China wants big pharma to bend the knee in new health care system

Bloomberg

21 October 2019 - Less than five years ago, Chinese health care was a closed-off, low-quality system where the richest left the country for medicines and treatments, and the poorest took a bad diagnosis as a death sentence. 

Now, the world’s second largest economy is striving to become a place where patients can get the best, newest drugs and services faster and cheaper than anywhere else.

Pressured by its growing middle class, the Chinese government has set itself an ambitious target: first-world health outcomes at a fraction of the cost that other countries, especially the U.S., pays.

To get there, China has doubled the amount it’s pouring into public hospitals in the last five years to $38 billion. It wants to see a healthcare industry valued at $2.3 trillion by 2030, more than twice its size now.

Read Bloomberg article

Michael Wonder

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Michael Wonder

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Medicine , Market access , Pricing , China