TaiGen Biopharmaceuticals Holdings Ltd (太景醫藥研發控股) on Thursday last week said that it expects sales in China to grow next year, when its oral formulation of antibiotic Taigexyn is to be included in China’s national medical insurance program.
TaiGen has agreed to cut the price of its Taigexyn by 46 percent to 16.2 yuan (US$2.30) from 30 yuan, which the company said was a mild discount compared with an average reduction of 60.7 percent for drugs to be included in the program.
“This result from negotiations signals that the [Chinese] National Healthcare Security Administration has a high opinion of our drug,” TaiGen chairman Philip Huang (黃國龍) said.
Although people in China have had to pay the full price for Taigexyn this year, demand has been robust, he said, adding that cumulative sales of the tablets have increased 1.7 times in the first three quarters of this year.
That growth is expected to accelerate next year as a total of 1.35 billion people in the insurance system would be able to use the drug, Huang said.
The potential market for Taigexyn is forecast to total 1 billion yuan per year in China, given that a rival treatment, Bayer AG’s Moxifloxacin, reported annual sales of at least 5 billion yuan, TaiGen said.
As for the intravenous formulation of Taigexyn, which TaiGen has said would be more popular and profitable than the oral version, the firm reiterated that it could start selling the drug in China next year, as it expects to gain marketing approval soon.
TaiGen shares advanced 4.15 percent to close at NT$21.35 in Taipei trading on Friday, compared with the Taipei Exchange’s decline of 0.81 percent, the exchange’s data showed.
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