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The blockbuster cancer drug Opdivo will be sold for about $84,000 per year in the Chinese market, before discounts — meaning that China’s first cancer immunotherapy will come at about half the price it costs in the U.S.

The price tag for the Bristol-Myers Squibb drug, which is in line with analysts’ expectations, will be an early test of whether the Chinese market can support a coming wave of innovative but pricey medicines.

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