Group 1 - The core viewpoint of the news highlights the significant increase in the success rate of national medical insurance negotiations, reaching a historical high, which is expected to encourage the development of innovative drugs in China [2] - The 2025 National Medical Insurance Drug List will add 114 new drugs, including 50 first-class innovative drugs, with an overall success rate of 88%, marking a notable increase from 76% in 2024 [1] - The new drug list will officially implement on January 1, 2026, expanding the total number of drugs covered to 3,253, enhancing coverage in key areas such as oncology, chronic diseases, mental health, rare diseases, and pediatric medications [1] Group 2 - Citic Securities believes that the successful negotiation rate for national medical insurance has reached a historical high, and the commercial insurance directory is expected to become an important growth driver, promoting the development of innovative drugs [2] - Guotai Junan Securities indicates that the recent press conference and series of discussions by the medical insurance bureau clarify future policies that support companies in "anti-involution," international expansion, and differentiated innovation, which will benefit the high-quality development of the medical device industry [2] - The China Innovation Drug ETF closely tracks the China Innovation Drug Industry Index, which selects up to 50 representative listed companies involved in innovative drug research and development to reflect the overall performance of the innovative drug industry [2]

来源：险联社 "全国首版《商业健康保险创新药品目录》正式发布，共纳入19种药品，既有肿瘤、罕见病、慢性病治疗药品，也有广受关注的阿尔茨海默病 治疗药品等。" 12月7日，2025创新药高质量发展大会在广州召开，大会发布了全国首版《商业健康保险创新药品目录》。首版《目录》共纳入19种药品，既 有肿瘤、罕见病、慢性病治疗药品，也有广受关注的阿尔茨海默病治疗药品等。 2025年6月，国家医保局、国家卫生健康委联合印发了《支持创新药高质量发展的若干措施》，国家医保局牵头组织制定《商业健康保险创新 药品目录》，重点纳入临床价值大、创新程度高、患者受益明显但超出基本医保保障范围的药品。 近年来，医保目录持续扩容，但部分救急、救命的创新药在刚上市时价格高昂，基本医保目录难以覆盖，不少患者依然难以负担。 《商业健康保险创新药品目录》可以推动商业健康保险与基本医保的有效衔接，构建多层次医疗保障体系建设。 19种药品入围 涵盖多种罕见病 国家医保局在2025年8月发布的通告中曾披露，共收到商保创新药目录申报信息141份，涉及药品通用名141个，经初步审核，121个药品通用名 通过形式审查。 而最终这版名单中，经过自主申报、专家评 ...