China scrapping price controls on low-cost pharmaceuticals


China intends to end price limits on low-cost drugs after the controls caused quality problems and shortages.

China's economic planning body, the National Development & Reform Commission, will lift price caps on 280 drugs provided by Western companies and 250 Chinese patent medicines.

Sanofi (SNY) and Pfizer (PFE) said it's too early to ascertain the impact of the new policy. Other companies that could be affected include GlaxoSmithKline (GSK).

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