医保准入已成为创新药市场放量的关键节点。数据显示，进入医保目录的创新药，通常能在一年内实现 销售额的快速增长。这种"以价换量"的模式，正在重塑中国创新药企业的商业模式。 2026年1月1日起，中国医保目录将迎来历史上规模最大的一次创新药扩容。 12月7日，国家医保局披露，经相应程序，本次目录调整新增114种药品，其中50种1类创新药，同时调 出了29种临床没有供应或可被其他药物更好替代的药品（其中9种尚有相同治疗主成分的其他剂型在目 录内，不减少目录编号）。本次调整后，目录内药品总数增至3253种，其中西药1857种、中成药1396 种，肿瘤、慢性病、精神疾病、罕见病、儿童用药等重点领域的保障水平得到明显提升。新版医保目录 将于2026年1月1日起正式实施。 21世纪经济报道记者梳理发现，此次创新药入医保成为趋势。例如，恒瑞医药共有11款抗肿瘤产品成功 纳入，包括5款首次纳入国家医保目录的创新产品，即注射用瑞康曲妥珠单抗（艾维达®）、注射用磷 罗拉匹坦帕洛诺司琼（瑞坦宁®）、苹果酸法米替尼胶囊（艾比特®）、醋酸阿比特龙片（Ⅱ）（艾瑞 吉®）和盐酸伊立替康脂质体注射液（Ⅱ）（越优力®）。除新增纳入的创新药外，恒 ...

Core Viewpoint - The upcoming adjustment to China's medical insurance catalog, effective January 1, 2026, will be the largest expansion of innovative drugs in history, adding 114 new drugs, including 50 class 1 innovative drugs, reflecting a significant commitment to support innovation in the pharmaceutical sector [2][11]. Summary by Sections Medical Insurance Directory Adjustment - The total number of drugs in the medical insurance directory will increase to 3,253, with a notable enhancement in coverage for key areas such as oncology, chronic diseases, mental health, rare diseases, and pediatric medications [2]. - The proportion of innovative drugs in the directory is rising, with 50 out of 114 new additions being class 1 innovative drugs, accounting for nearly 44% [2][11]. Innovative Drug Market Dynamics - The inclusion of innovative drugs in the medical insurance directory is a critical factor for market expansion, as these drugs typically experience rapid sales growth within a year of being added [5]. - Companies like Heng Rui Medicine and Innovent Biologics have successfully included multiple innovative products in the new directory, indicating a trend towards greater access to innovative treatments [6][7]. Clinical Demand and Treatment Options - The new directory focuses on drugs with significant clinical value and urgent patient needs, particularly in oncology, where new treatments for blood cancers and breast cancer have been added [12][14]. - The inclusion of targeted therapies for severe asthma and diabetes reflects a commitment to addressing pressing health issues in the population [10][8]. Pricing and Insurance Collaboration - A new commercial insurance directory for innovative drugs has been established, which includes 19 innovative drugs from 18 companies, aiming to create a balanced payment mechanism between basic medical insurance and commercial insurance [19][23]. - The commercial insurance directory is expected to alleviate the financial burden on patients, particularly for high-cost treatments like CAR-T therapy [21][22]. Policy Coordination and Future Outlook - The development of innovative drugs requires coordinated policies across drug approval, medical insurance, and clinical application, which have seen significant reforms in recent years [25][26]. - The future of innovative drug development in China hinges on the collaboration between industry policies and capital markets, with expectations for more original innovations and a focus on global competitiveness [27][28]. Conclusion - The adjustment of the medical insurance directory marks a transformative step for innovative drugs in China, shifting from being luxury items to accessible treatment options for a broader population, ultimately enhancing patient outcomes and supporting the goal of universal health coverage [29].