4 December 2021 - Pharmaceutical firms have agreed to cut prices by 61.7% on average for 67 medicines to be included in China's national medical insurance coverage in a new round of negotiations, Chinese authorities said on Friday.

Inclusion on the National Reimbursement Drugs List has helped many global drugmakers such as Merck and Novartis book strong product sales growth in China in recent years, as their products have become more widely available.

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