Core Insights - The new National Medical Insurance Directory has added 114 new drugs, surpassing last year's addition of 91, with 50 being first-class innovative drugs, achieving an overall success rate of 88%, an improvement from 76% in 2024 [1][2] Group 1: New Drug Additions - The total number of drugs in the directory has increased to 3,253, significantly enhancing coverage for key areas such as oncology and chronic diseases [2] - The directory includes 38 global innovative drugs and 50 first-class innovative drugs, marking a historical high for new additions [2] - Notable inclusions are the first globally approved red blood cell maturation agent, Rotecip, for treating lower-risk myelodysplastic syndromes, and the first domestically developed IL-4Rα antibody drug, Kangyueda, for multiple indications [3][4] Group 2: Oncology Innovations - Several innovative oncology drugs have been added, including Tagolizumab, the first PD-L1 monoclonal antibody approved for nasopharyngeal carcinoma, and non-covalent BTK inhibitor, Jebatib, for relapsed mantle cell lymphoma [4][5][6] - ADCs (antibody-drug conjugates) have gained attention, with new entries like Lukanasatuzumab and Ruikangquzuzumab, targeting advanced breast cancer and non-small cell lung cancer [7][8] Group 3: Chronic Disease Treatments - The directory has included innovative drugs for chronic diseases, such as Novartis' PCSK9 mRNA interference drug for cholesterol management, addressing patients who cannot reach LDL-C targets [14] - AstraZeneca's biologic drug Benralizumab for severe eosinophilic asthma has also been added, providing targeted treatment options for patients [15][16] Group 4: Influenza Treatments - The new directory has incorporated two domestic antiviral drugs for influenza, Masurashave and Angladiv, which have shown promising clinical results in reducing symptoms and viral load [17]

Core Insights - The Chinese medical insurance directory will undergo its largest expansion of innovative drugs in history starting January 1, 2026, adding 114 new drugs, including 50 class 1 innovative drugs, while removing 29 drugs that are either unavailable or can be replaced by better alternatives [1][2] - The total number of drugs in the directory will increase to 3,253, significantly enhancing coverage for key areas such as oncology, chronic diseases, mental health, rare diseases, and pediatric medications [1][2] - The inclusion of innovative drugs in the medical insurance directory reflects a strong commitment to support genuine innovation and differentiated innovation in the healthcare sector [1][2] Medical Insurance Directory Expansion - The new directory will include 114 drugs, with nearly 44% being class 1 innovative drugs, indicating a growing emphasis on innovative treatments [1][2] - The directory will enhance the insurance coverage for critical areas, improving access to necessary medications for patients [1][2] Innovative Drug Market Dynamics - The entry of innovative drugs into the medical insurance directory is a key driver for market growth, with those included typically experiencing rapid sales growth within a year [4] - Companies like Heng Rui Medicine and Innovent Biologics have successfully included multiple innovative products in the new directory, indicating a trend towards increased market access for innovative therapies [4][5] Clinical Needs and Treatment Options - The new directory addresses significant clinical needs, particularly in oncology, with new drugs targeting various types of cancers, thereby expanding treatment options for patients [9][10] - The inclusion of targeted therapies for conditions like severe asthma and breast cancer provides patients with more accessible and effective treatment options [6][10] Commercial Insurance Directory - The introduction of a commercial insurance directory for innovative drugs aims to balance clinical value, corporate profits, and the sustainability of insurance funds [2][12] - The commercial insurance directory includes 19 innovative drugs, highlighting a focus on high-value treatments that exceed basic insurance coverage [12][15] Policy and Regulatory Environment - Recent reforms in drug approval and medical insurance payment systems have created a conducive environment for the development of innovative drugs in China [17][18] - The acceleration of drug approvals and the establishment of a more rigorous evaluation system for innovative drugs are reshaping the landscape for pharmaceutical companies [17][18] Future Outlook - The ongoing expansion of the medical insurance directory signifies a shift towards making innovative drugs more accessible and affordable for the general population, enhancing overall healthcare outcomes [20][21] - The collaboration between policy, industry, and capital markets is essential for fostering high-quality development in the innovative drug sector [19][20]