China launches online platform for drug price registration

China launched its first online platform for drug price registration on Tuesday, aiming to support the expansion of domestically developed innovative medicines into global markets while attracting more foreign drugs to benefit patients into China.

The system was introduced by the National Healthcare Security Administration and the People's Government of Beijing Municipality at a ceremony in the capital. Through the platform, pharmaceutical companies can voluntarily register drug prices based on their development needs and are responsible for authenticity. Registered prices should be sourced from various market channels and reflect actual market conditions. The registered information will be available for inquiry by organizations and institutions worldwide.

"Marketing authorization holders may also obtain multilingual inquiry certificates for registered prices, which can serve as valid proof of drug price registration," the administration added.

The launch comes amid rapid growth in the global innovative drug sector and the rising influence of China's large domestic market within the international pharmaceutical landscape. The trend has highlighted the reference value of end-market prices in China and the need to refine the nation's drug pricing governance framework.

According to the administration, the new platform is designed to provide "authoritative, standardized and transparent" global drug price registration and inquiry services. It is expected to facilitate the overseas promotion of Chinese innovative drugs and simultaneously attract high-quality foreign medicines into the Chinese market to benefit local patients and advance the development of the global innovative drug market.

Among the first nine companies to register on the platform were Sinopharm, Beijing Tong Ren Tang and BeOne Medicines.