It’s every opportunist company’s dream: a product that’s necessary to survival plus limitations on competition and other market forces that would ordinarily drive the price of that product down. These are the conditions which result in desperate people having to pay exorbitant prices for necessary medicine. Isn’t this where regulators ought to step in? In China, the regulators have stepped in to protect consumers, but they’ve had mixed success. A team of Caixin reporters and editors tells the story of the protracted battle among pharmaceutical companies, Chinese hospitals, online marketplaces, and the humble, and often quite sick, consumer. getAbstract recommends this revealing Caixin article to health care industry regulators, patients and pharmaceutical providers.
In this summary, you will learn
- Why medicine often costs Chinese citizens a lot of money and inconvenience,
- How online drug sales have benefited the average consumer, and
- How hospitals and pharmaceutical companies are working to keep drug costs artificially high.
About the Authors
Wang Jing, Ma Danmeng, Ren Bo, Li Yan, Liu Jiaying, Zhao Jinzhao and Han Wei are writers and editors for the Chinese business magazine Caixin.