Reforms could hit drug prices

The pharmaceuticals industry is set for regulatory reform that could see antibiotic prices cut by as much as 40%, the South China Morning Post reported, citing industry sources. Prices of anti-cancer drugs and Chinese herb medicines will also come under the spotlight as part of a National Development and Reform Commission review, the results of which will be released in November. The government aims to consolidate the market by forcing the smaller drug firms out of business in a move it hopes will boost domestic drug manufacturing in general. There are likely to be financial implications for listed drug firms like Sino Biopharmaceutical, Guangzhou Pharmaceutical and China Shineway Pharmaceutical Group.