Chi­na to cut can­cer drug prices; Nim­bus nabs Gilead­'s Adri­an Ray to serve as SVP of dis­cov­ery bi­ol­o­gy

→ Chi­na’s med­ical in­sur­ance au­thor­i­ties are pledg­ing to slash can­cer drug prices, ac­cord­ing to a week­end re­port from the Com­mu­nist par­ty-run Peo­ple’s Dai­ly. Drugs al­ready cov­ered by state in­sur­ance could have their prices cut by 10%, with pos­si­ble re­duc­tions of up to 50% for oth­er med­ica­tions as a con­di­tion of be­ing added to the state in­sur­ance scheme, ac­cord­ing to a Fi­nan­cial Times re­port. Quot­ing un­named sources “fa­mil­iar with the mat­ter,” the FT said sev­er­al multi­na­tion­al phar­ma com­pa­nies have been in­vit­ed to talks with gov­ern­ment of­fi­cials over prices this week. Can­cer drug price cuts could af­fect the rev­enues for com­pa­nies like Eli Lil­ly, Roche, and No­var­tis, which all launched on­col­o­gy prod­ucts in the re­gion.

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