But without such cards, elderly people could obtain the drug for less than $37 at some retail pharmacies.
"To Merck we are basically another retail pharmacy," he said.
The administration said the rule could reduce revenues for many of the nation's 18,000 small retail pharmacies.
It can be bought over the counter at any retail pharmacy.
The cost at retail pharmacies is three to 10 times higher.
The Chinese government legalized foreign ownership of retail pharmacies in 2003.
Starting with only five sales men, today it is one of largest retail pharmacies in the country.
Ten people buying the same drug at a retail pharmacy may pay 10 different prices, depending on what insurance coverage they have, if any.
The company had gains in operating income from continuing businesses and retail pharmacies.
Such companies also deal with retail pharmacies that can access their data banks when filling a plan member's prescriptions.