新华社北京11月27日电 题：简便验廉，小小中药制剂助力大健康 新华社记者田晓航 已是小雪时节，北方冬季的燥气令人皮肤干痒。在中国中医科学院广安门医院皮肤科门诊，"止痒润肤霜"的需求渐渐多了起来。 这款医院自主研发的中药制剂，经多年临床验证，且价格低廉，因而受到患者青睐。 "让老一辈中医专家的临床经验得到传承和发扬，满足患者多元化的用药需求。"广安门医院药学部主任金敏说，医院如今已能生产拥有自主 知识产权的19种剂型、103种制剂产品，其中，中药制剂产品多达96种。 源于名医验方，基于临床需求，填补市场空白，简便验廉的医疗机构中药制剂一直广受欢迎。 2025年11月12日，广安门医院制剂中心生产人员进行中药提取操作。（广安门医院供图） "十四五"以来，国家不断出台政策，鼓励医疗机构中药制剂发展。《关于提升中药质量促进中医药产业高质量发展的意见》明确，支持特色 优势医疗机构中药制剂依法调剂使用，加强对医疗机构中药制剂、名医验方等的挖掘和转化。 乘着政策的东风，"十四五"时期，由广安门医院投建，一座建筑面积7.1万平方米的中药产业园区在北京大兴拔地而起。 "除了制剂中心现代化的生产线，园区还搭建了中药制剂研发、中 ...

Core Viewpoint - Tianmu Pharmaceutical has experienced a significant turnaround in its financial performance in 2024, primarily due to increased revenue from health products and medical training services, largely supported by local enterprises in Qingdao [2][3][4]. Financial Performance - Tianmu Pharmaceutical's revenue for the first half of 2024 was 0.6 billion, with a net profit of -0.19 billion [3]. - In the second half of 2024, the company's revenue surged to 1.58 billion, accounting for 72.59% of the total annual revenue, with a net profit of 0.34 billion [4]. - The fourth quarter alone contributed 0.93 billion in revenue, representing 42.62% of the annual total [4]. Business Segments - Health products became the largest business segment for Tianmu Pharmaceutical in 2024, generating 0.68 billion in revenue, a 322% increase year-on-year [5]. - Medical training services followed, with revenue of 0.43 billion, marking a 286% increase [5]. Customer Base and Relationships - Eight out of the top ten customers for Tianmu Pharmaceutical's health products in 2024 were Qingdao-based companies, with six being construction-related firms [5]. - The company has been questioned regarding the sustainability of its new customer relationships, particularly with local construction firms linked to its controlling shareholder [5][6]. Acquisitions and Projects - In 2024, Tianmu Pharmaceutical acquired a 51% stake in Qingdao Simulation Medicine, which significantly contributed to its revenue growth [6]. - Qingdao Simulation Medicine won a project from the Qingdao Health Commission worth 39.55 million, enhancing Tianmu's financial performance [6][9]. Future Outlook - The sustainability of the revenue growth from Qingdao Simulation Medicine is under scrutiny, with the company planning to enhance its capabilities and pursue additional contracts for 2025 [10].

Core Insights - The article emphasizes the improvement of factors affecting the payment for innovative drugs, highlighting the government's commitment to supporting the development of innovative drugs through the establishment of a catalog for innovative drugs in the 2025 government work report [2][8][25]. Industry Overview - The innovative drug payment structure in China is primarily reliant on basic medical insurance and out-of-pocket payments from patients, with the market size expected to reach 162 billion yuan in 2024 [8][10]. - The government has introduced a "Class C catalog" for innovative drugs, which aims to include high-value drugs that cannot be covered by basic medical insurance, thereby promoting commercial health insurance's contribution to innovative drug payments [9][25]. Investment Dynamics - In Q1 2025, the biopharmaceutical sector in China saw 57 financing cases totaling 5.772 billion yuan, indicating a slight decrease in activity compared to previous quarters [22][24]. - Chemical pharmaceuticals attracted the most investment, with 25 cases amounting to 3.143 billion yuan, while the focus areas included small molecule drugs, antibody drugs, and cell therapies [22][23]. - Early-stage financing cases decreased from 59.38% in Q4 2024 to 54.39% in Q1 2025, while mid-to-late stage financing cases increased, reflecting a shift in investor sentiment towards more mature projects [23][32]. Key Financing Events - Notable financing events in Q1 2025 included: - Yingxi Intelligent's completion of a $110 million E-round financing [13]. - Li Bang Pharmaceutical's successful C-round financing of 550 million yuan [15]. - A strategic investment of 600 million yuan in the Huizhou Traditional Chinese Medicine Group [14] [38]. Policy Environment - The government has reiterated its support for innovative drugs in the 2025 work report, signaling a stable policy environment for biopharmaceutical companies [24][32]. - Various policies have been introduced to enhance the quality and development of traditional Chinese medicine, including streamlined approval processes and increased market accessibility for innovative traditional Chinese medicines [40][46]. Trends in Traditional Chinese Medicine - The development of new traditional Chinese medicines is gaining momentum, with a significant increase in clinical trial applications, reflecting a growing interest in integrating traditional practices with modern scientific methods [40][42]. - The approval process for traditional Chinese medicines has been expedited, with 11 new traditional Chinese medicines added to the insurance catalog in 2024, enhancing their market reach [40][46].