OBJECTIVES: Ranibizumab (RBZ) was the first available anti-vascular endothelial growth factor treatment in China. Monthly treatment is recommended per label; however, pro re nata (PRN) (as needed) is the most widely used dosing regimen in local routine clinical practice. This study aimed to assess the cost-effectiveness of RBZ-PRN compared to best supportive care (BSC) with the recently revised 2016 manufacturer price from a societal perspective. METHODS: A 10-year MS-Excel Markov model with 5 visual acuity levels and 1 death state was used. Two wAMD eye types, predominantly classic (PC) and minimally classic/occult (MC/OC) eyes were analyzed separately given the differences in treatment response observed in clinical trials. Transition probabilities, treatment frequencies and adverse event data were sourced from clinical trials (MARINA, TAP, SUSTAIN, MONT BLANC). Direct medical costs (3.5% discount) were obtained from China’s national claims database; utilities (3.5% discount) were from a time-trade-off study. Direct non-medical and indirect costs were sourced from a local disease burden study. One-way and probabilistic sensitivity analyses were performed on baseline age, time horizon, treatment duration, blinding costs and utilities etc. RESULTS: Assuming a cost-effectiveness threshold of CONCLUSIONS: For the treatment of wAMD, RBZ-PRN provided greater utility gains than BSC and was cost-effective from a Chinese societal perspective in both PC and MC/OC subgroups compared to BSC. Cost-effectiveness evidence of the type presented here is valuable for informing drug reimbursement decision making in the Chinese national health service.