China Drug-Price Negotiations Offers Glimpse Into Future for Companies in US.

(Bloomberg) -- As drugmakers in the US steel for price negotiations ushered in by President Joe Biden's Inflation Reduction Act, their experience in China, where such talks started almost a decade ago, could offer some insight into just how low costs may go. Beijing back in 2016 started to negotiate prices for newly approved drugs in order to qualify for state medical insurance coverage, as the government sought to improve access to, and affordability of, life-saving medicines for its 1.4 billion people. [Extracted from the article]