Fudan-Zhangjiang to adjust drug prices amid procurement changes

Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (HKEX:1349) announced that it will adjust the price of its key product, Doxorubicin hydrochloride liposome injection (LIBOd®), following its inclusion in the National Centralized Drug Procurement Catalog. The company expects that from May 1, 2025, the retail price of the Drug will decrease by at least 35% lower than the previous bidding prices for unselected products according to the rules and requirements of each province. LIBOd® generated approximately RMB210 million in revenue in 2024, accounting for 29% of the Group's total annual sales. The company anticipates that this price adjustment will adversely affect sales starting in the second quarter of 2025 and that sales volumes are expected to decline compared to 2024. The company says it will continue to focus on new business opportunities, optimize its marketing network, and boost research and development efforts.