Group 1 - The central bank has indicated a potential reduction in reserve requirements and interest rates, leading to market uncertainty and cautious trading behavior among retail investors [1] - NIO plans to issue up to 118,793,300 Class A ordinary shares to raise funds for the development of core technologies and new products in smart electric vehicles [1] - Industrial profits for large-scale enterprises in January-February decreased by 0.3% year-on-year, with manufacturing showing a notable improvement of 4.8% [3][4] Group 2 - The chemical sector has seen a collective surge, with specific stocks like Huatai reaching their daily limit [6] - Sulfuric acid prices have increased by 66% since February 7, and sulfur prices have risen by over 49% since February 3, indicating strong demand [6] - The pharmaceutical sector is experiencing positive sentiment due to rumors of policy optimization in drug procurement [5][6] Group 3 - China's crude oil demand is showing signs of recovery, with average daily imports increasing by 5.7% year-on-year [10][12] - The operating rate of private refineries has rebounded to 46.12% as of March 21, indicating a recovery in domestic oil product demand [12] - The A-share market saw a slight rebound with the Shanghai Composite Index rising by 0.15% and total market turnover reaching 12,170 billion [5][20] Group 4 - The medical and pharmaceutical sectors are leading the market, while sectors like non-ferrous metals and public utilities are experiencing declines [31][32] - The automotive and basic chemical sectors are seeing increased trading activity, with some sectors currently at historical low price-to-earnings ratios [31][32]

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue decreased by 10.6% to RMB 6,603.1 million compared to RMB 7,384.0 million in 2023[2]. - Gross profit fell by 21.3% to RMB 2,242.0 million, down from RMB 2,848.5 million in the previous year[2]. - Net profit attributable to the company's owners dropped by 80.0% to RMB 405.1 million, compared to RMB 2,024.8 million in 2023[2]. - The company's cash and cash equivalents decreased significantly by 72.3% to RMB 2,048.5 million from RMB 7,399.9 million[3]. - The gross profit margin declined to 34.0% from 38.6%, representing a decrease of 4.6 percentage points[2]. - The company's total revenue decreased by 10.6% from RMB 7,384.0 million to RMB 6,603.1 million during the reporting period[37]. - Revenue from the clinical trial technology services segment fell by 23.8% from RMB 4,168.1 million to RMB 3,178.1 million[39]. - Revenue from clinical trial-related services and laboratory services increased by 6.5% from RMB 3,215.9 million to RMB 3,425.0 million[37]. - Revenue in China decreased by 16.2% from RMB 4,234.5 million to RMB 3,547.9 million, primarily due to a decline in clinical trial technology services[37]. - Overseas revenue slightly decreased by 3.0% from RMB 3,149.5 million to RMB 3,055.2 million, but showed growth when excluding specific vaccine-related income[38]. - The net profit for the period dropped by 79.2% from RMB 2,149.9 million to RMB 447.8 million, with profit attributable to shareholders decreasing by 80.0% from RMB 2,024.8 million to RMB 405.1 million[73]. - The non-IFRS net profit attributable to shareholders, excluding non-recurring items, was RMB 854.9 million, a decrease of 42.1% compared to RMB 1,477.2 million in the same period last year, with a profit margin decline from 20.0% to 12.9%[79]. Industry Trends and Developments - The domestic biopharmaceutical industry is expected to recover, with the clinical research outsourcing market projected to grow at an average annual rate of 12.6% from 2024 to 2028, reaching approximately RMB 75 billion by 2028[6]. - In 2024, the National Medical Products Administration approved 48 new Class I innovative drugs, an increase of 8 compared to 2023, marking a historical high[7]. - The number of clinical trials for innovative drugs reached 1,859, positioning China as the second globally in the number of new drugs under development[7]. - The biopharmaceutical industry is transitioning from "scale expansion" to "value creation," indicating a shift towards high-quality innovation[8]. - The Chinese government has increased support for innovative drug development, with policies covering research, review, application, payment, and financing across the entire chain of innovative drug development[10]. - By 2025, the Chinese government plans to implement a multi-payment mechanism for innovative drugs, enhancing support for pharmaceutical productivity development[11]. - The trend of outbound licensing transactions reflects the global market's high recognition of Chinese innovative drug companies' research and development products[12]. - The focus on innovative drug development has been highlighted in the 2024 government work report, emphasizing the importance of this emerging industry[10]. - The clinical trial review and approval reform aims to complete the review of innovative drug clinical trial applications within 30 working days[10]. - The application of AI technology is expected to enhance efficiency and cost optimization in clinical trials, leading to significant innovations in existing service models of clinical CROs[131]. Company Strategy and Operations - The company plans to distribute a final dividend of RMB 3.0 per 10 shares for the fiscal year ending December 31, 2024[3]. - The company achieved a net new contract amount of RMB 8.4 billion in 2024, representing a year-on-year growth of 7.3%, with a total contract amount to be executed reaching RMB 15.8 billion, up 12.0% year-on-year[15]. - The number of new customers increased by 22% year-on-year, driven by improved customer management strategies[14]. - The company established a Clinical Operations Strategy Committee to enhance clinical project success rates and facilitate order conversion[16]. - The company expanded its overseas clinical CRO business, with new contracts, revenue, and profits all experiencing rapid growth in 2024[17]. - The company maintained its leading position in the Chinese clinical outsourcing service market, with a market share ranking first according to data from the Ministry of Science and Technology[13]. - The company actively explored business opportunities from large multinational pharmaceutical companies and overseas clinical research, contributing to its growth in the domestic market[15]. - The company aims to enhance its end-to-end service capabilities through a unified clinical research service platform and expand its business with multinational and large domestic pharmaceutical companies[25]. - The company is focusing on digitalization and AI technology to improve efficiency and automation in clinical research and biopharmaceuticals[28]. - The company has established a Digital Advancement Center to drive its digital and intelligent strategy, with plans to implement AI across various business operations by early 2025[31]. Financial Position and Investments - The company's total assets as of December 31, 2024, amounted to RMB 28,671,015,787.16, a decrease from RMB 29,680,742,349.17 at the end of the previous year, reflecting a decline of approximately 3.4%[178][180]. - Current assets decreased significantly to RMB 6,299,685,225.86 from RMB 11,344,141,125.21, representing a drop of about 44.5% year-over-year[178]. - The company's cash and cash equivalents fell to RMB 2,055,344,830.04, down from RMB 7,419,991,842.25, indicating a decrease of approximately 72.3%[178]. - Total liabilities decreased to RMB 4,606,536,600.57 from RMB 5,227,180,203.91, a reduction of about 11.9%[180]. - The company's equity attributable to shareholders decreased to RMB 20,670,653,449.72 from RMB 21,026,774,725.75, reflecting a decline of approximately 1.7%[180]. - Long-term equity investments increased to RMB 3,424.6 million, mainly due to an investment of RMB 500.0 million in Hangzhou Taikun Equity Investment Fund[96]. - The total outstanding borrowings as of December 31, 2024, were RMB 2,315.8 million, with a short-term borrowing portion of RMB 1,992.2 million and a long-term borrowing portion of RMB 323.6 million[103]. - The company plans to utilize proceeds from fundraising to expand and enhance clinical trial technical services, repay bank loans, and for general corporate purposes[127]. - The company has accumulated experience in over 4,000 clinical trial projects, including more than 910 Phase I clinical trials for Class 1 drugs in China and over 140 international multi-regional clinical trials[116]. Employee and Governance - The global employee count reached 10,185, with over 1,600 overseas employees, reflecting growth due to the acquisition of Shanghai Guanhua Medical Technology Co., Ltd.[24]. - The company has established a labor union in China to represent employees in the formulation of company policies and internal regulations[153]. - The company has adopted the corporate governance code and has complied with its principles and provisions during the reporting period[154]. - The company has implemented a competitive salary and benefits package to attract, motivate, and retain employees[153]. - The company has conducted regular reviews of its workforce to ensure optimal talent composition to meet service demands[153]. - The company recognizes the importance of high-quality and stable employees for delivering quality services to clients and is committed to improving recruitment and training programs[152]. Risks and Challenges - The company faces risks related to obtaining and maintaining necessary regulatory approvals, licenses, and permits, which could significantly disrupt operations if not secured[144]. - There is a risk of losing customers if their expectations are not met, potentially leading to a reduction in revenue and inability to attract new clients[145]. - The loss of major clients or contracts could have a substantial negative impact on the company's business and financial performance[146]. - The company is facing increased payment risks from some clients due to financial difficulties, leading to order cancellations[40]. - The global pharmaceutical contract research organization market is becoming increasingly competitive, and failure to effectively compete could lead to reduced revenue and profitability[141]. - The company plans to continue selective acquisitions and investments to drive growth, but failure to identify suitable targets could adversely affect financial results[147].

Dividend Distribution - The company plans to distribute a cash dividend of 3 RMB per 10 shares to all shareholders, based on a total of 855,142,270 shares[4]. - The board of directors has approved the profit distribution plan, which includes no bonus shares and no capital increase from reserves[4]. - The company plans to distribute a cash dividend of 5.68 RMB per 10 shares for the 2023 fiscal year, totaling approximately 491.29 million RMB (including tax) based on a share base of 864,948,570 shares after accounting for repurchased shares[172]. - The total cash dividend amount, including repurchased shares, for the 2024 fiscal year is projected to be 447.69 million RMB, which represents 100% of the distributable profit of approximately 8.69 billion RMB[174]. - The company has not proposed any stock bonus shares for the 2023 fiscal year, maintaining a cash-only dividend policy[173]. - The cash dividend distribution plan complies with the company's articles of association and has been approved by the shareholders' meeting[173]. - The company has completed the implementation of the 2023 dividend distribution plan by the end of the reporting period[172]. - The company has not made any adjustments to its cash dividend policy during the reporting period, ensuring transparency and compliance with regulations[174]. Financial Performance - Tigermed reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a year-over-year growth of 25%[19]. - The company's operating revenue for 2024 was ¥6,603,120,162.78, a decrease of 10.58% compared to ¥7,384,039,460.88 in 2023[23]. - The net profit attributable to shareholders for 2024 was ¥405,143,491.82, down 79.99% from ¥2,024,849,989.11 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥854,895,425.22, a decrease of 42.13% from ¥1,477,242,053.32 in 2023[23]. - The basic earnings per share for 2024 was ¥0.47, down 79.91% from ¥2.34 in 2023[23]. - The total assets at the end of 2024 were ¥28,671,015,787.16, a decrease of 3.40% from ¥29,680,742,349.17 at the end of 2023[23]. - The company achieved a net new contract amount of RMB 8.42 billion in 2024, representing a year-on-year growth of 7.3%, with total pending contracts amounting to RMB 15.78 billion, up 12.1%[54]. - The company’s main business revenue for the reporting period was 647,408.51 million yuan, a decrease of 11.18% compared to the same period last year[71]. - Clinical trial technical service revenue was 317,813.99 million yuan, down 23.75% year-on-year, primarily due to a decline in domestic innovative drug clinical operations[71]. - The gross profit for the main business was CNY 2,153.78 million, a decrease of 22.62% compared to the previous year, with a gross profit margin dropping from 38.18% to 33.27%[82]. - The clinical trial technology service segment reported a gross profit of CNY 939.51 million, down 41.00% year-on-year, with a gross profit margin declining from 38.21% to 29.56%[83]. Strategic Direction and Market Expansion - The annual report outlines the company's strategic direction, including potential market expansions and new product developments[4]. - Tigermed anticipates continued growth, projecting a revenue increase of 20% for the next fiscal year, targeting 1.44 billion RMB[19]. - The company is focused on expanding its clinical research capabilities and enhancing its service offerings in the pharmaceutical sector[13]. - Tigermed is pursuing market expansion strategies, with plans to enter three new international markets by the end of the next fiscal year[19]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $200 million allocated for potential targets[148]. - The company is actively investing in early-stage biopharmaceutical and medical device startups, leveraging its industry reputation and expertise to identify investment opportunities[44]. Operational Efficiency and Cost Management - Tigermed's operational efficiency improved, with a reduction in operational costs by 5%, leading to a higher profit margin of 18%[19]. - The company reported a 10% reduction in operational costs due to efficiency improvements implemented in the last quarter[150]. - The total operating cost was ¥4,320,302,084.19, with a year-on-year decrease of 4.12%[90]. Research and Development - The company is investing heavily in R&D, allocating 10% of its revenue, approximately 120 million RMB, towards new product development and technological advancements[19]. - The number of R&D personnel increased by 11.99% to 1,046 in 2024 from 934 in 2023[101]. - R&D expenditure as a percentage of operating revenue rose to 3.61% in 2024 from 3.54% in 2023[102]. - The company is developing an AI-based document automation processing system to enhance the efficiency and accuracy of clinical trial document handling[69]. - The company aims to enhance AI capabilities and expand application scenarios while ensuring high compliance standards[70]. Compliance and Governance - The company emphasizes the importance of accurate financial reporting and has ensured that all board members attended the meeting to review the annual report[4]. - The company maintains a robust governance structure, ensuring accountability and transparency in its operations[4]. - The company has established a quality management system that integrates digital, intelligent, and remote methods, aiming to enhance clinical operational efficiency and quality management capabilities[43]. - The company has a robust internal control system in place to manage risks effectively and ensure compliance with regulatory requirements[178]. - The company did not identify any significant internal control deficiencies during the reporting period[179]. Risks and Challenges - The company faces risks from potential natural disasters, pandemics, and other emergencies that could adversely affect its operations and financial performance[122]. - Demand for biopharmaceutical research services may decline if the global pharmaceutical market growth slows or if clients reduce their R&D budgets[123]. - The company is exposed to intensified competition in the global clinical contract research organization (CRO) market, which could pressure pricing and impact revenue[124]. - Future business expansion may fail if the company cannot effectively manage growth or implement its strategic initiatives[124]. - The company must maintain various regulatory approvals and licenses; failure to do so could severely impact its operations and financial health[125]. Employee and Talent Management - The total number of employees at the end of the reporting period is 10,185, with 1,770 in the parent company and 8,415 in major subsidiaries[167]. - The professional composition includes 8,982 technical personnel, 354 sales personnel, and 164 financial personnel[167]. - The company aims to build a diverse talent pool to meet future development needs, focusing on internal talent mobility and employee training[170]. - The global talent value proposition emphasizes inspiring potential and providing comprehensive career growth opportunities[171]. Shareholder Engagement and Communication - The company emphasizes investor communication and has established multiple channels for interaction, including performance briefings and an investor relations platform on its website[133]. - The company held its first temporary shareholders' meeting on March 21, 2024, with an investor participation rate of 44.01%[143]. - The annual shareholders' meeting on May 24, 2024, recorded a participation rate of 46.67%[143]. Acquisitions and Partnerships - The company has completed two strategic acquisitions in the past year, enhancing its service offerings and market reach[19]. - The company acquired Japan's CRO Medical Edge Co., Ltd. in July 2024, strengthening its data management and clinical data services in Japan and the Asia-Pacific region[58]. - The company acquired a 72.82% stake in Shanghai Guanho Pharmaceutical Technology Co., Ltd. during the reporting period[95]. - The company has established partnerships with five leading pharmaceutical firms to enhance its clinical trial services[19].

3月27日，泰格医药今日收盘55.39元，上涨4.31%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到49.97倍，总市值479.10亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)31泰格医药49.9723.662.27479.10亿行业平均 44.4436.563.80166.76亿行业中值43.6934.112.8451.38亿1昭衍新药-18045.8841.502.06164.74亿2普瑞眼 科-185.6823.212.8062.18亿3何氏眼科-163.8450.231.6531.92亿4迪安诊断-108.4432.651.42100.37亿5光正眼 科-96.91230.247.8121.31亿6南华生物-88.23-116.0913.1532.71亿7创新医疗-86.66-121.112.2541.52亿8国际 医学-35.91-34.923.52128.62亿9嘉和美康-29.90-29.902.5144.84亿10皓宸医疗-24.98-25.735.4224.28亿11美 迪西-14.06-14.061.8944.42亿 从行业市盈率排名来看，公司所处的医疗 ...

Core Viewpoint - The recent exclusive licensing agreement between Novo Nordisk and a Chinese innovative drug company for the weight loss drug UBT251, valued at up to $2 billion, highlights the global recognition of China's innovative pharmaceutical capabilities [1] Group 1: Market Performance - The Hong Kong innovative drug ETF (159567) rose by 0.44% today, marking two consecutive days of net capital inflow [1] - The average daily trading volume of the Hong Kong innovative drug ETF over the past month was 189 million yuan, ranking first in liquidity among indices [1] - The Hong Kong stock market saw a slight rebound on March 26, with the innovative drug sector continuing to recover amid increased market attention on domestic innovative drug companies [1] Group 2: Company Performance - Major companies in the Hong Kong innovative drug index showed positive performance, with three companies, including 3SBio, rising over 10%, and several others, such as WuXi AppTec and Kintor Pharmaceutical, increasing by over 4% [2] - Recent financial reports from leading drug companies indicate a positive trend in fundamentals, with WuXi AppTec achieving a record high quarterly revenue in Q4 2024 and a 47% year-on-year increase in order size [3] - Hansoh Pharmaceutical reported a 33.4% year-on-year increase in net profit for 2024, with innovative drug revenue accounting for 77.3% of total revenue [3] Group 3: Industry Trends - The share of China's pharmaceutical licensing transactions valued over $5 million has increased from less than 5% in 2020 to approximately 30% in 2024 [3] - In the first two months of 2025, there were 16 licensing projects for Chinese innovative drugs, accounting for nearly 50% of global transaction value [3] - The innovative drug sector in Hong Kong is expected to have greater valuation expansion potential compared to A-shares, driven by higher R&D expenditure and overseas revenue ratios [4]

泰格医药收盘下跌1.80%，滚动市盈率48.64倍，总 市值466.29亿元 3月24日，泰格医药今日收盘53.91元，下跌1.80%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到48.64倍，总市值466.29亿元。 从行业市盈率排名来看，公司所处的医疗服务行业市盈率平均44.02倍，行业中值43.09倍，泰格医药排 名第31位。 杭州泰格医药科技股份有限公司专注于为新药研发提供临床试验全过程专业服务的合同研究组织 (CRO)，为全球医药和医疗器械创新企业提供全面而综合的临床研究解决方案。主要产品为临床试验技 术服务、临床试验相关服务及实验室服务等。公司是中国领先的综合生物制药研发服务提供商,且全球 的影响力正在不断扩大。 最新一期业绩显示，2024年三季报，公司实现营业收入50.68亿元，同比-10.32%；净利润8.13亿元，同 比-56.72%，销售毛利率38.88%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)31泰格医药48.6423.032.21466.29亿行业平均 44.0236.433.77165.13亿行业中值43.0933.112.8549.18亿1昭衍新药 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於 二 零 二 五 年 三 月 二 十 七 日（星 期 四）舉 行，藉 以（其 中 包 括）審 議 及 批 准 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 的 全 年 業 績 及 其 刊 發，以 及 考 慮 建 議 派 發 末 期 股 息（如 適 用）。 承董事會命 杭州泰格醫藥科技股份有限公司 董事長 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭州泰格醫藥科技股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：3347） 董事會會議召開日期 ...

Group 1 - The establishment of Tiger Med (Shenzhen) Pharmaceutical Technology Co., Ltd. has been reported, with a registered capital of 1 million yuan [1] - The legal representative of the new company is Shan Bin, and its business scope includes medical research and experimental development, translation services, conference and exhibition services, market research (excluding foreign-related investigations), technology import and export, and data processing services [1] - Tiger Med holds indirect full ownership of the newly established company [1]

Core Viewpoint - Zhejiang Province has experienced significant population growth, leading the nation in population increase for four consecutive years, attributed to its robust private economy and wealth distribution model [1][11][28]. Population Growth - In 2024, Zhejiang's permanent population reached 66.7 million, an increase of 430,000 from 2023, marking the highest growth among provinces that have reported data [1][5]. - From 2021 to 2024, Zhejiang's population increased by 2.02 million, with annual increases of 720,000 in 2021, 370,000 in 2022, and 500,000 in 2023 [2][3]. Comparison with Other Provinces - Among the 31 provinces, only six have reported population data, with Zhejiang being the only one showing positive growth [1][4]. - In contrast, Guangdong's population growth remains uncertain, with Shenzhen reporting an increase of 199,400, nearly double that of Hangzhou [6][7]. Economic Strength - Zhejiang's private economy is a key driver of its population growth, contributing over 50% of tax revenue, 60% of GDP, and 90% of new employment [11][12]. - The private sector's value added is projected to account for 67.4% of the province's GDP in 2024, with a total of 10.95 million registered businesses [12][15]. Industrial Development - Zhejiang's industrial structure is characterized by a mix of traditional and emerging industries, with a focus on digital economy, advanced manufacturing, and trade services [21][24]. - The province's digital economy is projected to contribute significantly to GDP, with core industry value added expected to reach 7.6 billion yuan in 2024 [24][33]. Wealth Distribution - Zhejiang ranks third in per capita disposable income in China, with an expected income of 67,013 yuan in 2024, significantly higher than many other provinces [28][29]. - The province's cities, including Hangzhou and Ningbo, dominate the list of cities with the highest per capita disposable income [29]. Talent Acquisition Strategies - Hangzhou has implemented aggressive talent acquisition strategies, offering substantial living subsidies to attract high-educated individuals [30][32]. - The city aims to enhance its manufacturing sector, focusing on high-tech industries and innovation-driven development [34][35].

Investment Rating - The report assigns an "Overweight" rating to the pharmaceutical industry, indicating that the industry is expected to outperform the benchmark index over the next 12 months [33]. Core Insights - The pharmaceutical sector is experiencing a recovery, with significant growth in sub-sectors such as internet healthcare, biotechnology, and medical devices, which saw increases of 36%, 34%, and 24% respectively in February 2025 [3][6]. - The report highlights the government's encouragement of innovative drug development, including discussions on expanding payment channels for innovative drugs and the potential establishment of a category for innovative drugs in the insurance framework [4][24]. - The medical device market is showing signs of recovery, with the domestic medical imaging equipment market growing over 47% year-on-year in January 2025, and an increase in the number of CT devices awarded contracts by 4.2% compared to the previous year [4][30]. Market Review - In February 2025, the Hang Seng Composite Industry Index rose by 12.8%, while the Hang Seng Healthcare Index increased by 16.3%, outperforming the market by 3.5 percentage points [3][6]. - The A-share market saw the Shanghai and Shenzhen 300 Index decline by 3% in January, with the pharmaceutical and biotechnology index dropping by 3.8%, but rebounding in February with a 5.1% increase [14]. - The report notes that all 13 sub-sectors in the pharmaceutical industry experienced declines in January, but several sub-sectors, including hospitals and medical devices, showed significant gains in February [14]. Industry Data Update - The report indicates that the basic medical insurance revenue for January 2025 reached 314.3 billion yuan, a year-on-year increase of 10.4%, with expenditures growing by 8.5% [17]. - The commercial health insurance sector is also expanding, with original premium income reaching 977.3 billion yuan in 2024, reflecting an 8.2% year-on-year growth [20]. - Medical device exports, particularly for ECG recorders, ultrasound diagnostic devices, and CT machines, have accelerated in both quantity and value since the second half of 2024 [21]. Industry News Summary - The National Healthcare Security Administration held a meeting to support innovative drug development, engaging with major pharmaceutical companies to discuss strategies for enhancing the market for innovative drugs [23][24]. - A draft opinion on improving the drug pricing mechanism has circulated, proposing measures to support innovative drug development and enhance drug accessibility [28]. - The report mentions ongoing efforts to regulate prices in the healthcare sector, including a comprehensive governance initiative for central venous catheter pricing, which has led to significant price reductions for related medical services [29][30].