China launches global drug price registration system

China on Tuesday launched a medicine price registration system, providing price registration and inquiry services for global pharmaceutical companies both online and offline.

This means that Chinese pharmaceutical enterprises will have a "price pass" when going global, as the platform https://chinamedreg.com.cn offers an authoritative, standard and transparent price authentication that is recognized globally.

According to the National Healthcare Security Administration, companies can apply to register drug prices on the system independently, in line with their needs, and they take responsibility for price authenticity. The system operator will not intervene in price levels when handling applications.

After that, holders of the license approving drugs to enter the market can obtain multilingual query certificates for registered prices, which serve as valid proof of price registration.

Observers say the system is expected to deal with the lack of reference prices in the Chinese market -- a long-standing problem for Chinese new medicines entering international markets.

The move will also attract more premium international drugs to the Chinese market, they say.

The first batch of price registrations has been completed for nine pharmaceutical companies from both home and abroad, including Swiss pharmaceutical giant Roche.