The National Joint Procurement Office in China has released a notification outlining the information and filing requirements for the continuation of insulin drug procurement contracts under the volume-based procurement (VBP) program. The renewal process for these insulin VBP contracts is set to commence from March 15, 2024.
The inaugural national-level VBP tender for biopharmaceutical products, which occurred in November 2021, included a total of 16 types of insulin by molecular name. The tender involved 11 companies and resulted in an average price reduction of 48.75%, with total procurement contracts valued at RMB 5.1 billion (USD 708 million). Implementation of the VBP procurement for insulin began in various regions from May 2022, with a procurement cycle of two years. Unlike chemical drugs, all insulin products are supplied on a nationwide basis rather than being allocated by region, leading to a centralized contract renewal process managed by the national joint procurement office.
This centralized approach to insulin procurement is a significant development in China’s efforts to streamline and reduce costs within the biopharmaceutical sector, potentially impacting the pricing and accessibility of insulin for millions of patients across the country.- Flcube.com
