According to a research report by BOCOM INTL, the firm maintains a leading rating for China's pharmaceutical industry. The National Healthcare Security Administration recently held the "2025 High-Quality Development Conference for Innovative Drugs," officially announcing the results of this round of medical insurance negotiations and commercial insurance catalog discussions for innovative drugs.
Most of the innovative pharmaceutical companies covered by BOCOM INTL have secured new medical insurance coverage or successful renewals for their products. Notably, HENGRUI PHARMA (01276), INNOVENT BIO (01801), AKESO (09926), and SINO BIOPHARM (01177) each had over five products newly included or expanded for additional indications.
The report highlights that the inclusion of more new drugs in the catalogs will enhance clinical medication standards and improve overall R&D returns for the innovative drug sector. Additionally, the introduction of commercial insurance funding is expected to provide significant incremental financial support for innovative drug payments. In the future, commercial health insurance is likely to complement basic medical insurance, laying the foundation for a diversified payment system.
BOCOM INTL remains optimistic about the sales growth potential of newly included drugs/indications by 2026, particularly for blockbuster candidates like those from AKESO. Regarding commercial insurance, the firm will closely monitor the actual implementation and payment dynamics of the first catalog, adjustments to the list and pricing, as well as long-term opportunities arising from real-world data accumulation.
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