BEIJING :China's Commerce Minister told foreign pharmaceuticals firms they can expect"more development opportunities" during a roundtable on Wednesday, his ministry said, as drugmakers bemoan government procurement policies pricing them out of the market.
Foreign pharmaceuticals firms have struggled to cement any inroads they have made into the world's second-largest economy, with the government maintaining a drug procurement programme that forces them to slash their prices and refusing to approve the use of any foreign COVID-19 vaccines during the pandemic.
Notably, the statement made no mention of whether Moderna had been in attendance, which on Wednesday announced it had signed a deal thought to be worth around $1 billion to research, develop and manufacture mRNA medicines in China. But in response to a question from an executive from Merck, Li added:"You should also understand that our medical and social security systems and patients cannot cope with excessively high prices for new medications."
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