Beijing, July 1st (Zhao Fangyuan) On July 1st, the 'Several Measures' to Support the High-Quality Development of Innovative Drugs issued by the National Medical Insurance Administration and the National Health Commission (hereinafter referred to as the 'Several Measures') were released to the public. The document explicitly states the promotion of the global market development of innovative drugs.

From the perspective of specific measures, the 'Several Measures' clearly states that it is necessary to give full play to the advantages of our country's huge production capacity, super large market, and rich experience, actively promote the development achievements of Chinese innovative drugs in international exchanges and cooperation. Encourage and guide regions with conditions to explore the establishment of global innovative drug trading platforms facing Southeast Asia, Central Asia, and other countries jointly building the Belt and Road Initiative, and strengthen international promotion. Support innovative drug companies to leverage the relevant advantages of Hong Kong and Macau to promote the entry of Chinese innovative drugs into the world. Encourage more innovative drugs to enter the Chinese market to better meet the needs of the people.

Wang Xiaoning, Director of the Price and Procurement Department of the National Medical Insurance Administration, introduced at a policy interpretation press conference held on the 1st day,In 2024, Chinese pharmaceutical companies completed more than 90 overseas licensing transactions, with a total amount exceeding 50 billion US dollars

Wang Xiaoning also pointed out that the 'Several Measures' specifically emphasize the promotion of the global market development of innovative drugs. The basic considerations include three aspects:

The first measure is to build a platform to help expand the overseas market. This year, the National Medical Insurance Administration has guided Guangxi to rely on the China-ASEAN Medical Regional Procurement Platform to actively promote domestic drugs and medical consumables into ASEAN countries, and at the same time, innovatively establish a convenient cross-border drug purchase service channel. This marks a substantial step forward in cross-border exchange and cooperation in the field of pharmaceutical procurement. The next step is for the National Medical Insurance Administration to support more regions with conditions to give full play to their locational advantages, build innovative drug trading platforms, and strengthen international promotion.

The second measure is to broaden the thinking and promote the rapid development of innovative enterprises. Given that the research and development cycle of the biopharmaceutical industry is long and the investment is large, the 'Several Measures' specifically proposes to support and encourage commercial insurance to expand the scale of investment in innovative drugs, and cultivate patient capital that supports innovative drugs. The National Medical Insurance Administration will also support innovative drug companies to leverage the relevant advantages of Hong Kong and Macau to promote the entry of Chinese innovative drugs into the world. It is also encouraged to have more innovative drugs enter the Chinese market to better meet the needs of the people.

The third measure is to provide price support to help innovative drugs go global. In order to support the overseas listing of innovative drugs, the National Medical Insurance Administration is prepared to learn from international practices and implement a confidential negotiation price mechanism based on the principle of voluntary participation by enterprises. In particular, for drugs included in the commercial insurance innovative drug catalog, a more stringent confidential price mechanism will be explored. In the future, the National Medical Insurance Administration will take more effective measures to provide more support for innovative drugs to 'go global' in terms of price.