Core Viewpoint - Sanofi is leveraging the China International Import Expo (CIIE) as a platform to showcase its innovative biopharmaceutical products, aiming to enhance the accessibility of global healthcare solutions in China [1][4]. Group 1: Participation in CIIE - Sanofi has been a consistent participant in the CIIE for eight years and has confirmed its participation in the upcoming ninth edition, emphasizing its commitment to connecting global innovation with China's healthcare needs [1][3]. - The company showcased several products at the inaugural CIIE, highlighting their journey from initial presentation to clinical application in China, referred to as "CIIE babies" [1][4]. Group 2: Product Innovations - Sanofi presented key products that have transitioned from previous CIIE showcases to clinical practice, including Dupixent (dupilumab injection), which has been approved for seven indications in China, covering skin and respiratory treatment areas [1][2]. - The company also introduced Nirsevimab, a long-acting monoclonal antibody for preventing respiratory syncytial virus (RSV) infections in infants, demonstrating a successful transition from international debut to local availability [1][2]. Group 3: Strategic Collaborations and Investments - Sanofi has signed a strategic cooperation agreement with local biotech company Yanshengchao at the CIIE, marking a shift from being merely an exhibitor to an investor, thereby deepening its local engagement [3]. - The company is investing €1 billion in a new insulin raw material project in Beijing, reinforcing its commitment to local production and supply chain stability [3][4]. Group 4: Future Commitment - Sanofi aims to continue its investment in China and enhance its "China solutions" to support the vision of "Healthy China," ensuring that innovative healthcare products reach patients more efficiently [4].

Group 1 - The new National Medical Insurance Drug List includes 114 new drugs, increasing the total number of drugs to 3,253, with 1,857 Western medicines and 1,396 traditional Chinese medicines [1] - The inclusion of 50 innovative drugs marks a historical high, featuring several "global first" and "first domestic" products, enhancing access to breakthrough therapies for patients [1] - Notable multinational pharmaceutical companies like Novartis and Johnson & Johnson have successfully included multiple new products and indications in the updated insurance list, benefiting a large number of patients [1][2] Group 2 - Domestic pharmaceutical company Heng Rui has 11 anti-tumor products included in the new insurance list, showcasing significant innovations and new indications [2] - Innovative drugs filling gaps in basic medical insurance coverage include Sanofi's anti-CD38 monoclonal antibody and Hansoh Pharmaceutical's third-generation EGFR-targeted drug, both of which offer new treatment standards for critical diseases [3] - Since the establishment of the National Medical Insurance Bureau in 2018, a total of 949 new drugs have been added to the insurance list, significantly boosting the pharmaceutical market and enhancing the clinical medication level in China [4]

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]

Core Viewpoint - Sanofi is actively contributing to the "Healthy China" initiative by showcasing innovative drugs and vaccines at the 8th China International Import Expo, focusing on major health issues such as cardiovascular diseases, metabolic disorders, respiratory diseases, and cancer [1][2]. Group 1: Innovative Products and Collaborations - Sanofi presented ten first-in-class or best-in-class innovative products, including two groundbreaking cardiovascular therapies making their global debut: Afikaytai tablets and Pulesiran sodium injection [2][3]. - The company is deepening strategic collaborations with local partners to enhance the pharmaceutical innovation ecosystem in China, exemplified by the establishment of the Sanofi-Kaihui Pharmaceutical Innovation Fund [2][3]. Group 2: Commitment to Local Development - Sanofi has been accelerating the approval and market entry of innovative drugs in China, evidenced by the successful launch of multiple products, including the first targeted therapy for immune-mediated thrombotic thrombocytopenic purpura [4][5]. - The company is transitioning from being an exhibitor to an investor, increasing its investment in local production and innovation, including a recent €1 billion investment in a Beijing insulin raw material project [6].