CSPC Pharma says two meds in national list at reduced price

CSPC Pharmaceutical (1093) said two of its products have been included in the National Drug Reimbursement List, which will put pressure on its future sales.

After the inclusion, CSPC's Butylphthalide Soft Capsule and Butylphthalide and Sodium Chloride Injection will be 3.36 yuan per capsule and 139 yuan per injection respectively, representing a reduction of 55.6 percent and 51.3 percent respectively, as compared with the current lowest price across the country, which will come into effect March 1, 2021.

The drugmaker said it will improve the affordability of the products and stimulate market demand and increase the sales volume.

It will also aim to reach lower-tier markets. The company is in negotiation with the National Healthcare Security Administration on the medical insurance reimbursement, which may accelerate the drugs' access to hospitals, it said.

The impact of inclusion in medical insurance reimbursement is uncertain at this stage, CSPC said.

Shares of CSPC fell 1.71 percent to HK$7.47 as of 1:28 pm.