Futu News reported on September 25 that pharmaceutical stocks have continued to rebound in recent days. As of press release, BeiGene has reached a record high of nearly 7%, Fosun Pharmaceutical has risen 5%, Hygia Healthcare and Conxino Biotech have risen 3%, and Pharmaceutical Ming Kangde and Cinda Biotech have risen 2%.

The Health Insurance Administration recently released the application list of drugs from the 20-year health insurance catalogue that has passed formal review. On September 18, the National Health Insurance Administration issued the “2020 National Health Insurance Drug Catalogue Adjustment and Form Examination List”, which covered nearly 751 drugs. After the publicity period, they will enter the expert review stage.

Anxin Securities believes that the PD-1/L1 competition pattern will become increasingly clear. The announcement list includes all PD-1/L1 products marketed domestically: Roche's atirizumab, AstraZeneca's dovalizumab, Bristolimab's navulizumab, MSD's pavolizumab, Junshi's treplizumab, BeiGene's tirelizumab, and Hengrui's carelizumab.

After Cinda's cindilizumab was covered by health insurance last year, the dosage situation was ideal. It is expected that after this health insurance negotiation, the advantages of leading local companies that are deeply deployed in major indications will become more obvious, and they will further gain market share from foreign-funded pharmaceutical companies.