Cancer drug prices set to drop

Lower costs will improve access and reduce the financial burden on patients

Pharmaceutical companies are taking positive steps to reduce prices of cancer drugs in response to tariff exemptions and value added tax reductions to improve access to medicines and reduce the financial burden on patients.

China removed import tariffs on cancer drugs from May 1 and lowered VAT from May 3. According to Voice of China, it is estimated that the moves will save patients about 1,000 yuan ($145) a year on average.