Prices of basic drugs slashed 12%

Retail prices of almost half of the drugs on the Ministry of Health's essential medicines list will be slashed by 12 percent this month.

The cuts, which are aimed at easing the financial burden on citizens as part of far-reaching health reforms, will start on Oct 22, the National Development and Reform Commission (NDRC) announced on Friday.

The recommended retail price of about 49 percent of the drugs will remain unchanged, while 6 percent of the listed drugs in short supply will be raised to encourage increased production, the commission said.