China's NRDL Set to Launch Next Year; BEONE MEDICINES Secures Two Drugs on Shortlist
New Drug Lists Announced: The National Healthcare Security Administration and the Ministry of Human Resources and Social Security released the "Drugs Catalogue for the National Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance (2025)" and the "Commercial Health Insurance Innovative Drug List (2025)", effective January 1, 2026.
Successful Additions to NRDL: The National Reimbursement Drug List (NRDL) added 114 new drugs, including 50 innovative drugs, achieving an 88% success rate, surpassing the previous year's 76%.
Innovative Drugs Highlighted: The commercial health insurance list features 19 drugs from 18 companies, with BEONE MEDICINES being the only company with two drugs listed, including five CAR-T cell therapies for cancer treatment.
Market Performance of Listed Companies: BEONE MEDICINES' stock was priced at HKD194.8, down 1.62%, while JW THERAP-B saw an increase to HKD3.29, up 6.82%, reflecting active trading volumes for both companies.
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China's NRDL Set to Launch Next Year; BEONE MEDICINES Secures Two Drugs on Shortlist
New Drug Lists Announced: The National Healthcare Security Administration and the Ministry of Human Resources and Social Security released the "Drugs Catalogue for the National Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance (2025)" and the "Commercial Health Insurance Innovative Drug List (2025)", effective January 1, 2026.
Successful Additions to NRDL: The National Reimbursement Drug List (NRDL) added 114 new drugs, including 50 innovative drugs, achieving an 88% success rate, surpassing the previous year's 76%.
Innovative Drugs Highlighted: The commercial health insurance list features 19 drugs from 18 companies, with BEONE MEDICINES being the only company with two drugs listed, including five CAR-T cell therapies for cancer treatment.
Market Performance of Listed Companies: BEONE MEDICINES' stock was priced at HKD194.8, down 1.62%, while JW THERAP-B saw an increase to HKD3.29, up 6.82%, reflecting active trading volumes for both companies.
<Research>CICC Expects Commercial Insurance Innovative Drug Catalog Adjustments to Help High-Value Innovative Drugs Land
Drug Catalog Adjustments: China's NHSA has announced the preliminary review of adjustments to drug catalogs for basic medical insurance, maternity insurance, work injury insurance, and commercial insurance, with 534 drugs passing the review. A dual catalog mechanism is expected to be implemented to differentiate between essential clinical drugs and high-value innovative drugs.
Investment Opportunities: CICC predicts that the expansion of commercial insurance will encourage investment in innovative drug R&D, benefiting companies like BEIGENE and others listed, as they focus on high-value drugs not covered by standard medical insurance.
<Research>CICC Ratings, TPs on Medical Health Stocks (Table)
Stock Performance Overview: Several pharmaceutical stocks in Hong Kong, including SKB BIO-B and INNOVENT BIO, showed positive gains with notable short selling ratios, indicating varying investor sentiments and market dynamics.
Market Insights: Analysts maintain an "Outperform" rating on multiple companies like HENGRUI PHARMA and CSPC PHARMA, highlighting strong fundamentals despite some stocks experiencing price weakness.
<H Shrs>HSI Drops 242 Pts at Midday as Techs Wane; Pharmas Remain Popular
Market Performance: The HSI fell 242 points (0.9%) to 25,319, with significant declines in tech stocks such as Alibaba and Tencent, while the total half-day turnover reached $142.406 billion.
Pharmaceutical Gains: WUXI APPTEC reported a 96% increase in interim net profit, leading to a 10.3% rise in its stock price, alongside other pharmaceutical companies like LUYE PHARMA and PHARMARON also experiencing notable gains.
China's NRDL Set to Launch Next Year; BEONE MEDICINES Secures Two Drugs on Shortlist
New Drug Lists Announced: The National Healthcare Security Administration and the Ministry of Human Resources and Social Security released the "Drugs Catalogue for the National Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance (2025)" and the "Commercial Health Insurance Innovative Drug List (2025)", effective January 1, 2026.
Successful Additions to NRDL: The National Reimbursement Drug List (NRDL) added 114 new drugs, including 50 innovative drugs, achieving an 88% success rate, surpassing the previous year's 76%.
Innovative Drugs Highlighted: The commercial health insurance list features 19 drugs from 18 companies, with BEONE MEDICINES being the only company with two drugs listed, including five CAR-T cell therapies for cancer treatment.
Market Performance of Listed Companies: BEONE MEDICINES' stock was priced at HKD194.8, down 1.62%, while JW THERAP-B saw an increase to HKD3.29, up 6.82%, reflecting active trading volumes for both companies.
<Research>CICC Expects Commercial Insurance Innovative Drug Catalog Adjustments to Help High-Value Innovative Drugs Land
Drug Catalog Adjustments: China's NHSA has announced the preliminary review of adjustments to drug catalogs for basic medical insurance, maternity insurance, work injury insurance, and commercial insurance, with 534 drugs passing the review. A dual catalog mechanism is expected to be implemented to differentiate between essential clinical drugs and high-value innovative drugs.
Investment Opportunities: CICC predicts that the expansion of commercial insurance will encourage investment in innovative drug R&D, benefiting companies like BEIGENE and others listed, as they focus on high-value drugs not covered by standard medical insurance.
<Research>CICC Ratings, TPs on Medical Health Stocks (Table)
Stock Performance Overview: Several pharmaceutical stocks in Hong Kong, including SKB BIO-B and INNOVENT BIO, showed positive gains with notable short selling ratios, indicating varying investor sentiments and market dynamics.
Market Insights: Analysts maintain an "Outperform" rating on multiple companies like HENGRUI PHARMA and CSPC PHARMA, highlighting strong fundamentals despite some stocks experiencing price weakness.
<H Shrs>HSI Drops 242 Pts at Midday as Techs Wane; Pharmas Remain Popular
Market Performance: The HSI fell 242 points (0.9%) to 25,319, with significant declines in tech stocks such as Alibaba and Tencent, while the total half-day turnover reached $142.406 billion.
Pharmaceutical Gains: WUXI APPTEC reported a 96% increase in interim net profit, leading to a 10.3% rise in its stock price, alongside other pharmaceutical companies like LUYE PHARMA and PHARMARON also experiencing notable gains.
