The medical insurance negotiation in 2024 is expected to start soon, and multiple domestic innovative drugs will participate in this year's medical insurance negotiation.
Zhongtong Finance and Economics APP has learned that Guotou Securities released a research report stating that the medical insurance negotiation in 2024 is expected to start soon, with multiple domestic innovative drugs participating in this year's medical insurance negotiation. From a policy perspective, the National Medical Insurance Administration has announced the '2024 National Basic Medical Insurance, Work Injury Insurance, and Maternity Insurance Drug Catalog Adjustment Work Plan'. According to the adjustment work plan, the 2024 national drug catalog adjustment work process consists of preparation, application, expert review, negotiation/bidding phase, and result announcement, a total of 5 stages. In terms of the drugs involved in the negotiation, multiple drugs will undergo initial negotiation, new indication negotiation, and renewal negotiation, indicating that domestic innovative drug medical insurance negotiations have entered a normalized stage.
A total of approximately 41 domestic innovative drugs are undergoing negotiations for new drugs in this medical insurance negotiation. According to Guotou Securities, a total of about 41 domestic exclusive innovative drugs (including those introduced) have passed the formal review in this medical insurance negotiation, including 28 innovative drugs newly approved for listing between July 1, 2023, and June 30, 2024, and 13 innovative drugs approved for listing before July 1, 2023.
Key negotiation varieties & key company negotiation summary: In terms of key negotiation varieties, negotiations on multiple varieties such as PD-1/PD-L1 drugs, third-generation EGFR TKIs, HER2 ADC and small molecules, PCSK9 drugs, EGFR exon20ins NSCLC drugs, multiple myeloma drugs, sedative drugs, CAR-T, etc., are worth paying attention to; In terms of key companies, Jiangsu Hengrui Pharmaceuticals, Betta Pharmaceuticals, DiXii Pharmaceuticals, Akeso, Sino Biopharm, Haisco Pharmaceutical Group, Beigene, Innovent Bio, Hansoh Pharma, and other companies all have relevant drugs participating in this medical insurance negotiation. If their future products can be smoothly included in the medical insurance catalog, it will help their long-term sales growth.
Recommend focusing on symbols:
A-shares: Betta Pharmaceuticals (300558.SZ), Jiangsu Hengrui Pharmaceuticals (600276.SH), DiXii Pharmaceuticals (688192.SH), Haisco Pharmaceutical Group (002653.SZ), Zejing Pharmaceuticals (688266.SH), Zhejiang Jingxin Pharmaceutical (002020.SZ), Wuhan Hiteck Biological Pharma (300683.SZ), Shanghai Yizhong (688091.SH), Beigene (688235.SH), Junshi Bio (688180.SH), Yifang Bio (688382.SH), Shenzhen Chipscreen Biosciences (688321.SH), Bio-Thera Solutions (688177.SH), etc.
H-shares: Akeso (09926), Hutchmed (China) (01952), Sino Biopharm (01177), Innovent Bio (01801), Zai Lab (09688), Simcere Pharma (02096), Hutchmed (China) (00013), Hansoh Pharma (03692), etc.
Risk Warning: The risk of innovative drug medical insurance negotiations reducing prices more than expected, the risk of failure in innovative drug medical insurance negotiations, and the risk of uncertainty in pharmaceutical policy impact.
