2 1 Shi Ji Jing Ji Bao Dao·2025-12-30 00:40Group 1: Regulatory Developments - The National Medical Products Administration (NMPA) held a meeting to summarize the regulatory achievements of 2025 and discuss key work for 2026, emphasizing the need for comprehensive regulatory reforms in the cosmetics industry [1] - The meeting highlighted that the Chinese cosmetics market is projected to reach a total transaction value of 1,073.82 billion yuan in 2024, indicating continuous market expansion [1] - Despite the growth, the industry faces structural issues, with over 20,000 registered cosmetics companies but low market concentration and a lack of globally influential brands [1] Group 2: Clinical Innovations and Approvals - The first non-injection epinephrine product, Neffy® (优敏速®), has been approved in China for emergency treatment of severe allergic reactions, marking a significant milestone in drug innovation [4] - HaiXiang Pharmaceutical announced the initiation of Phase II clinical trials for NWRD06, a novel nucleic acid drug aimed at preventing liver cancer recurrence, which is the first of its kind targeting the GPC3 marker [5] - Xinhua Medical received registration for two types of medical devices, enhancing its competitiveness in the in vitro diagnostics market [6] Group 3: Financing and Market Expansion - Beijing Ruifeng Biotechnology completed a C-round financing of over 100 million yuan, aimed at expanding its commercial capabilities and enhancing research and development in both human and animal health [8][9] - Humatrix Medical announced the completion of an A+ round financing of over 100 million yuan, which will be used to advance clinical trials for its core product and expand its product pipeline [10] Group 4: Healthcare Insurance and Spending - The National Healthcare Security Administration reported that from January to November 2025, the total income of the basic medical insurance fund reached 2.632 trillion yuan, with total expenditures of 2.110 trillion yuan, indicating stable fund operations [12]