China's health authority announced cuts of over 50 percent in the prices of three patent drugs.

GlaxoSmithCline (GSK) will reduce the price of Tenofovir Disoprox, a treatment for hepatitis B, from 1,500 yuan ($229) to 490 yuan per month.

Icotinib, an anti-cancer drug made by China's Betta Pharmaceuticals, will be dropped from 12, 000 yuan to 5,500 yuan for a month's supply.

AstraZeneca will lower the monthly cost for the anti-cancer Gefitinib from 15,000 yuan to 7,000 yuan. 399.html