HK Stock Market Move | Innovative drug concept stocks explode with over 600 drugs passing preliminary review "medical insurance + commercial insurance" dual-list negotiation enters substantive stage.

Concept stocks of innovative drugs are experiencing a new outbreak. As of the time of publication, REMEGEN (09995) rose by 17.16% to 81.6 Hong Kong dollars; KEYMED BIO-B (02162) rose by 13.66% to 72.8 Hong Kong dollars; AKESO (09926) rose by 13.57% to 94.6 Hong Kong dollars; INNOVENT BIO (01801) rose by 7.39% to 80.7 Hong Kong dollars. On the news front, according to the National Medical Insurance Administration, 557 drugs passed the preliminary review of the medical insurance catalog on June 29, and 54 drugs passed the preliminary review of the commercial insurance innovative drug catalog. This signifies that the "medical insurance + commercial insurance" dual-catalog negotiation has entered a substantive stage, with newly introduced pre-application and 8-year price protection mechanisms simultaneously implemented. China Securities Co., Ltd. pointed out that the dual-driving force of medical insurance negotiation and commercial insurance innovative drug catalog is continuously improving the accessibility of innovative drugs. The efficiency of medical insurance negotiations has significantly improved, with the average price reduction of negotiated drugs stabilizing. The approval rate for truly innovative varieties remains high. By 2025, the "commercial insurance innovative drug catalog" will be established for the first time, potentially expanding the market space for innovative drugs. Huayuan Securities believes that the innovative drug industry has completed the transition from old to new energy, and the trend of innovation replacing imitation has been established.