China to charge $102K for drug, device registration in first hike in two years

It is going to cost more than $100,000 to register a drug or medical device in China. The government plans a hike in registration fees for those two products, the first in two years. The National Development and Reform Commission took pains to note that the new fee, nearly $102,000 at the current exchange rate, would remain relatively low compared with other large markets. The Finance Ministry based the new fee on the recommendations of a third-party accounting firm, it said. According to the commission, the increase is only the nation's second since 1995. It noted that the new fee was only 64% of that of Australia, 35.5% of that of Canada, 33.7% of that of Japan and 5.2% below that of the United States. Release (Chinese)