2025年《国家基本医疗保险、生育保险和工伤保险药品目录》（以下简称"基本医保目录"）和首版《商 业健康保险创新药品目录》（以下简称"商保创新药目录"）于12月7日正式出炉。作为首版医保"双目 录"，此次基本医保目录及商保创新药目录均有不少亮点。其中，基本医保目录成功新增114种药品，有 50种是一类创新药，总体成功率88%，较2024年的76%明显提高。同时纳入了一些弥补基本医保保障空 白的药品。商保创新药目录方面，共有19种药品成功纳入，既有基本医保目录陪跑多年的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。此次"双目 录"的协同发布，更有助于满足人民群众多元化、多层次用药需求，破解高值创新药的可及性难题。 总体成功率88% 据了解，基本医保目录共计成功新增114种药品，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，本次调整后，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。此外，总体成功率 88%，较2024年的76%明显提高。 据 ...

Core Insights - The release of the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalogs marks a significant step in enhancing drug accessibility and innovation in China, with a total of 114 new drugs added to the basic insurance catalog, including 50 innovative drugs, achieving an overall success rate of 88%, up from 76% in 2024 [1][5][9]. Summary by Sections Basic Medical Insurance Drug Catalog - A total of 114 new drugs were successfully added, with 50 classified as innovative drugs, reflecting an overall success rate of 88% [5][9]. - The total number of drugs in the national insurance catalog now stands at 3,253, including 1,857 Western medicines and 1,396 traditional Chinese medicines, with significant improvements in coverage for critical areas such as cancer, chronic diseases, mental health, rare diseases, and pediatric medications [5][9]. - The catalog includes drugs that fill gaps in basic insurance coverage, such as treatments for triple-negative breast cancer, pancreatic cancer, and other major diseases [9]. Commercial Health Insurance Innovative Drug Catalog - The first edition of the Commercial Health Insurance Innovative Drug Catalog includes 19 drugs, with a focus on high clinical value and innovation, particularly in oncology, rare diseases, and chronic conditions [11][12]. - Notable inclusions are CAR-T therapies and treatments for rare diseases like neuroblastoma and Gaucher disease, as well as Alzheimer's disease medications [11][12]. - The catalog emphasizes the distinction between basic insurance, which focuses on essential and proven therapies, and commercial insurance, which supports cutting-edge innovations [11][12]. Future Implications - The introduction of these catalogs is expected to enhance clinical medication standards and boost confidence in pharmaceutical R&D, ensuring better healthcare and injury treatment for the public [8]. - The ongoing adjustments to the drug catalogs reflect a commitment to improving the accessibility of innovative drugs and encouraging pharmaceutical companies to invest in research and development [10][11].

Core Viewpoint - Kolon Pharmaceutical's subsidiary, Kolon Biotech, has received acceptance for the marketing application of the new drug, Furmasan Lunbotin Capsules, aimed at treating RET fusion-positive locally advanced or metastatic non-small cell lung cancer (NSCLC) in adults [1][4]. Group 1: Drug Development and Clinical Trials - Lunbotin (A400/EP0031) is a second-generation small molecule selective RET inhibitor developed by Kolon Biotech, showing broad activity against common RET gene fusions and mutations, which may help overcome resistance seen with first-generation inhibitors [4]. - Kolon Biotech has conducted several key clinical studies for Lunbotin, including pivotal trials for first-line and second-line treatment of advanced RET fusion-positive NSCLC, as well as studies for RET fusion-positive medullary thyroid carcinoma (RET + MTC) and solid tumors [4]. Group 2: Market Trends and Company Performance - The anti-tumor drug market is experiencing robust growth, with sales in hospitals projected to exceed 120 billion yuan in 2024, reflecting a year-on-year increase of 6.15% [7]. - Kolon Biotech has successfully developed and commercialized several anti-tumor and immune modulators, including the first-class new drug, Tagolizumab Injection (PD-L1), and the antibody-drug conjugate, Lukanosatuzumab Injection [9]. - In the first half of 2025, Kolon Biotech reported revenues of 950 million yuan, with self-commercial sales amounting to 310 million yuan, representing 32.6% of total revenue [12].