Summary of Expert Call on China's Pharma Market Industry Overview - **Industry**: Pharmaceutical Industry in China - **Focus**: Multinational Corporations (MNCs) and their strategies in the Chinese market Key Insights 1. **Long-term Strategic Focus**: China is viewed as a top-five market for MNCs due to its large population and aging demographics, maintaining its strategic importance despite cost control policies impacting revenue growth [2][8][9] 2. **Cost Control Policies**: Policies like Value-Based Pricing (VBP) and Diagnosis-Related Groups (DRG) have led MNCs to shift focus from off-patent drugs to innovative drug sales, akin to a "patent cliff" scenario [3][8] 3. **Out-of-Pocket (OOP) Market**: MNCs are prioritizing the OOP market, which, despite higher prices compared to National Reimbursement Drug List (NRDL) drugs, has seen reduced patient costs through assistance programs and commercial insurance [3][10][11] 4. **In-Licensing Strategies**: MNCs are increasingly in-licensing innovative assets from China, driven by the improving quality of Chinese clinical trial data and faster development speeds [4][12][14] 5. **Collaboration Models**: New collaboration models are emerging, such as establishing NewCos and co-development agreements, as Chinese firms seek international R&D expertise [15][12] 6. **Regulatory Environment**: The Chinese pharmaceutical market is highly regulated, with ongoing refinements to policies like VBP, which now emphasizes drug quality [9][18] Additional Considerations 1. **Impact of CIDL**: The newly launched Commercial Insurance Innovative Drug List (CIDL) negotiations are expected to unlock growth opportunities for innovative drugs, particularly high-cost treatments [2][9] 2. **Geopolitical Factors**: MNCs are less focused on geopolitical factors when in-licensing Chinese assets, prioritizing therapeutic fit and strategic alignment instead [14] 3. **Quality of Clinical Trials**: MNCs maintain high standards for clinical trial data, with increasing investments in Chinese assets reflecting confidence in the quality of local clinical data [13][12] 4. **Risks in the Market**: Potential risks include unexpected price cuts from Group Purchasing Organizations (GPOs), intensified competition, and stricter regulations [18] This summary encapsulates the insights from the expert call regarding the evolving landscape of the pharmaceutical industry in China, highlighting both opportunities and challenges for MNCs operating in this market.

Policy Developments - The National Medical Products Administration (NMPA) has expanded the scope of export certificates for pharmaceuticals, allowing companies to apply for export certificates for drugs produced under GMP, regardless of whether they are approved for sale in China [2] - The validity period for the "Drug Export Sales Certificate" has been extended from 2 years to 3 years, aligning it with the "Export Certificate for EU Raw Materials" [2] - The maximum processing time for export certificates has been set at 20 working days, excluding the time required for technical reviews and on-site inspections [2] Drug and Device Approvals - Heng Rui Medicine has received clinical trial approval notices for multiple drugs, including SHR-9839 and SHR-A2009, and will soon commence clinical trials [4] - Renfu Medicine's application for the marketing authorization of Dexmethylphenidate Capsules has been accepted, targeting ADHD treatment, marking a significant step as no similar products are currently available in China [5] - Baile Tianheng's innovative EGFR×HER3 dual-target ADC drug, iza-bren, has had its marketing application accepted, being the first of its kind to enter Phase III clinical trials [6] Capital Markets - Eli Lilly has become the first healthcare company to reach a market capitalization of $1 trillion, with its stock price increasing by 38% this year, driven by investor optimism regarding its weight-loss drug [8] - Changshan Pharmaceutical's controlling shareholder plans to transfer 5% of its shares to Element Fund at a price of 46.25 yuan per share, totaling 2.1275 billion yuan [9][10] Industry Events - A medical representative was sentenced to eight months in prison for fraudulently altering gene test reports to defraud health insurance, highlighting the increasing scrutiny and regulatory measures in the pharmaceutical industry [12] - Heng Rui Medicine has signed a partnership agreement with the Hong Kong Greater China Cancer Foundation to provide innovative therapies for breast cancer patients in Hong Kong [13] - Baicheng Medicine has entered into an exclusive licensing agreement with Zhongshen Innovation for the innovative drug BIOS-0629 in the Greater China region, with milestone payments of 300 million yuan [14] Public Opinion Alerts - Li Xin, former member of the Party Committee and assistant general manager of China Pharmaceutical Health Industry Co., is under investigation for serious violations of discipline and law [16]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600056 证券简称：中国医药 公告编号：临2025-086号 中国医药健康产业股份有限公司 关于公司涉及诉讼事项的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示: ● 案件所处的诉讼阶段：二审 ● 上市公司所处的当事人地位：上诉人 ● 涉案的金额：13,940.41万元 公司已在法定期限内就北京市第二中级人民法院（"一审法院"）作出的（2024）京02民初1131号民事判 决书（"一审判决"）依法提起上诉，西藏天晟亦就一审判决提起上诉。 三、本次诉讼案件对公司的影响 截至本公告披露日，本次诉讼二审尚未开庭审理，最终审理结果存在不确定性。公司将根据上述诉讼事 项进展情况履行相关信息披露义务，敬请广大投资者注意投资风险。 特此公告。 中国医药健康产业股份有限公司董事会 2025年11月22日 证券代码：600056 证券简称：中国医药 公告编号：临2025-087号 ● 是否会对上市公司损益产生负面影响：截至本公告披露日，本次诉讼二审尚未开庭审 ...

Group 1: Shareholding Changes - Company Zhaoyi Innovation announced that several directors and senior management personnel plan to reduce their holdings by a total of 249,000 shares, with specific reductions from the vice chairman and general manager, as well as other vice presidents [1] - Company Super Aerospace announced a stock suspension due to its controlling shareholders planning a significant matter that may lead to a change in control [2] - Company Haosai is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [5] Group 2: Major Contracts and Projects - Company Dajin Heavy Industry's wholly-owned subsidiary signed a contract worth approximately 1.339 billion yuan for a European offshore wind farm project, which represents 35.41% of the company's audited revenue for 2024 [3] - Company Ruifeng New Materials plans to increase capital by 200 million yuan in a related party to advance a lithium hexafluorophosphate project [6] Group 3: Regulatory Actions - Company Jushi Chemical received a notice from the CSRC regarding an investigation for suspected violations of information disclosure laws [4] - Company Huosai is also under investigation by the CSRC for similar reasons [5] Group 4: Investment and Acquisitions - Company Gao Neng Environment plans to acquire 45.2% equity in three mining companies [7] - Company Aerospace Electric intends to purchase 32% equity in Shenzhen Aerospace Electric Motor System Co., Ltd. through public bidding [8]

Core Points - China National Pharmaceutical Group Corporation (referred to as "China Pharmaceutical") disclosed a lawsuit update on November 22, involving a performance compensation contract dispute amounting to 139.4041 million yuan (approximately 1.39 billion yuan) [1] - The lawsuit originated from a performance compensation contract dispute that occurred in October 2024, with China Pharmaceutical as the plaintiff against Tibet Tiansheng Taifeng Pharmaceutical Co., Ltd. and Xu Panfeng [1] - The first-instance court has made a civil judgment, but both China Pharmaceutical and Tibet Tiansheng have appealed the decision, and the case is currently in the second-instance stage, awaiting trial [1] Summary by Sections Lawsuit Details - The lawsuit involves a total amount of 139.4041 million yuan, primarily concerning disputes over the performance compensation contract [1] - As of the announcement date, the second-instance trial has not yet commenced, and the final outcome remains uncertain [1] Company Actions - China Pharmaceutical has previously disclosed relevant information regarding the lawsuit through temporary announcements and regular reports on October 12, 2024, and October 11, 2025 [1]

Core Viewpoint - China Medical (600056.SH) announced that its wholly-owned subsidiary, Hainan Tongyong Kangli Pharmaceutical Co., Ltd. (referred to as "Kangli Pharmaceutical"), has received two approval notices for the injectable drug Ganciclovir from the National Medical Products Administration (NMPA) [1] Group 1 - The injectable Ganciclovir has passed the consistency evaluation of quality and efficacy for generic drugs [1] - Ganciclovir is primarily used for treating life-threatening or vision-threatening cytomegalovirus infections in immunocompromised patients, as well as for preventing cytomegalovirus infections in organ transplant patients [1]

证券代码：600056 证券简称：中国医药 公告编号：临 2025-086 号 三、本次诉讼案件对公司的影响 中国医药健康产业股份有限公司 关于公司涉及诉讼事项的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示: 是否会对上市公司损益产生负面影响：截至本公告披露日，本次诉讼二 审尚未开庭审理，最终结果存在不确定性。 一、本次诉讼案件的基本情况 2024 年 10 月，因业绩补偿引起的合同纠纷，公司作为原告向北京市第二中 级人民法院提交《民事起诉状》，对西藏天晟泰丰药业股份有限公司（以下简称 "西藏天晟"）及徐攀峰提起诉讼，北京市第二中级人民法院已做出一审判决。 其他相关内容详见公司分别于 2024 年 10 月 12 日、2025 年 10 月 11 日在上海证 券交易所网站(www.sse.com.cn)披露的临 2024-055 号《关于公司涉及诉讼事项 的公告》、临 2025-078 号《关于公司涉及诉讼事项的进展公告》、2024 年年度 报告及 2025 年半年度报告。 二、本次诉讼案件进展情况 ...

药品名称：注射用更昔洛韦 受理号：CYHB2450530、CYHB2450531 证券代码：600056 证券简称：中国医药 公告编号：临 2025-087 号 中国医药健康产业股份有限公司 关于子公司药品通过仿制药一致性评价的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 近日，中国医药健康产业股份有限公司（以下简称"公司"）下属全资子公 司海南通用康力制药有限公司（以下简称"康力药业"）收到国家药品监督管理 局（以下简称"国家药监局"）核准签发的两份注射用更昔洛韦（以下简称"该 药品"）《药品补充申请批准通知书》，该药品通过仿制药质量和疗效一致性评 价。现将有关情况公告如下： 一、药品补充申请批准通知书基本信息 上市许可持有人：海南通用康力制药有限公司 审批结论：根据《中华人民共和国药品管理法》、《国务院关于改革药品医 疗器械审评审批制度的意见》（国发［2015］44号）、《关于仿制药质量和疗效 一致性评价工作有关事项的公告》（2017年第100号）和《国家药监局关于开展 化学药品注射剂仿制药质量和疗效一致性评价工作 ...

Core Viewpoint - The company has initiated a lawsuit against Tibet Tiansheng Taifeng Pharmaceutical Co., Ltd. and Xu Panfeng due to a contract dispute arising from performance compensation, with the case now in the second instance stage [1] Group 1: Legal Proceedings - The lawsuit was filed in October 2024, and both the company and Tibet Tiansheng have appealed within the legal timeframe after the first-instance judgment [1] - The amount involved in the case is 139.4041 million yuan [1] - As of the announcement date, the second-instance hearing has not yet commenced, leading to uncertainty regarding the final outcome [1]

【导读】中国医药原党委委员、总经理助理李欣接受审查调查 医药反腐最新消息，李欣被查！ 11月21日，"廉洁通用"官微通报：中国医药（600056）健康产业股份有限公司原党委委员、总经理助理李欣涉嫌严重违纪违法，目前正接受中央纪委 国家监委驻通用技术集团纪检监察组纪律审查和山东省德州市监察委员会监察调查。 公开信息显示，李欣出生于1962年，中共党员，研究生学历，硕士学位，药剂师。 李欣长期从事医药行业相关工作。1997年6月至2004年12月，李欣任北京永正医药有限公司总经理；2004年12月至2009年3月，任北京华立永正医药 有限公司总经理，兼任华立医药集团总裁；2009年4月至2016年12月，任美康永正总经理。 2016年12月，李欣出任中国医药总经理助理。2022年9月30日盘后，中国医药发布公告称，因将于2022年10月7日达到法定退休年龄，李欣申请辞去 公司总经理助理职务。辞职后，李欣仍继续担任中国医药下属子公司其他职务。 据悉，中国医药健康产业股份有限公司（中国医药）是通用技术集团控股的上市公司，其前身为1983年成立的中国医药保健品进出口总公司，1999 年加入通用技术集团，是通用技术集团旗 ...