Core Points - The National Healthcare Security Administration announced the 2025 National Medical Insurance Drug List, which will take effect on January 1, 2026, adding 114 new drugs, including 50 innovative drugs, while removing 29 drugs that are either unavailable or can be replaced by better alternatives [2][4] Group 1: Drug List Adjustments - The total number of drugs in the directory has increased to 3,253, comprising 1,857 Western medicines and 1,396 traditional Chinese medicines, with significant improvements in coverage for key areas such as cancer, chronic diseases, mental illnesses, rare diseases, and pediatric medications [2][4] - The 2025 adjustment marks the 8th update since the establishment of the National Healthcare Security Administration [7] Group 2: Company Announcements - 15 A-share pharmaceutical companies announced that their products have been included in the new directory, with many innovative drug companies benefiting from this inclusion [4] - Zai Lab's drug, Jikaxitinib, has been included in the directory, which is expected to enhance sales and improve patient accessibility [4] - Junshi Biosciences reported that its products, including Toripalimab and an additional indication for another drug, have been successfully included in the directory [4] - Innovent Biologics' drug, IBI301, has also been added to the new directory, marking a significant milestone for the company [5] - Leading A-share pharmaceutical companies like Fosun Pharma, East China Pharmaceutical, and Heng Rui Medicine have also had several products included, with Heng Rui reporting a combined sales figure of approximately 8.66 billion yuan for the newly added drugs in 2024 [6][7]

Core Viewpoint - The 2025 National Medical Insurance Drug List has been announced, including 114 new drugs, with a focus on innovative drugs and significant improvements in coverage for key areas such as oncology and chronic diseases [4][9]. Group 1: Drug List Adjustments - The 2025 National Medical Insurance Drug List will be implemented on January 1, 2026, with a total of 3,253 drugs, including 1,857 Western medicines and 1,396 traditional Chinese medicines [4]. - The list includes 50 first-class innovative drugs and removes 29 drugs that are either not clinically available or can be replaced by better alternatives [4]. Group 2: Impact on A-Share Companies - 15 A-share pharmaceutical companies announced that their products were included in the new drug list, particularly benefiting innovative drug companies [6]. - Zai Lab's drug, Jikaxitinib, was included, which is used for treating specific types of myelofibrosis, enhancing its market accessibility and sales potential [6]. - Junshi Biosciences reported that its products, including Toripalimab and Oncorine, were added to the list, with all four of its commercialized products now covered [6]. Group 3: Major Pharmaceutical Companies - Leading A-share pharmaceutical companies like Fosun Pharma, Hengrui Medicine, and others have also had products included in the new list, with Hengrui having 10 drugs added and several others with new indications [7]. - Hengrui's drugs are projected to generate approximately 8.66 billion yuan in sales for 2024 and about 7.55 billion yuan for the first three quarters of 2025 [8]. Group 4: Complementary Innovations - In addition to the basic medical insurance list, 19 drugs have been added to the first version of the commercial insurance innovative drug list, including treatments for rare diseases and Alzheimer's, providing a complementary framework to the basic insurance [9].

Core Viewpoint - The 2025 National Medical Insurance Drug List has been released, adding 114 new drugs, including 50 innovative drugs, while removing 29 drugs that are no longer clinically available or can be replaced by better alternatives [2][5]. Group 1: New Additions to the Drug List - A total of 15 A-share pharmaceutical companies announced that their products have been included in the new drug list, particularly benefiting many innovative drug companies [5]. - Zai Lab's drug, Jikaxitinib, has been included in the National Medical Insurance Drug List, which is expected to enhance sales and improve patient accessibility [5][6]. - Junshi Biosciences has added two new indications for its drug, Toripalimab, and successfully included another drug, Oncorine, in the Class B category of the National Medical Insurance List [5]. Group 2: Impact on Major Pharmaceutical Companies - Leading A-share pharmaceutical companies such as Fosun Pharma, East China Pharmaceutical, and Hengrui Medicine have also had products included in the National Medical Insurance List [7]. - Hengrui Medicine has 10 drugs newly added to the list, with a total sales revenue of approximately 8.66 billion yuan in 2024 and about 7.55 billion yuan in the first three quarters of 2025 [8]. - The inclusion of these drugs in the National Medical Insurance List is expected to positively impact sales, although the exact effect on operating performance is currently uncertain [8]. Group 3: Overall Changes in the Drug List - The total number of drugs in the National Medical Insurance Drug List has increased to 3,253, with significant improvements in coverage for key areas such as cancer, chronic diseases, mental illnesses, rare diseases, and pediatric medications [2]. - This adjustment marks the 8th update since the establishment of the National Medical Insurance Bureau, indicating ongoing efforts to enhance drug accessibility and affordability [8].

Core Viewpoint - The 2025 National Medical Insurance Drug List has been released, including 114 new drugs, with a focus on innovative drugs and significant improvements in coverage for key areas such as cancer, chronic diseases, and rare diseases [4][5][10]. Group 1: New Drug Inclusion - A total of 15 A-share pharmaceutical companies announced that their products have been included in the new drug list, particularly benefiting innovative drug companies [7]. - Zai Lab's drug, Jikaxitinib, has been included in the list, which is expected to enhance sales and market accessibility for patients [7]. - Junshi Biosciences has multiple products included, with two new indications for its drug Toripalimab and another drug successfully included in the Class B category [7]. Group 2: Impact on Major Pharmaceutical Companies - Leading companies like Hengrui Medicine have had 10 products included in the new list, with an estimated combined sales of approximately 8.66 billion yuan for 2024 and about 7.55 billion yuan for the first three quarters of 2025 [9]. - Other major players such as Fosun Pharma and Huadong Medicine also have products included, indicating a broad impact across the industry [8]. Group 3: Overall Drug List Changes - The total number of drugs in the directory has increased to 3,253, with 1,857 Western medicines and 1,396 traditional Chinese medicines [5]. - The adjustment marks the eighth update since the establishment of the National Medical Insurance Bureau, reflecting ongoing efforts to enhance drug accessibility and affordability [10].

Core Viewpoint - The company, Elysium (688578.SH), announced that its innovative drugs, Vemurafenib and Golecitinib, have been included in the National Medical Insurance Directory for 2025, indicating a significant advancement in their market access and potential for revenue growth [1] Group 1: Drug Inclusion in National Medical Insurance - Vemurafenib and Golecitinib have been included in the National Medical Insurance Directory for 2025, with Vemurafenib continuing to be covered for first-line and second-line treatment indications after negotiations [1] - Golecitinib has been included in the National Medical Insurance Directory for the first time for second-line treatment indications through negotiation [1] Group 2: Clinical Efficacy and Safety of Vemurafenib - Vemurafenib is an EGFR-TKI developed by the company, showing broad efficacy against various EGFR mutations, with a confirmed objective response rate (ORR) of 44.3% and a median progression-free survival (PFS) of 8.3 months in clinical studies [2] - The median overall survival (OS) observed so far is 21.2 months, indicating promising long-term outcomes for patients [2] - Vemurafenib has demonstrated good tolerability at a dosage of 240mg QD, with no new or unexpected safety signals reported [2] Group 3: Inclusion in Clinical Guidelines - Vemurafenib has been included in several authoritative domestic guidelines and consensus documents, such as the CSCO Non-Small Cell Lung Cancer Guidelines (2025 edition) [3] - The first global expert consensus focusing on EGFR PACC mutation NSCLC suggests considering Vemurafenib as a first-line treatment option for patients with advanced NSCLC based on current evidence [3]

Core Viewpoint - The company announced that its innovative drugs, Fumetinib and Goleirese, have been included in the National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug List for 2025, reflecting recognition of their clinical value and potential to reduce patient medication costs [1] Group 1 - Fumetinib is included for first-line and second-line treatment indications, with the agreement effective from January 1, 2026, to December 31, 2027 [1] - Goleirese is newly included for second-line treatment indications, with the same agreement period [1] - The inclusion of both drugs in the insurance list is expected to expand the beneficiary population, although sales promotion may face uncertainties due to market competition [1]

Core Viewpoint - The company艾力斯(688578.SH) announced that its innovative drugs, Fumetinib (trade name "艾弗沙") and Golecitinib (trade name "艾瑞凯"), have been included in the National Medical Insurance Directory for 2025, which is a significant development for the company's market access and potential revenue growth [1] Group 1 - Fumetinib has been retained in the National Medical Insurance Directory for first-line and second-line treatment indications after successful negotiations [1] - Golecitinib has been included in the National Medical Insurance Directory for second-line treatment indications for the first time through negotiation [1]

Core Viewpoint - Elysium (688578) announced that its innovative drugs, Fumetidine (brand name "Aifusha") and Goleirese (brand name "Airikai"), have been included in the National Medical Insurance Directory for 2025, enhancing their market accessibility and potential sales growth [1] Group 1 - Fumetidine has been retained in the National Medical Insurance Directory for first-line and second-line treatment indications after successful negotiations [1] - Goleirese has been included in the National Medical Insurance Directory for second-line treatment indications for the first time through negotiation [1]

Core Viewpoint - The company, Elysium (688578.SH), announced that its innovative drugs, Fumetinib and Golecitinib, have been included in the National Medical Insurance Catalog for 2025, which is a significant milestone for the company and its product offerings [1]. Group 1: Drug Inclusion in National Insurance - Fumetinib and Golecitinib have been included in the National Medical Insurance Catalog, with Fumetinib continuing to be covered for first-line and second-line treatment indications after negotiations [1]. - Golecitinib has been included in the National Medical Insurance Catalog for the first time for its second-line treatment indication through negotiation [1]. Group 2: Clinical Efficacy and Safety of Fumetinib - Fumetinib is an EGFR-TKI developed by the company, showing broad efficacy against various EGFR mutations, with a confirmed objective response rate (ORR) of 44.3% and a median progression-free survival (PFS) of 8.3 months in clinical studies [2]. - The median overall survival (OS) observed so far for Fumetinib is 21.2 months, indicating its potential as a leading treatment option for patients with EGFR 20 exon insertion mutation [2]. - Fumetinib has demonstrated good tolerability at a dosage of 240mg QD, with no new or unexpected safety signals reported [2]. Group 3: Guidelines and Recommendations - Fumetinib has been included in several authoritative domestic guidelines, such as the CSCO Non-Small Cell Lung Cancer Guidelines (2025 edition) and the Clinical Diagnosis and Treatment Guidelines for Gene-Positive Non-Small Cell Lung Cancer Brain Metastasis (2025 edition) [3]. - The first professional consensus document focusing on EGFR PACC mutation NSCLC recommends considering Fumetinib as a first-line treatment option for patients with advanced NSCLC based on current evidence [3].

Core Viewpoint - The company艾力斯 has announced that its innovative drugs,甲磺酸伏美替尼片 (brand name "艾弗沙", abbreviated as "伏美替尼") and 枸橼酸戈来雷塞片 (brand name "艾瑞凯", abbreviated as "戈来雷塞"), have been included in the National Medical Insurance Catalog for 2025, which is a significant development for the company's market position and potential revenue growth [1] Group 1 - The drug伏美替尼 has been retained in the National Medical Insurance Catalog for first-line and second-line treatment indications after negotiations [1] - The drug戈来雷塞 has been included in the National Medical Insurance Catalog for second-line treatment indications for the first time through negotiation [1]