弘则消费｜ 2025年下半年国内药品有哪些需要关注的政策？

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the pharmaceutical industry in China, focusing on upcoming policies and their implications for innovation and market dynamics. Core Insights and Arguments 1. Introduction of Class B Directory: The anticipated launch of the Class B directory or commercial insurance directory in the second half of 2025 is expected to shift the focus of national policy towards efficiency, benefiting innovative drug pricing and commercial insurance development [1][3][5]. 2. Optimized National Procurement Policy: An optimized national procurement policy is being formulated, with expectations that the 11th batch of procurement rules will be more favorable than the 10th batch, indicating a positive trend in domestic pharmaceutical policies [1][6][7]. 3. Impact of Class B Directory on Innovative Drugs: The Class B directory is crucial for the innovative drug sector as it allows for higher demand satisfaction through commercial insurance, facilitating market access and pricing for innovative drugs [1][5]. 4. Medicare Negotiations: Ongoing Medicare negotiations for 2025 are expected to follow similar timelines as previous years, with some drug prices potentially exceeding expectations, particularly for major products [1][9]. 5. Support for Innovative Drug Development: The government is implementing various policies to support innovative drug development, including reducing review and approval times to 30 days, reflecting an increased focus on the pharmaceutical industry [1][10]. 6. International Market Expansion: Domestic companies are increasingly supported in their international market expansion efforts, with policies aimed at promoting the export of high-quality products to regions like Southeast Asia and Europe [1][11][12]. Additional Important Content 1. Changes in Basic Drug Directory Importance: The importance of the basic drug directory is diminishing due to annual updates in the Medicare directory and the existence of procurement varieties, making the medical alliance drug directory more significant for hospital access [1][4][13]. 2. DRG Policy Impact: The DRG policy, which was fully implemented in 2024, has had a significant impact on the pharmaceutical industry, with adjustments expected to make its effects more manageable by 2025 [1][14][15]. 3. Regional Variations in Healthcare Reform: The implementation of the Sanming healthcare reform varies by region, with larger cities adapting the model to fit local needs rather than following it strictly [1][16]. 4. Drug Lifecycle Pricing Management: There are expectations for progress in drug lifecycle pricing management policies, with potential actions anticipated in the second half of 2025 [1][17]. 5. Tariff Implications on Exports and Imports: Current tariff discussions, particularly regarding the U.S., may not significantly impact China's pharmaceutical exports, while imports remain unaffected due to low tariffs [1][18][19].