Recommended retail price trend of Pien Tze Huang in China 2004-2023

In May 2023, the recommended retail price of Pien Tze Huang, a well-known Chinese patent drug made exclusively by Zhangzhou Pien Tze Huang Pharmaceutical Co., Ltd., increased significantly from 590 yuan to 760 yuan per pill.

A high-end traditional Chinese medicine

As the medicine contains expensive ingredients such as deer musk and calculus bovis, Pien Tze Huang is substantially more expensive than most other traditional Chinese patent drugs. With growing demand in the market, its retail price has now more than doubled since the 2000s, while its sales volume also increased by more than 100 percent since 2016. Similar to Kweichow Moutai, China’s most recognized liquor brand, Pien Tze Huang pills are also subjected to a high level of speculation in the market.

The high popularity of traditional Chinese medicine in China

Despite the increasing debates over its efficacy, traditional Chinese medicine (TCM) remains highly popular in China. Many patients believe that since TCM patent drugs and herbal medicines are natural products, they have fewer side effects than chemical drugs and are therefore more beneficial to their well-being. At the same time, as most TCM patent drugs are inexpensive and covered by China's medical insurance system, they often constitute a cheaper means of treatment for patients with limited financial resources.