转自：成都日报锦观 锚定"世界领先科技园区" 成都高新区跑出高质量发展加速度 当冬日的晨光洒向蓉城，成都高新区已是一片炽热的"创新场"。这里，涌动的不只是车流与人潮，更是人工智能算法无声的奔流、创新药分子 精密的碰撞以及未来技术概念破土的脉动。 市委明确支持成都高新区加快建设世界领先科技园区，并将其置于成都加快建设"五中心五地"的全局战略中予以重任。这一战略定位，既是对 成都高新区过往发展成果的肯定，更赋予了这片创新热土全新的使命担当。 视野决定格局，梦想引领未来。有了清晰的坐标方位，谋划工作便有了指针——站在"十五五"的全新起点，成都高新区以改革创新为驱动、以 开放合作为引领、以科技产业为支撑、以严实作风为保障，奋力向世界领先科技园区阔步迈进。 硬核成果+高效转化 加快发展新质生产力 世界领先科技园区是在国际视野和全球比较中处于第一梯队和领先位置的高科技园区，是创新资源高度集聚、资源配置能力全球领先、引领世 界科技创新和产业创新潮流的创新高地。 科技引领未来，创新决定发展。成都高新区系统构建"创新极核—转化节点—创新网络"产业科技创新体系，着力推进科技创新与产业创新深度 融合，加快发展新质生产力。 北京大学 ...

Core Insights - The National Healthcare Security Administration (NHSA) has released the 2025 National Medical Insurance Drug List, adding 114 new drugs, including 50 innovative drugs of Class A, and 19 drugs included in the first commercial insurance innovative drug list [1][4] Summary by Sections New Drug Additions - The 2025 National Medical Insurance Drug List primarily adds chemical drugs, with a rapid increase in biological products and some traditional Chinese medicine [1] - Out of the 114 new drugs, 112 were included through negotiation and bidding, while 2 were directly included from national procurement [1] - A total of 111 new drugs were approved in the last five years, with the number of Class A innovative drugs reaching a historical high of 50 [1] Financial Impact - As of October 2023, the NHSA has paid over 460 billion yuan for drugs under agreement, benefiting over 1 billion patients and driving related sales exceeding 670 billion yuan [2] - Basic medical insurance covers approximately 44% of the costs for innovative drugs, while commercial insurance covers about 7% [2] Evaluation and Selection Criteria - The selection process for new drugs has seen a low pass rate during expert reviews, with only 127 out of 311 drugs passing to the negotiation table this year [2] - Some drugs were not favored due to "involutionary innovation," where the clinical value does not significantly improve compared to existing drugs [3][4] - To be included in the list, drugs must meet at least one of three criteria: filling clinical gaps, superior efficacy, or better cost-effectiveness [4] Commercial Insurance Innovations - The newly introduced commercial health insurance innovative drug list emphasizes drug innovation and clinical value, with 19 out of 141 submitted drugs successfully negotiated for inclusion [5] - The drugs in the commercial insurance list include 9 Class A new drugs, addressing gaps in basic medical insurance coverage [5] Future Directions - The NHSA plans to continue annual adjustments to the drug list to meet evolving clinical needs and incorporate advancements in medical technology [6] - The focus will be on supporting domestic and innovative drugs, enhancing collaboration between commercial insurance and innovative pharmaceutical companies [6]

12月7日，医保、商保"双目录"发布。国家医保局、人力资源社会保障部印发《国家基本医疗保险、生育保险和工伤保险药品目录》以及《商业健康保险 创新药品目录》（2025年）。新版目录将于2026年1月1日在全国范围内正式实施。 2025年国家医保药品目录新增114种药品，其中，50种为1类创新药。同时，首版商保创新药目录共纳入19种药品，既有CAR-T等肿瘤治疗药品，也有神经 母细胞瘤、戈谢病等罕见病治疗药品，还有阿尔茨海默病治疗药品等，涉及北海康成、复星医药、药明巨诺、百济神州等国内多家上市药企。 图片来源：国家医保局网站 支持"真创新" 本次调整后，2025年国家医保药品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。 中国证券报记者梳理发现，恒瑞医药、信达生物、众生药业、智翔金泰、康诺亚等多家国内上市公司产品被纳入。 恒瑞医药共有11款抗肿瘤产品被纳入，包括5款首次纳入国家医保目录的创新产品，3款创新药的关键新适应症，以及3款重点产品的医保目录内续约。恒 瑞医药肿瘤领域共16款已上市创新药中，已有14款纳入国家医 ...

Core Insights - Chengdu is designated as a "national advanced manufacturing base" as part of its development goals, with a projected industrial output growth of 4.8% in 2024, an increase of 0.7 percentage points year-on-year [1] - The city has successfully cultivated multiple national-level industrial clusters, ranking seventh among cities nationwide for "specialized and innovative" small enterprises [1] Group 1: Advanced Manufacturing and Industrial Growth - In 2024, Chengdu's industrial investment is expected to grow by 48.7%, surpassing both national and provincial averages [1] - Chengdu has achieved significant milestones in advanced manufacturing, including the launch of China's first Micro-LED production line and the completion of the New Aviation Engine Industrial Park [2] - The city has established five national-level advanced manufacturing clusters and two strategic emerging industry clusters [1][2] Group 2: Emerging Industries and Technological Advancements - Chengdu is actively developing new industries, with a focus on artificial intelligence, having registered five AI industry models with national authorities [2][6] - The city has launched various innovative projects, including the world's first hydrogen-powered regional train and the establishment of a humanoid robot innovation center [2][3] - Chengdu's AI core industry is projected to exceed 70 billion yuan by mid-2025, with several local companies recognized among the top in the nation [6] Group 3: Infrastructure and Industrial Ecosystem - Chengdu has built a robust industrial ecosystem with four national-level public service platforms and 17 provincial-level platforms for industrial technology [3] - The city has developed nine large-scale computing power centers, enhancing its digital economy capabilities [3] - Chengdu's industrial parks are gaining recognition, with the Tianfu Traditional Chinese Medicine City being named one of the most vibrant in the country [4] Group 4: Strategic Initiatives and Government Support - The Sichuan provincial government is committed to supporting Chengdu's development in AI, low-altitude economy, and biomedicine, aligning with the city's strategic focus [5][6] - Chengdu is enhancing its participation in global industrial chains and fostering high-quality development through specialized industrial parks [5] - The city has been recognized as a pilot for several national-level initiatives, including smart manufacturing and 5G applications [4]

Group 1: Economic Growth and Industrial Development - Chengdu aims to become a national advanced manufacturing base, with a projected industrial output growth of 4.8% in 2024, an increase of 0.7 percentage points year-on-year [1] - The city has achieved a remarkable 48.7% growth in industrial investment in 2024, surpassing both national and provincial averages [1] - By May 2025, the industrial output value of Chengdu increased by 8.0% year-on-year [1] Group 2: Advanced Manufacturing and Innovation - Chengdu has successfully established five national-level advanced manufacturing clusters and two strategic emerging industry clusters by 2024 [1] - The city has seen significant breakthroughs in advanced manufacturing projects, including the first Micro-LED production line in mainland China and the completion of the New District Aviation Engine Industrial Park [2] - Chengdu is home to eight companies listed among China's top 500 manufacturing enterprises, ranking seventh among cities nationwide [1] Group 3: Emerging Industries and Technological Advancements - The artificial intelligence industry in Chengdu is projected to exceed 100 billion yuan, with five AI models approved by national authorities in 2024 [4] - Chengdu has established the first humanoid robot innovation center in Central and Western China, with seven types of locally produced humanoid robots released [4] - The city has been approved as a pilot for electric vertical takeoff and landing (eVTOL) aircraft, with the AE200 becoming the first manned eVTOL design guarantee system in China [4][6] Group 4: Industrial Collaboration and Market Expansion - Chengdu has been actively expanding its domestic and international markets, signing procurement contracts worth approximately 12 billion yuan in 2024 [7] - The city has been recognized for its collaborative efforts in the Chengdu-Chongqing economic circle, enhancing the supply chain integration of automotive parts to 80% [7] - Chengdu has been selected for five national-level major pilot projects, including smart manufacturing and 5G applications [7] Group 5: Policy Support and Future Planning - The Sichuan provincial government has issued policies to support Chengdu in becoming a national advanced manufacturing base, focusing on high-quality development in emerging industries [10][12] - Chengdu is prioritizing the development of artificial intelligence, low-altitude economy, and biomedicine as key industry directions [12] - The city is implementing a comprehensive industrial system that integrates AI chips, computing power, algorithms, data, and real-world applications [12]

Core Insights - The adjustment of the medical insurance drug catalog for 2025 has seen a significant increase in the number of drugs passing the formal review, with a new commercial insurance innovative drug catalog introduced, attracting high industry attention [1][3][5] Summary by Sections Medical Insurance Drug Catalog - The National Healthcare Security Administration (NHSA) received 718 applications for the basic medical insurance catalog, with 534 passing the initial review, including 472 applications from outside the catalog, marking a notable increase from 249 in 2024 [3] - The approved drugs cover various fields such as oncology, chronic diseases, and rare diseases, with a significant number of monoclonal antibody injections passing the review [3][4] Commercial Insurance Innovative Drug Catalog - The newly established commercial insurance innovative drug catalog received 141 applications, with 121 passing the initial review, resulting in a pass rate of approximately 85.82% [5] - This catalog also includes drugs for oncology, chronic diseases, and rare diseases, primarily focusing on Western medicine, with some traditional Chinese medicine included [5][6] Dual Track Submission - Several drugs have simultaneously passed the reviews for both the basic medical insurance catalog and the commercial insurance innovative drug catalog, indicating a strategy to cater to different patient payment capabilities [7][8] - The dual submission approach allows for broader market coverage and addresses the needs of high-value innovative drugs that may not be included in the basic insurance catalog [8] Industry Implications - The increase in the number of drugs passing the reviews reflects the growing investment in innovative drug research and development in China, with a focus on enhancing patient access to essential medications [4][6] - The establishment of the commercial insurance innovative drug catalog signifies the government's commitment to building a multi-tiered medical security system, providing supplementary coverage for high-value drugs not included in the basic insurance [6][8]

Core Viewpoint - 康诺亚's revenue growth is driven by external licensing, despite significant losses and high R&D expenditures [1][2][5] Group 1: Financial Performance - 康诺亚 reported a revenue of 4.28 billion yuan in 2024, a year-on-year increase of 21% [1] - The company experienced a net loss attributable to shareholders of 5.15 billion yuan, an increase of 43.4% year-on-year [1] - R&D expenses reached 7.35 billion yuan, reflecting a 23% increase year-on-year, surpassing the company's revenue [1][5] Group 2: Product Development and Market Position - 康诺亚's first product,司普奇拜单抗, was approved in September 2024 for treating moderate to severe atopic dermatitis, marking it as the first domestically developed IL-4Rα antibody drug [3] - The company has multiple ongoing clinical trials, with several products nearing commercialization, including indications for chronic rhinosinusitis with nasal polyps and seasonal allergic rhinitis [3][6] - 康诺亚's licensing strategy has generated significant revenue, with 3.92 billion yuan from external licensing in 2024 [3][4] Group 3: Strategic Initiatives - 康诺亚 employs a NewCo model, collaborating with overseas capital to establish new companies for licensing specific product pipelines, which allows for risk diversification and accelerated internationalization [4] - The company plans to expand its production capacity to meet the increasing demand for its candidate drugs, aiming to maximize their commercial value [6] - 康诺亚's cash and cash equivalents totaled approximately 21.56 billion yuan as of December 31, 2024, with a debt-to-asset ratio of 34%, indicating a stable financial position despite ongoing losses [6]