Core Viewpoint - Recordati's subsidiary in China, Ruikangdi, has officially filed for deregistration and will completely exit the Chinese market, ceasing all business activities and supply of rare disease medications, including the only oral drug for Cushing's syndrome, Osilodrostat [1][2] Group 1: Company Actions - Ruikangdi announced the completion of its liquidation process on December 11, 2025, and will terminate all operations shortly [1] - The exit will result in the discontinuation of several rare disease drugs, including Osilodrostat, which was only recently commercialized in China [1][2] - Recordati had high expectations for Osilodrostat's sales in China, where it was priced at approximately 8,000 yuan per box, with an average annual treatment cost of around 200,000 yuan [1] Group 2: Market Challenges - The failure to include Osilodrostat in the national medical insurance directory has been cited as a significant factor in Ruikangdi's decision to exit [3][4] - The market for rare disease drugs in China faces challenges such as high development costs, limited patient populations, and reliance on multi-tiered payment systems, which complicate access to these medications [2][3] - The number of patients purchasing Osilodrostat in domestic pharmacies is estimated to be around 50, highlighting the limited market penetration [2] Group 3: Industry Trends - Ruikangdi's exit reflects a broader trend of multinational pharmaceutical companies reassessing their strategies in the Chinese market, with several companies restructuring or divesting their operations [4][6] - The exit of Ruikangdi and other companies may lead to increased opportunities for domestic pharmaceutical firms and could drive innovation and upgrades within the local industry [6]

Core Viewpoint - Recordati's subsidiary, Recondi, unexpectedly announced its exit from the Chinese market, citing recent market and regulatory dynamics, including the rejection of its drug Ozagrel for inclusion in the national medical insurance drug list [1][2]. Company Overview - Recondi, established in 2021, focused on rare diseases and had three approved drugs in China, with two commercialized. The company experienced rapid expansion but faced challenges in achieving profitability [3][16]. - The company had been actively hiring and promoting its products for inclusion in medical insurance while conducting education for doctors and patients [2][3]. Market Dynamics - The National Healthcare Security Administration has been increasing support for rare diseases, with approximately 100 rare disease drugs included in the national medical insurance drug list since 2018 [3]. - Despite the growing support for rare diseases, Recondi's products, including Ozagrel, did not make it into the insurance list, leading to their withdrawal from the market [3][7]. Product Details - Ozagrel, a key product for treating Cushing's syndrome, was priced at 8,008 yuan per box, significantly lower than global prices but still high for patients [6][7]. - The other product, Karglutan, had limited sales due to the availability of generic alternatives and high costs, making it unaffordable for many patients [6][10]. Patient Impact - The exit of Recondi has left many patients without access to critical medications, with some patients expressing regret and concern over the lack of alternatives [2][11]. - The high cost of Ozagrel and the absence of insurance coverage have made it difficult for patients to afford the treatment, with many waiting for it to be included in the insurance list [10][11]. Industry Challenges - The rare disease sector faces significant challenges, including high research and development costs, limited patient populations, and the need for extensive education and market cultivation [16][18]. - Recondi's experience reflects broader industry difficulties, as companies specializing in rare diseases often struggle to achieve sustainable business models without the support of insurance coverage [17][18].

经济观察报 记者 张铃 "我非常遗憾，我的很多病人没药可用了。"2026年1月13日，看到意大利制药集团Recordati旗下锐康迪（北京）医药有限公司（下称"锐康迪"）宣布退出中 国市场的消息后，中山大学附属第一医院内分泌科主任医师廖志红对经济观察报说。 锐康迪在2026年1月9日宣布，其已于2025年12月11日完成清算组备案，并进入清算程序，全部业务活动将于近期全面终止，未来将无法继续提供任何形式的 产品、服务或业务支持。 这是一家成立五年、专注罕见病的跨国药企中国商业子公司，旗下有三款罕见病药物在中国获批，其中两款实现商业化。近两年，锐康迪招兵买马，推动产 品进医保，同时开展医生和患者教育。 接受经济观察报采访的患者、医生、锐康迪前员工和罕见病企业人士，都对锐康迪的离开感到意外和遗憾。 关于退出中国市场的原因，锐康迪官方在1月13日向经济观察报出示的声明中提到："这一决定是基于近期的市场和监管动态，包括奥唑司他申请2025年国家 医保药品目录的否决结果。" 事实上，国家医保局一直在加大对罕见病的保障力度，2018年至今，已有约100种罕见病用药被纳入国家医保药品目录。 锐康迪有过一段激进扩张的时期，在 ...