创新药行情延续，医疗创新ETF(516820)盘中拉升

Group 1 - The core viewpoint is that the dual-track system of "medical insurance + commercial insurance" is being implemented to address the payment challenges of high-priced innovative drugs, with the first directory set to be launched in October 2025 [1] - The commercial health insurance is recognized as an important payer for innovative drugs, which is expected to accelerate the market release of these drugs [1] - In the first half of 2025, the transaction value of China's innovative drug License-out exceeded $66 billion, surpassing the total for 2024, with over 60% of this value attributed to cutting-edge technologies such as ADC and bispecific antibodies [1] Group 2 - The medical innovation ETF (516820) has shown a 7.46% increase over the past three months and an 18.38% return over the past year, outperforming the industry benchmark [1] - The ETF closely tracks the China Securities Pharmaceutical and Medical Device Innovation Index, providing low fees, high transparency, and coverage of leading companies, making it a valuable tool for investing in core pharmaceutical assets [1] - Future projections indicate that total healthcare spending in China will continue to grow sustainably, with innovation, consumption upgrades, and high-end manufacturing being key drivers for investment opportunities [2]