychiatric medications would be lifted next month, South China Morning Post reported, citing a statement on the commission’s website. “From June 1, government-set prices on most drugs will be cancelled to improve purchasing mechanisms for drugs, control medical insurance costs and allow the price of medicines to be set by the market,” the statement said. The central government has long depressed drug prices to keep medical expenses low, and in response many drug makers have cut corners in order to compete on price alone, often at risk to consumers’ health.