HK Stock Market Move | CARSGEN-B(02171) rose more than 8% in intraday trading. CAR-T drugs are expected to enter commercial insurance. Zevorcinoluncel injection had passed the preliminary examination before.

CARSGEN-B (02171) rose by more than 8% during the trading day, reaching a 6.31% increase at the time of this report, at 17.52 Hong Kong dollars, with a trading volume of 51.9354 million Hong Kong dollars. On the news front, it was reported that on November 2, the fourth day of the 2025 national medical insurance negotiation took place. After the negotiators from Hengyuan Biological concluded the price negotiations, they stated that it went smoothly, but the final result will be subject to the announcement by the medical insurance bureau. This means that CAR-T drugs, including Hengyuan Pharmaceuticals' naloxone injection, are expected to make a breakthrough in the price negotiations for this year's commercial insurance innovative drug directory. It is reported that there are already 7 approved CAR-T products in China, all priced over one million yuan, with 5 of them undergoing review through the commercial insurance directory, including Koji Pharmaceuticals' zevoqi naloxone injection. Some market participants pointed out that if CAR-T is included in the commercial insurance directory, it could improve patient access, reduce payment burdens, alleviate pressure on pharmaceutical companies to lower prices, expand market share, and promote reasonable returns for high-value innovative therapies. Companies generally believe that this move breaks away from the logic of "market share in exchange for price reduction" and alleviates business pressures.