Core Insights - The 2025 National Medical Insurance Directory and the first Commercial Health Insurance Innovative Drug Directory were announced, marking a significant development in the pharmaceutical industry [1][3][10] - A total of 114 new drugs were added to the National Medical Insurance Directory, including 50 innovative drugs, which is expected to enhance patient access and support sustainable investment in drug development [1][2][3] National Medical Insurance Directory - The 2025 National Medical Insurance Directory includes 114 new drugs, with 50 classified as innovative drugs, such as Tislelizumab and domestic ADC drugs [1][3] - Companies like Kelun-Biotech and Kangnuo have successfully included their innovative drugs in the directory, reflecting strong government support for domestic innovation [3][4] - The total number of drugs in the National Medical Insurance Directory has increased to 3,253, with significant improvements in coverage for critical areas like oncology and chronic diseases [5][6] Commercial Health Insurance Innovative Drug Directory - The newly introduced Commercial Health Insurance Innovative Drug Directory includes five CAR-T cell therapies and several high-cost drugs for rare diseases, enhancing accessibility for patients [1][6][8] - The directory allows innovative drug companies to explore new payment channels outside of traditional medical insurance, potentially increasing patient access to high-value therapies [11][12] - The pricing for drugs in the Commercial Health Insurance Directory is expected to be more flexible, allowing for negotiations between companies and insurers, which could lead to better affordability for patients [8][12] Industry Impact - The introduction of the Commercial Health Insurance Innovative Drug Directory is seen as a milestone for improving drug accessibility and affordability, particularly for high-cost therapies [7][9][12] - The past decade has witnessed significant growth in China's innovative drug sector, with the new directory marking a pivotal moment in the industry's evolution [10][11] - The dual-track payment framework established by the National Medical Insurance and Commercial Health Insurance is expected to foster a more robust ecosystem for drug research and application in China [12]