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The three-day new round of national medical insurance negotiations has ended, and the results of the negotiations are expected to be announced at the end of November
.
It is understood that the National Medical Insurance Bureau has conducted four rounds of medical insurance access negotiations since its establishment in 2018
.
The average price drop in the previous three rounds of negotiations was 56.
7%, 60.
7%, and 53.
8%, respectively, which has reduced the burden of patients by 170 billion yuan and benefited 100 million patients
.
The agency believes that the general direction of medical insurance negotiations to encourage drug innovation remains unchanged, and it is recommended to focus on investment opportunities in the field of innovative drugs
.
The agency's analysis pointed out that reviewing the previous negotiations, the overall decline was stable.
It is expected that this negotiation will be stable and improving.
In the case of more and more standardized clinical drug management, innovative drugs that enter the medical insurance catalog are expected to quickly achieve commercialization, which is especially good for business.
Biotech, a company that lacks chemical capabilities
.
It is expected that innovative drug companies such as Hengrui Pharmaceutical, Rongchang Biological, Iris, Betta Pharmaceuticals, BeiGene, Xinda Biological, Junshi Biological and other innovative drug companies are expected to benefit, while focusing on recommending investment opportunities in the innovative drug industry chain
.
It is understood that among the 34 innovative drugs that were launched from 2016 to 2020, 26 have entered the medical insurance catalog
.
These innovative drugs entering the medical insurance will often achieve a short-term increase in their consumption through price cuts
.
Clinical drug data shows that the growth rate of negotiated drug consumption in 2017 peaked from Q1 of 2018 to Q1 of 2019, with a year-on-year growth rate of 100% to 135% in each quarter; the growth rate of negotiated drug consumption in 2018 was from Q4 to 2018.
In Q4 of 2019, there was a rapid growth, of which the year-on-year growth rate of Q2 and Q3 in 2019 was as high as 1349% and 1582%
.
In addition, since 2020, due to the reduction in outpatients, the total drug consumption has dropped sharply, but the growth rate of newly negotiated drug consumption in 2019 is still showing a significant growth trend: 2020 Q3 and Q4 consumption year-on-year growth rates of 657.
6% and 768.
6%; 2020 The newly negotiated drugs will be officially implemented on March 1, 2021, and the quarterly consumption growth rate reached 55% year-on-year
.
It can be seen that innovative drugs can indeed achieve rapid doses after entering the medical insurance
.
Yuekai Securities also pointed out that medical insurance negotiations, as an important catalyst for increasing the volume of drugs, are an important link between the development and commercialization of innovative drugs
.
Although the cost of including medical insurance is a substantial profit, in the volume-price game, drugs can often enjoy the dividends of drugs entering the hospital and the increase in demand for new patients, and ultimately bring incremental contributions to varieties through price-for-volume exchange
.
The agency recommends seizing investment opportunities such as innovative drugs
.
According to relevant agencies, it is estimated that about 20 domestically-made innovative drug varieties will be negotiated for the first time this year
.
According to the classification of diseases, 12 of these 20 varieties are innovative anti-tumor drugs; the other 4 are anti-infective drugs, one for each of metabolic disease drugs, autoimmune disease drugs, blood disease drugs, and anesthetics
.
It involves PARP inhibitors, BTK inhibitors, ALK inhibitors, ADC drugs (antibody-coupled drugs), CAR-T therapy (chimeric antigen receptor T cell immunotherapy) and other innovative drugs, involving Hengrui Medicine, Baidu Many important varieties of listed pharmaceutical companies such as Jeshenzhou, Rongchang Bio, Roche, Pfizer, etc.
, have attracted a lot of attention in the market
.
At present, 1.
2 million injections of CAR-T therapy have been reported that they are not eligible for medical insurance negotiations
.
Among the remaining innovative drugs, negotiations on new indications for PD-1 monoclonal antibodies are still the focus of the industry.
The industry expects that the competitive landscape this year will be relatively eased
.
Soochow Securities predicted in its research report that after this negotiation, Cinda’s PD1 annual treatment cost will be reduced to about 35,000 yuan, and the PD1 monoclonal antibody of Hengrui and BeiGene will also reduce the annual treatment cost to 35,000 yuan.
The price of Junshi PD1 monoclonal antibody may be reduced to less than 30,000 yuan to cope with competition
.
.
It is understood that the National Medical Insurance Bureau has conducted four rounds of medical insurance access negotiations since its establishment in 2018
.
The average price drop in the previous three rounds of negotiations was 56.
7%, 60.
7%, and 53.
8%, respectively, which has reduced the burden of patients by 170 billion yuan and benefited 100 million patients
.
The agency believes that the general direction of medical insurance negotiations to encourage drug innovation remains unchanged, and it is recommended to focus on investment opportunities in the field of innovative drugs
.
The agency's analysis pointed out that reviewing the previous negotiations, the overall decline was stable.
It is expected that this negotiation will be stable and improving.
In the case of more and more standardized clinical drug management, innovative drugs that enter the medical insurance catalog are expected to quickly achieve commercialization, which is especially good for business.
Biotech, a company that lacks chemical capabilities
.
It is expected that innovative drug companies such as Hengrui Pharmaceutical, Rongchang Biological, Iris, Betta Pharmaceuticals, BeiGene, Xinda Biological, Junshi Biological and other innovative drug companies are expected to benefit, while focusing on recommending investment opportunities in the innovative drug industry chain
.
It is understood that among the 34 innovative drugs that were launched from 2016 to 2020, 26 have entered the medical insurance catalog
.
These innovative drugs entering the medical insurance will often achieve a short-term increase in their consumption through price cuts
.
Clinical drug data shows that the growth rate of negotiated drug consumption in 2017 peaked from Q1 of 2018 to Q1 of 2019, with a year-on-year growth rate of 100% to 135% in each quarter; the growth rate of negotiated drug consumption in 2018 was from Q4 to 2018.
In Q4 of 2019, there was a rapid growth, of which the year-on-year growth rate of Q2 and Q3 in 2019 was as high as 1349% and 1582%
.
In addition, since 2020, due to the reduction in outpatients, the total drug consumption has dropped sharply, but the growth rate of newly negotiated drug consumption in 2019 is still showing a significant growth trend: 2020 Q3 and Q4 consumption year-on-year growth rates of 657.
6% and 768.
6%; 2020 The newly negotiated drugs will be officially implemented on March 1, 2021, and the quarterly consumption growth rate reached 55% year-on-year
.
It can be seen that innovative drugs can indeed achieve rapid doses after entering the medical insurance
.
Yuekai Securities also pointed out that medical insurance negotiations, as an important catalyst for increasing the volume of drugs, are an important link between the development and commercialization of innovative drugs
.
Although the cost of including medical insurance is a substantial profit, in the volume-price game, drugs can often enjoy the dividends of drugs entering the hospital and the increase in demand for new patients, and ultimately bring incremental contributions to varieties through price-for-volume exchange
.
The agency recommends seizing investment opportunities such as innovative drugs
.
According to relevant agencies, it is estimated that about 20 domestically-made innovative drug varieties will be negotiated for the first time this year
.
According to the classification of diseases, 12 of these 20 varieties are innovative anti-tumor drugs; the other 4 are anti-infective drugs, one for each of metabolic disease drugs, autoimmune disease drugs, blood disease drugs, and anesthetics
.
It involves PARP inhibitors, BTK inhibitors, ALK inhibitors, ADC drugs (antibody-coupled drugs), CAR-T therapy (chimeric antigen receptor T cell immunotherapy) and other innovative drugs, involving Hengrui Medicine, Baidu Many important varieties of listed pharmaceutical companies such as Jeshenzhou, Rongchang Bio, Roche, Pfizer, etc.
, have attracted a lot of attention in the market
.
At present, 1.
2 million injections of CAR-T therapy have been reported that they are not eligible for medical insurance negotiations
.
Among the remaining innovative drugs, negotiations on new indications for PD-1 monoclonal antibodies are still the focus of the industry.
The industry expects that the competitive landscape this year will be relatively eased
.
Soochow Securities predicted in its research report that after this negotiation, Cinda’s PD1 annual treatment cost will be reduced to about 35,000 yuan, and the PD1 monoclonal antibody of Hengrui and BeiGene will also reduce the annual treatment cost to 35,000 yuan.
The price of Junshi PD1 monoclonal antibody may be reduced to less than 30,000 yuan to cope with competition
.
