创新药概念走高 药明康德、康龙化成等大幅拉升

Core Points - The innovative drug concept has gained momentum, with significant stock price increases for companies like Boteng Co., Ltd. (over 12% rise), Dezhan Health (limit up), and Chengdu Xian Dao (nearly 9% rise) [1] - The National Healthcare Security Administration and the Ministry of Human Resources and Social Security released the 2024 National Basic Medical Insurance Drug List, which aims to enhance drug supply security and improve the integration of commercial health insurance with basic medical insurance [1] - The updated drug list will include a total of 3,159 drugs, with 1,765 Western medicines and 1,394 traditional Chinese medicines. A total of 117 drugs outside the list participated in negotiations, with a success rate of 76% [1] - The average price reduction for negotiated drugs is 63%, alleviating the financial burden on patients and ensuring the sustainability of the medical insurance fund [1] - The new list includes 91 new drugs, of which 38 are "global new" innovative drugs, marking a record high in both proportion and absolute numbers. Over 70% of the new drugs are products from domestic companies [1] Industry Insights - In the first ten months of this year, the medical insurance fund's payment for negotiated drugs reached approximately 92 billion yuan, which is 21 times that of the same period in 2019 [2] - The cumulative payment by the medical insurance fund for negotiated drugs has exceeded 350 billion yuan, benefiting 830 million patients and reducing their financial burden by over 880 billion yuan [2] - The ongoing optimization of medical insurance policies and the establishment of a multi-tiered medical security system are expected to provide innovative drug companies with greater market share and revenue growth opportunities [2] - Companies with genuine innovative capabilities, such as Heng Rui Medicine, Innovent Biologics, Mindray Medical, United Imaging Healthcare, Yiling Pharmaceutical, and Kangyuan Pharmaceutical, are recommended for attention [2]