Core Viewpoint - The National Healthcare Security Administration (NHSA) has announced the latest version of the National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalog, which includes 114 new drugs and introduces the Commercial Health Insurance Innovative Drug Catalog for 2025, marking the eighth adjustment since the NHSA's establishment and the first addition of a commercial insurance catalog [1][2]. Group 1: Drug Catalog Adjustments - A total of 114 new drugs have been added to the national medical insurance catalog, including 50 Class 1 innovative drugs, while 29 drugs have been removed due to lack of clinical supply or better alternatives [2]. - The new catalog includes drugs addressing significant diseases such as triple-negative breast cancer, pancreatic cancer, and lung cancer, as well as treatments for rare diseases and chronic conditions like diabetes and autoimmune diseases [2]. - The overall success rate for the newly added innovative drugs is 88%, an increase from 76% in 2024 [2]. Group 2: Market Impact and Growth Potential - The inclusion of innovative drugs in the insurance catalog is expected to lead to rapid revenue growth for these drugs, benefiting patients and driving growth for related pharmaceutical companies [3]. - Zhongtai Securities predicts that the innovative drug market will continue to thrive, noting that the current market conditions have returned to a relatively reasonable and low position, enhancing investment safety margins and return values [3]. Group 3: Company Announcements - Green Leaf Pharmaceutical has successfully included five new products in the national medical insurance and commercial health insurance catalogs, including MiMeiXin and ZhanBiJia [4]. - Fuhong Hanlin announced that its product Fuzhining has been included in the national medical insurance catalog for 2025 [5]. - Innovent Biologics reported that seven of its innovative products have been successfully added to the new national medical insurance catalog, including the PD-1 monoclonal antibody drug [6].