报告导读： 药品流通行业是国家医疗卫生事业和健康产业的重要组成部分，是关系人民健康和生命安全的重要行业。批发商在药品流通渠道中作为产品销售承上启下的 环节，是降低药品流通成本和降低药价的关键所在。随着"两票制"改革落实和国民医疗卫生意识地不断增强，我国医药流通市场规模保持增长趋势。2024年 我国药品流通行业销售额29470亿元，其中，药品批发销售额22970亿元，占77.94%；药品零售额6500亿元，占22.06%。从区域分布来看，华东36.3%，中南 27.0%，华北15.2%，西南13.4%，东北4.3%，西北3.8%。其中，华东、中南、华北三大区域销售额占全国销售总额的78.5%。从销售品类来看，西药类销售 额占据主要份额，占比高达70.8%，其次是中成药类，销售额占14.6%，医疗器材类销售额占7.7%，中药材类销售额占2.4%，化学试剂类销售额占0.6%，玻 璃仪器类销售额占比不到0.1%，其他类销售额占3.9%。 为探究药品流通行业变化趋势（怎么变）、用户需求（要什么）、投放选择（投向哪）、运营方法（如何投）及实践案例（看一看），智研咨询发布了 《2026-2032年中国药品流通行业市场竞争策 ...

2026年，国家医保局将继续完善医保基金结算管理机制，在全面推进医保基金即时结算的基础上推进清 算提速，缩短清算周期，进一步减轻医疗机构的垫资压力。 通知还特别提出，要严格履行定点服务协议，及时足额向定点医药机构拨付协议约定的医保资金，不得 拖欠医药费用。 及时足额向定点医药机构拨付协议约定的医保资金，不得拖欠医药费用。 12月15日，国家医保局发布《国家医疗保障局办公室关于印发医保基金清算提质增效三年行动计划的通 知》（下称"通知"）。 通知要求，自2028年起，实现每年3月底前完成上年度清算，清算资金占年度医保基金拨付的3%左右， 推进"季度清算"等创新模式。鼓励有条件的地方，探索将大病保险资金和医疗救助基金等纳入清算提速 范围，逐步缩短异地就医费用清算周期。 通知提出，按病种付费清算是清算的重点和难点。省级医保部门要指导统筹地区，将按病种付费相关工 作分解到平时，注重日常的沟通协商和争议处理，及时解决问题，减少矛盾积压。用好特例单议、意见 收集反馈、谈判协商、数据工作组等工作机制，不断完善审核反馈渠道，重视和提升医疗机构、医务人 员在清算中的参与度，促进医保和医疗数据共享共通，提高医药机构对清算工作认可 ...

Group 1 - Guangzhou Pharmaceutical Co., Ltd. announced a 500 million yuan acquisition of Zhejiang Pharmaceutical, which ranks 32nd in the national pharmaceutical industry with a revenue of 4.777 billion yuan [3] - The acquisition of Zhejiang Pharmaceutical is part of a broader trend of cross-provincial mergers in the pharmaceutical distribution sector, aimed at expanding market presence beyond local regions [3][4] - The pharmaceutical distribution industry is facing significant competition from larger players, with the top five companies generating over 100 billion yuan in annual revenue, prompting smaller firms to pursue mergers for scale and market reach [4][6] Group 2 - Guangzhou Pharmaceutical has previously invested 749 million yuan to acquire an 11.04% stake in Nanjing Pharmaceutical, becoming its second-largest shareholder [5] - The company is actively pursuing a strategy to transform and expand its operations, focusing on innovative drugs and high-end medical devices, while also enhancing digital transformation efforts [5] - The 2024 Pharmaceutical Distribution Industry Report indicates a trend towards increased market concentration, with a forecast for higher chain rates in the future [6]

Core Insights - The pharmaceutical distribution industry is a crucial component of the national healthcare system and health industry, significantly impacting public health and safety [1][7] - The industry is experiencing growth due to the implementation of the "two-invoice system" reform and increasing public awareness of healthcare [1][7] Industry Overview - The pharmaceutical distribution market in China is projected to reach a sales volume of 29,470 billion yuan in 2024, with wholesale sales accounting for 22,970 billion yuan (77.94%) and retail sales for 6,500 billion yuan (22.06%) [1][7] - The regional distribution of sales shows that East China accounts for 36.3%, Central South 27.0%, North China 15.2%, Southwest 13.4%, Northeast 4.3%, and Northwest 3.8%, with the top three regions contributing to 78.5% of total sales [9][10] Sales Structure - The sales composition indicates that Western medicine accounts for 70.8% of total sales, followed by traditional Chinese medicine at 14.6%, medical devices at 7.7%, and other categories [9][10] Current State of the Industry - As of the end of 2024, there are 705,400 licensed pharmaceutical businesses in China, including 15,100 wholesale companies and 66,070 retail chain enterprises [3][5] - The total number of retail pharmacies has increased to 683,700, with a notable rise in single retail pharmacies [3][5] Financial Performance - In 2024, the main business income of reported pharmaceutical distribution enterprises reached 22,431 billion yuan, reflecting a 0.8% increase from 2023, while the profit totaled 468 billion yuan with an average gross margin of 7.2% [5][6] Industry Chain - The pharmaceutical distribution industry serves as a critical link in the pharmaceutical supply chain, connecting manufacturers with end-users, including hospitals and pharmacies [11][12] Competitive Landscape - Major players in the pharmaceutical distribution sector include East China Pharmaceutical, Shanghai Pharmaceutical, China National Pharmaceutical Group, and others, with significant revenue contributions from these companies [14][15] Future Development Directions - The industry aims to enhance operational efficiency and inventory management to ensure a stable supply of pharmaceuticals while minimizing financial risks [18][19]

每经头条（nbdtoutiao）——秒光、售罄！银行大额存单成稀缺资源，2%以上产品很难抢，有的门槛高 达1000万元！专家：存款利率或长期下行 （记者 张明双） 截至发稿，天目药业市值为21亿元。 每经AI快讯，天目药业（SH 600671，收盘价：17.23元）12月5日晚间发布公告称，公司第十二届第十 七次董事会会议于2025年12月5日以现场结合通讯表决方式召开。会议审议了《关于续聘会计师事务所 的议案》等文件。 2024年1至12月份，天目药业的营业收入构成为：保健品业占比31.37%，药品-流通商品占比21.97%，服 务类占比19.74%，原料药占比12.64%，中成药占比11.84%。 ...

Group 1 - The National Health Commission has launched the "Silver Hair Medical Care Action" to integrate medical services with the needs of retired medical personnel and the elderly [1] - Companies are leveraging new technologies to empower retired medical personnel, developing new products and services in collaboration with them [1][2] - Zhuzhou Qianjin Pharmaceutical Co., Ltd. employs retired medical personnel for community consultations and provides technical support through a big data system [1][2] Group 2 - Other companies, such as Jizhitang Co., Ltd. and Yifeng Pharmacy Chain Co., Ltd., are also adopting new technologies to support retired medical personnel [2] - Hunan Hansen Pharmaceutical Co., Ltd. is exploring the development of traditional remedies with retired medical personnel, aiming to preserve valuable medical knowledge [3] - Companies in property management, like Country Garden Services Holdings Company, are training their staff with the help of retired medical personnel to enhance service quality for elderly and vulnerable groups [4] Group 3 - The training provided by retired medical personnel includes practical skills for property management staff, improving their ability to assist residents [4] - Other real estate companies, such as Vanke Enterprise Co., Ltd., are also engaging in similar initiatives to provide diverse rehabilitation services and create new business models [4]

Core Viewpoint - The article emphasizes the importance of combating the illegal trade of "recycled drugs" to ensure public health and safety, highlighting the government's commitment to innovative regulatory measures to trace drug origins and prevent fraud [1][2]. Group 1: Regulatory Measures - The National Medical Insurance Administration has launched a special action to combat the illegal sale of recycled drugs, showcasing the effectiveness of "code-based supervision" [1]. - Starting from July 1, all medical insurance designated institutions are required to scan the unique "electronic ID" traceability code of each drug box, allowing for traceable drug origins and destinations [1]. Group 2: Risks of Recycled Drugs - Recycled drugs are often sourced through illegal channels, repackaged, or have their information altered, posing significant health risks to patients and disrupting market order [1]. - The methods used by drug traffickers include enticing insured individuals to sell insurance-covered drugs for profit, falsifying documents to disguise the origins of drugs, and neglecting proper storage conditions during the repackaging process [1]. Group 3: Collaborative Efforts - It is essential for pharmaceutical companies, medical institutions, and retail pharmacies to strictly manage drug sales and prevent drugs from entering informal channels [2]. - Public awareness and responsibility are crucial in preventing participation in the illegal trade of insurance-covered drugs, emphasizing that drug safety is a collective responsibility [2].

Group 1 - The Ministry of Commerce has announced the establishment of several standardization technical committees for various industries [1] - The newly formed committees include those for the automotive circulation industry, resource recovery industry, service outsourcing industry, pharmaceutical circulation industry, and petroleum circulation industry [1]

Core Viewpoint - The article discusses the recent guidelines issued by the National Medical Products Administration (NMPA) to regulate online sales of prescription drugs, aiming to establish a comprehensive risk prevention mechanism for the entire chain from drug promotion to distribution and traceability [4][5]. Summary by Sections Regulatory Framework - The new guidelines provide detailed operational guidance for compliant business practices in the online prescription drug market, addressing existing regulatory gaps due to the rapid development of e-commerce platforms [4][5]. - The guidelines emphasize the need for real and reliable prescription sources, requiring real-name registration and ensuring that prescription reviews are conducted by qualified professionals rather than automated systems [5][6]. Compliance and Enforcement - The guidelines mandate that every prescription must undergo professional review to ensure the prescribing physician has the necessary qualifications and that the prescribed medications are safe and appropriate [6]. - The document also prohibits misleading marketing practices, such as "buy one get one free" promotions, and restricts the use of various online marketing methods for prescription drugs [6]. Implementation and Future Outlook - Although the guidelines are not formal regulations, they are seen as a concrete elaboration of existing laws, providing a strong basis for implementation and operational guidance for companies [6]. - The effective parts of these guidelines may eventually be incorporated into formal legislation, reflecting regulatory responsiveness to new internet business models [6].

Group 1 - Tianmu Pharmaceutical announced the resignation of Wang Yihui from the positions of director, member of the strategic committee, and financial director due to work relocation [1] - The company appointed Han Tongmin as the new deputy general manager and Dang Guojun as the new financial director, effective from the date of board approval until the end of the current board term [1] - Huang Junde was elected as a member of the compensation and assessment committee, also until the end of the current board term [1] Group 2 - For the fiscal year 2024, Tianmu Pharmaceutical's revenue composition is as follows: health products 31.37%, pharmaceutical circulation products 21.97%, service category 19.74%, raw materials 12.64%, and traditional Chinese medicine 11.84% [1] - As of the report date, Tianmu Pharmaceutical has a market capitalization of 2.3 billion yuan [1]