Xin Jing Bao·2025-04-24 03:11Core Viewpoint - The announcement by the National Medical Products Administration and the General Administration of Customs allows the import of natural bezoar for use in traditional Chinese medicine production, which may help alleviate the high prices of related medicinal materials and products [1][2][3]. Group 1: Import Policy and Regulations - The import of bezoar is permitted for use in traditional Chinese medicine production from countries free of mad cow disease, with a trial period of two years in 12 provinces [2]. - Import applicants must be holders of drug market licenses for traditional Chinese medicine containing bezoar, and the imported bezoar can only be used within the group of companies that hold the license [2][3]. - A traceability system for imported bezoar must be established, covering all stages from production to storage, and separate production facilities must be set up for manufacturing [2]. Group 2: Market Dynamics and Pricing - The price of natural bezoar has surged from approximately 20 million yuan per kilogram in 2014 to around 160 million yuan per kilogram in 2023 due to limited supply [4]. - Related products, such as An Gong Niu Huang Wan, have also seen significant price increases, with some products experiencing multiple price hikes over the years [5]. - The global supply of natural bezoar is limited, with an estimated production of 3,000 to 4,000 kilograms, and Brazil being the largest producer [6]. Group 3: Potential Impact on Prices - The import of bezoar is expected to increase supply and potentially lower prices, but the extent of price reduction may be influenced by strong market demand for traditional Chinese medicines [6][7]. - Factors such as market expectations, hoarding behavior by investors, and pricing strategies of manufacturers may hinder significant price decreases [7].