AstraZeneca, Pfizer, Novartis and more lose out in China's latest round of drug price cuts

In another abysmal day for large pharma companies’ off-patent drugs, generics makers have once again offered hefty discounts to win large tender offers in China, elbowing out original developers.

In China’s latest volume-based procurement, more than 200 companies making 60 off-patent drugs slashed their prices by an average 48% to win supply contracts with public hospitals, state-run People’s Daily reports