BEIJING, Nov. 28 -- China's expanded drug coverage through price negotiations had saved patients over 880 billion yuan (about 112.4 billion U.S. dollars) as of October 2024, according to the National Healthcare Security Administration (NHSA).

At a press conference in Beijing on Thursday, the NHSA reported that drugs covered by China's medical insurance via price negotiations had by last month been accessed more than 830 million times.

China has been working to make medicines more affordable through multiple means -- including bulk procurement and price negotiation programs.

Drug price negotiations with pharmaceutical companies aim to harness the purchasing power of healthcare insurance authorities, with pricing based on national medical insurance usage volumes.

During the press conference in China's capital, the NHSA credited the annual update system for the medical insurance drug catalog, introduced in 2018, for accelerating access to innovative medications. This mechanism ensures that new and effective drugs are promptly included in the coverage -- allowing insured individuals to benefit sooner from advancements in medical science.

Notably, the NHSA also announced 91 new additions to the national medical insurance drug list, increasing the total to 3,159 drugs and significantly enhancing coverage for chronic diseases, rare diseases and pediatric medications.