China launches online platform for drug price registration

China on Tuesday launched an official online platform providing services for pharmaceuticals price registration and inquiry, aiming to support the expansion of domestically developed innovative medicines into global markets while attracting more foreign drugs to benefit patients into China.

This platform was jointly introduced by the National Healthcare Security Administration and the People's Government of Beijing Municipality during a ceremony held in Beijing.

Through the platform, pharmaceutical companies can voluntarily register drug prices while public can also inquire about drug prices through the system. These prices may be sourced from different market channels and reflect real market prices, and pharmaceutical companies shall bear responsibility for the authenticity of the prices they register.

After passing the qualification and authenticity review upon application, pharmaceutical marketing authorization holders can obtain inquiry certificate for registered prices in Chinese and other languages. This platform also offers additional services, including multilingual inquiry certificates for registered prices, price comparison and notarization.

"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.

The first nine companies to register on the platform on Tuesday were Sinopharm, Beijing TongRenTang, BeOne Medicines, Akeso Pharmaceuticals, Yifan Pharmaceuticals, Roche Pharmaceuticals, JW Therapeutics, Innovent Biologics, and Hengrui Medicine.