2023 China Medical System annual turnover declines 12.4% to RMB8,013 million due to VBP impact, but innovative products expand.
China Medical System (CMS) reported a 12.4% decline in its 2023 annual turnover to RMB8,013 million, due to the impact of China's National Volume Based Procurement (VBP) on its three marketed original products. Despite this, CMS's innovative product portfolio has expanded, with four new drugs in large-scale clinical application and inclusion in the National Reimbursement Drug List. The company expects these developments to drive growth and support its accelerated commercialization of innovative products.
March 28, 2024
4 Articles