China's Ministry of Finance announced Friday VAT reductions for rare-disease drugs to lower the cost for patients with rare diseases and encourage development of the pharmaceutical industry.
Starting next month, the value-added tax on 21 medicines and four active pharmaceutical ingredients for treating rare diseases will be cut from 16 percent to 3 percent to help reduce costs and ease financial difficulties for patients.
Gansu province-based Lanzhou Foci Pharmaceutical Co Ltd is becoming well known the world over for its concentrated pills, a unique type of traditional Chinese medicine or TCM for a range of diseases or conditions like asthma, diabetes, tuberculosis, cataract, hypertension and hepatitis.
Comfort food, or snacks and beverages that people consume for pleasure or mood enhancement rather than nourishment or energy, has big business potential in China, which could help the segment to evolve, according to an industry report.
China is approving foreign drugs at a record speed, which industry sources said shows the country's commitment to further opening up its healthcare sector and supporting innovation.
China has decided to cut tariffs on a range of imported raw materials used in medicines, which industry analysts said signaled the government's heightened efforts to reduce high drug prices and improve people's healthcare.
At first glance Jiang Qin's small store in downtown Shanghai seems just like any other hole-in-the-wall, mom-and-pop grocery in China, if a little more cramped and messy.
China will accelerate the building of an online drug tracing system for vaccine, anesthetic drugs and psychoactive drugs to ensure the safety of pharmaceuticals, the China Food and Drug Administration said on Thursday.
A new report has labelled Chinese residents weak in knowledge and hence consuming low volumes of dairy products, suggesting there is significant growth potential for the domestic dairy industry.
Payment standards for 17 types of anti-cancer drugs newly included in China's healthcare security system, on average, 56.7 percent lower than their retail prices, according to National Healthcare Security Administration Thursday.