科创板药企前沿疗法加速惠及患者 截至目前，科创板生物医药企业近九成已获批新药得到了医保支持。业内人士表示，在政策明确、路径 清晰的有利环境下，科创板创新药公司的硬科技实力得以加速步入价值释放期，迎来快速发展与成果收 获。 例如，科创板创新药公司君实生物产品君适达(通用名：昂戈瑞西单抗注射液)首次纳入医保目录，是新 版目录中唯一用于他汀不耐受人群的国产PCSK9靶点药物。目前，包括君适达在内，君实生物已有4款 商业化产品被纳入国家医保目录。 今年5月底，科创板创新药公司海创药业自主研发的首款上市药物海纳安(通用名：氘恩扎鲁胺软胶囊) 获批上市，用于治疗转移性去势抵抗性前列腺癌。海创药业表示，该药物被纳入2025年医保目录将有利 于后续市场推广，进一步减轻患者用药负担，提升药品可及性。 随着2025年国家医保药品目录及首版商保创新药目录发布，科创板创新药企在此次关键谈判中斩获颇 丰。 具体来看，科创板公司共9款创新药首次纳入目录，另有多款代表性创新药实现成功续约或扩大适应 症，充分彰显了科创板创新药企的硬核实力。 此外，本次国家层面首次同步发布商保创新药目录，标志着"医保+商保"协同支付的多层次保障体系取 得实质 ...

科创板公司共9款创新药首次纳入新版国家医保目录，另有多款代表性创新药实现成功续约或扩大适应 症，充分彰显了科创板创新药企的硬核实力与蓬勃生机。此外，科创板龙头药企百济神州有限公司(以 下简称"百济神州")的百赫安(通用名：注射用泽尼达妥单抗)、凯泽百(通用名：达妥昔单抗β注射液)2款 产品入选首版商保创新药目录，前沿产品获得了更广阔的支付路径，为产业高质量发展注入新动能。 前沿疗法加速惠及患者 在政策明确、路径清晰的有利环境下，科创板创新药公司的硬科技实力得以加速步入价值释放期，迎来 快速发展与成果收获。截至目前，科创板生物医药企业近九成已获批新药得到了医保支持。 科创板创新药公司上海君实生物医药科技股份有限公司(以下简称"君实生物")产品君适达(通用名：昂戈 瑞西单抗注射液)首次纳入医保目录，是新版国家医保目录中唯一用于他汀不耐受人群的国产PCSK9靶 点药物。 科创板创新药公司海创药业股份有限公司(以下简称"海创药业")自主研发的首款上市药物海纳安(通用 名：氘恩扎鲁胺软胶囊)于2025年5月底获批上市，用于治疗转移性去势抵抗性前列腺癌。海创药业表 示，该药物被纳入2025年医保目录将有利于后续市场推广， ...

人民财讯12月7日电，百济神州今日宣布有多款商业化产品及新增适应症进入国家医疗保障局发布的 《国家基本医疗保险、生育保险和工伤保险药品目录(2025年)》以及《商业健康保险创新药品目录(2025 年)》。 今年首次发布的商保创新药目录纳入了百赫安(注射用泽尼达妥单抗)和凯泽百(达妥昔单抗β注射液)这两 款由百济神州引进并负责商业化的产品，分别用于治疗HER2高表达(IHC3+)的不可切除局部晚期或转移 性胆道癌(BTC)患者，以及高危和复发难治性神经母细胞瘤患者。 ...

Core Viewpoint - The Chinese innovative pharmaceutical industry is experiencing a significant breakthrough, marked by a surge in new drug approvals and business development (BD) transactions, leading to a re-evaluation of the sector's market value and a shift in investor expectations towards stable dividends [1][3][11]. Group 1: Market Dynamics - The innovative drug sector in China has seen a strong rise in the secondary market, with the A-share and Hong Kong stock markets' innovative drug indices increasing by 32.79% and over 70% respectively from April 8 to June 16 [3][4]. - Notable individual stocks, such as Shuyou Pharmaceutical and Changshan Pharmaceutical, have seen their prices double, with Shuyou's stock price increasing by over 500% since April 8 [3][6]. - The core drivers of this market rally include active BD transactions and the commercialization of innovative drugs, as investor sentiment shifts from pessimism to optimism regarding domestic medical demand [3][4]. Group 2: Regulatory and Policy Support - The National Medical Products Administration (NMPA) has been actively optimizing the clinical trial review and approval process for innovative drugs, aiming to enhance the efficiency of drug development and reduce time to market [1][10]. - Recent policy changes are expected to further support innovative drug research and development, with a focus on clinical value [10][11]. Group 3: Business Development Trends - Chinese innovative pharmaceutical companies are increasingly engaging in BD transactions, with a record-breaking upfront payment of $12.5 billion from Pfizer to 3SBio for an ADC pipeline, highlighting the growing interest from international firms [7][8]. - The first quarter of 2025 saw a significant increase in License-out transactions, with 41 deals totaling $369.29 billion, indicating a shift in funding strategies for innovative drug companies [8][9]. - The trend of License-out has become a primary funding source for unprofitable innovative drug companies, allowing them to monetize their pipelines amid a challenging financing environment [8][9]. Group 4: Commercialization and Profitability - The commercialization of innovative drugs is gaining momentum, with 20 new class 1 innovative drugs approved in the first five months of the year, setting a record for the past five years [10][11]. - Leading innovative pharmaceutical companies are reaching breakeven points, with companies like BeiGene expected to achieve positive operating profits by 2025, marking a significant milestone for the industry [11][12]. - As companies begin to realize profits, their negotiating power in BD transactions is increasing, allowing them to retain more favorable terms in agreements with international partners [12][13]. Group 5: Competitive Landscape - The competition in the innovative drug sector is intensifying, particularly in the ADC and bispecific antibody platforms, with over 100 companies entering the PD-1/PD-L1 space, leading to a crowded market [13][14]. - Companies are focusing on developing First-in-Class pipelines to differentiate themselves and avoid the pitfalls of homogenous competition [13][14]. - The need for innovative drug companies to enhance their clinical and commercialization capabilities is critical for competing on a global scale and reducing reliance on international partners [14][15].