Home » Inter-Provincial Alliance Reduces Prices of Traditional Chinese Medicine Formula Granules by 50.77%

Inter-Provincial Alliance Reduces Prices of Traditional Chinese Medicine Formula Granules by 50.77%

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Title: China’s First Inter-Provincial Alliance for Centralized Procurement of Traditional Chinese Medicine Formula Granules Successfully Reduces Prices

Date: October 27, 2021

In a significant development for the Chinese healthcare industry, the country’s first inter-provincial alliance for centralized procurement of traditional Chinese medicine formula granules has successfully opened bids, resulting in a notable reduction in prices. The proposed winning result revealed an average price reduction of 50.77% across 200 varieties of traditional Chinese medicine formula granules.

The bidding process took place on October 27 in Dezhou, Shandong Province, and received an overwhelming response. A total of 59 companies are expected to be selected for the procurement of 200 varieties of traditional Chinese medicine formula granules, contributing to the substantial price decrease.

Led by Shandong, the centralized procurement initiative encompasses 15 alliance provinces, including Shanxi, Inner Mongolia, Liaoning, Jilin, Heilongjiang, Anhui, Jiangxi, Hainan, Yunnan, Tibet, Shaanxi, Qinghai, Xinjiang, and Xinjiang Production and Construction Corps. A remarkable 4,319 medical institutions have participated in the procurement process.

The alliance provinces have collectively registered a demand for 3.478 million kg of traditional Chinese medicine formula granules, paving the way for a market size of 3.715 billion yuan. The centralized procurement covers 200 varieties of traditional Chinese medicine formula granules that adhere to national drug standards. It includes commonly used formula granule varieties such as Astragalus membranaceus, Codonopsis pilosula, Angelica sinensis, and Atractylodes macrocephala, which are extensively utilized in medical institutions, serving a wide range of patients.

Encouragingly, 61 manufacturers producing traditional Chinese medicine formula granules actively participated in the procurement process, declaring a total of 16,345 products. The application information and quoted prices were meticulously reviewed, and as a result, 59 companies and 13,404 products have been proposed for selection. Notably, the selected prices represent an average reduction of 50.77% compared to the market price.

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This landmark centralized procurement initiative spearheaded by the inter-provincial alliance for traditional Chinese medicine formula granules promises to significantly enhance accessibility to essential and high-quality traditional Chinese medicine remedies. The notable price reductions are expected to make medical treatments more affordable for patients across the country, while maintaining the highest standards of quality and efficacy.

This move sets a crucial precedent for future inter-provincial alliances in China’s healthcare industry, as it focuses on optimizing procurement strategies, reducing prices, and ensuring the availability of vital medications. The success of this initiative demonstrates the commitment and collaborative efforts of the participating provinces to improve healthcare outcomes and provide cost-effective solutions for the citizens of China.

Source: Dazhong Daily

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