本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 根据2025年12月7日国家医疗保障局、人力资源社会保障部发布的《国家基本医疗保险、生育保险和工 伤保险药品目录（2025年）》（以下简称"2025年国家医保目录"）以及首次发布的《商业健康保险创新 药品目录（2025年）》（以下简称"商保创新药目录"），上海复星医药（集团）股份有限公司及控股子 公司/单位（以下简称"本集团"）多款已上市产品获首次纳入或涉及备注信息调整，现将有关情况公告 如下： 一、新获纳入或涉及备注信息调整的主要品种 ■ 2025年国家医保目录、商保创新药目录将于2026年1月1日起执行。其中，2025年国家医保目录的具体医 保支付标准、医保报销细则、谈判药品的协议有效期等信息，须以国家医疗保障局等相关政府部门公示 信息为准。 前述新获纳入或涉及备注信息调整的药品2024年度及2025年前三季度的销售额合计分别约为人民币4.01 亿元、8.92亿元，分别约占同期本集团营业收入的0.98%、3.04%。本次新获纳入2025年国家医保目录/ 商保创新药目录将有利于 ...

Group 1 - The National Healthcare Security Administration and the Ministry of Human Resources and Social Security released a notification regarding the new National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Directory, as well as the Commercial Health Insurance Innovative Drug Directory for 2025 [1] - The company's subsidiary, Hangzhou Sino-American East Pharmaceutical Co., Ltd., has its product Ustinumab Injection adjusted to regular directory management, with changes in payment scope compared to the previous version [1] - The company's cooperative products, Senapali Capsules and Pentanoic Acid Linaclotide Capsules, have been included in the negotiated drug section, while Zewokiorunsai Injection is included in the Commercial Health Insurance Innovative Drug Directory [1] Group 2 - The new drug directory will officially take effect on January 1, 2026, and the relevant information regarding medical insurance payment standards and reimbursement details will be based on announcements from the National Healthcare Security Administration and other relevant government departments [1] - The inclusion of these products in the national medical insurance and commercial health insurance innovative drug directories is not expected to have a significant impact on the company's recent performance but is anticipated to assist in product market promotion in the future [1]

证券代码：600196 股票简称：复星医药 编号：临2025-192 上海复星医药（集团）股份有限公司 关于公司药品新纳入国家医保目录及商保创新药目录的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 根据2025年12月7日国家医疗保障局、人力资源社会保障部发布的《国家基本医疗保险、生育保险和工 伤保险药品目录（2025年）》（以下简称"2025年国家医保目录"）以及首次发布的《商业健康保险创新 药品目录（2025年）》（以下简称"商保创新药目录"），上海复星医药（集团）股份有限公司及控股子 公司/单位（以下简称"本集团"）多款已上市产品获首次纳入或涉及备注信息调整，现将有关情况公告 如下： 一、新获纳入或涉及备注信息调整的主要品种 ■ 2025年国家医保目录、商保创新药目录将于2026年1月1日起执行。其中，2025年国家医保目录的具体医 保支付标准、医保报销细则、谈判药品的协议有效期等信息，须以国家医疗保障局等相关政府部门公示 信息为准。 前述新获纳入或涉及备注信息调整的药品2024年度及2025年前三季度的销 ...

Core Points - The announcement details that certain products from East China Pharmaceutical Co., Ltd. and its wholly-owned subsidiary, Hangzhou Sino-American East China Pharmaceutical Co., Ltd., have been included in the new National Medical Insurance and Commercial Health Insurance Innovation Drug Catalogs [1][4] - The inclusion of the products is expected to aid in market promotion, although it will not have a significant impact on the company's recent performance [4] Group 1: New Inclusion in Drug Catalogs - The company's product, Ustinumab injection, has been adjusted to regular catalog management, with changes in payment scope compared to the previous version [1][2] - Collaborative products, Senapali capsules and Butanedioic acid linaclotide capsules, have been included in the negotiated drug section, while Zewokiorunsai injection is part of the commercial health insurance innovation drug catalog [1][3] Group 2: Impact on the Company - Other products already included in the National Medical Insurance catalog have not been removed in this update [4] - The new drug catalog will take effect from January 1, 2026, and the specific reimbursement standards and details will be based on announcements from relevant government departments [4]

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].

Group 1 - Heng Rui Pharmaceutical has 9 drugs included in the national medical insurance directory for the first time, with an estimated total sales of approximately 8.66 billion yuan for 2024 and 7.55 billion yuan for the first three quarters of 2025 [5] - Junshi Biosciences' products Tuoyi® and Junshida® have been added to the national medical insurance directory, enhancing patient affordability and market promotion [6] - Huadong Medicine's subsidiary has products included in the national medical insurance and commercial insurance innovative drug directories, expected to aid in market promotion [7] Group 2 - Aidi Pharmaceutical's two innovative HIV drugs have successfully renewed their inclusion in the national medical insurance directory, with specific reimbursement prices set [8] - Fuxing Pharmaceutical has multiple products newly included in the national medical insurance directory, which is anticipated to positively impact future performance [9] - Weichuang Biotechnology's product has been included in the national medical insurance directory, which is expected to enhance market promotion and sales [10] Group 3 - Muxi Co., Ltd. announced a final online issuance rate of 0.03348913% after the mechanism was activated, with a total of 22.83 million shares issued [2] - Doushan New Materials reached a consensus on production reduction in the BOPET industry, although the sustainability of long-term price increases remains uncertain [2] - Guanglian Aviation's controlling shareholder has had the detention lifted, allowing normal operations to resume [3] Group 4 - Jiangjian Co., Ltd. clarified that it bears no obligations for any overdue financial products related to its controlling shareholder, confirming normal operations [4] - Tian Ci Materials' controlling shareholder has committed not to reduce holdings, holding 34.35% of the shares [13] - Annie Co., Ltd. is planning a change in control, with stock resuming trading on December 8 [14]

Core Viewpoint - The announcement from Huadong Medicine indicates that several of its products have been included in the new drug catalog released by the National Healthcare Security Administration and the Ministry of Human Resources and Social Security, which is expected to aid future market promotion without significant immediate impact on recent performance [1] Group 1: Product Inclusion - Huadong Medicine's subsidiary, China-US Huadong, has its Ustinumab injection adjusted to routine catalog management, with changes in payment scope [1] - The cooperative products, Senaparib capsules and Vutrisiran capsules, have been included in the negotiated drug list during the agreement period [1] - The drug Zevulonase injection has been included in the commercial insurance innovative drug catalog [1] Group 2: Future Implications - The new drug catalog will be implemented starting in 2026, suggesting a longer-term benefit for the company's market positioning [1] - The inclusion of these products is expected to facilitate future market promotion efforts [1]

公司上述药品2024年度合计销售额约为86.60亿元，2025年1-3季度合计销售额约为75.54亿元。公司上述 药品纳入国家医保目录，将有利于药品的销售，对公司经营业绩的影响暂无法估计。国家医保目录 (2025年)将于2026年1月1日起正式实施，医保支付标准、医保报销细则等相关信息，需以国家医疗保障 局等相关政府部门公示信息为准。敬请广大投资者谨慎投资，注意防范投资风险。 格隆汇12月7日丨恒瑞医药(600276.SH)公告，根据国家医保局、人力资源社会保障部关于印发《国家基 本医疗保险、工伤保险和生育保险药品目录(2025年)》的通知("《国家基本医疗保险、工伤保险和生育 保险药品目录》"以下简称"国家医保目录")，江苏恒瑞医药股份有限公司(以下简称"恒瑞医药"或"公 司")部分产品纳入国家医保目录。 通过医保谈判，注射用瑞康曲妥珠单抗、苹果酸法米替尼胶囊、夫那奇珠单抗注射液、硫酸艾玛昔替尼 片、注射用磷罗拉匹坦帕洛诺司琼、注射用瑞卡西单抗、醋酸阿比特龙片(Ⅱ)、盐酸伊立替康脂质体注 射液(Ⅱ)、瑞格列汀二甲双胍片(Ⅰ)/(Ⅱ)、全氟己基辛烷滴眼液首次纳入国家医保目录；注射用卡瑞利 珠单抗、氟唑帕利胶囊 ...

中国基金报记者 王思文 【 导读 】 114种药品新增进入2025年国家医保药品目录，19种药品进入商保创新药目录 12月7日， 2025年药品目录谈判协商结果在广州发布，市场关注的新版基本医保药品目录和 首版《商业健康保险创新药品目录》正式公布。今年是国家医保药品目录连续第八年进行调 整。 新版药品目录自2026年1月1日起正式执行，《国家基本医疗保险、工伤保险和生育保险药品 目录（2024年）》（医保发〔2024〕33号）同时废止。 2025年版国家医保+商保药品目录正式发布 根据国家医保局对外发布的 2025年版国家基本医疗保险、生育保险和工伤保险药品目录和首 版商业健康保险创新药品目录 显示，2025年国家医保药品目录成功新增114种药品，19种药 品被纳入首版商保创新药目录。 在本次目录调整的新增药品中，有50种是一类创新药，总体成功率为88%，较2024年的 76%明显提高。 同时，一些弥补基本医保保障空白的药品被纳入2025年国家医保药品目录，如三阴性乳腺 癌、胰腺癌、肺癌等重大疾病用药；朗格汉斯细胞组织细胞增生症、螯合剂不耐受的地中海 贫血症等罕见病用药；糖尿病、高胆固醇血症、自身免疫性疾病等 ...

Core Insights - The 2025 National Medical Insurance Negotiation has commenced, expected to last 4-5 days, focusing on both basic medical insurance and commercial health insurance innovative drug pricing [1][2] - This year's negotiation marks the 8th adjustment since the establishment of the National Medical Insurance Bureau and introduces a new commercial health insurance innovative drug directory [2][3] Group 1: Negotiation Details - The negotiation will begin with drugs that have relatively transparent pricing, such as antiviral and chronic disease medications, while more challenging drugs like cancer treatments will be discussed later [3] - Key innovative drugs, including TROP2 ADC and several CAR-T products, are anticipated to participate in this year's negotiations [2][3] Group 2: Directory Adjustments - A total of 535 drug names have passed the formal review for the basic drug directory, with 311 being new entries and 224 existing ones [2] - For the commercial health insurance innovative drug directory, 121 drug names have passed the formal review, with 79 applying for both directories [2][3] Group 3: Policy Framework - The dynamic adjustment mechanism for the national medical insurance directory has evolved into a scientific and fair process over the years [3] - The commercial health insurance innovative drug directory focuses on high-innovation, clinically valuable drugs that cannot be included in the basic directory due to their cost [3]