On December 7, the 2025 High-Quality Development Conference for Innovative Drugs was held at the Guangzhou Baiyun International Convention Center, with a packed venue of over 1,000 attendees. A key agenda item was the announcement of the "National Reimbursement Drug List (NRDL) for Basic Medical Insurance, Maternity Insurance, and Work-Related Injury Insurance (2025)" (referred to as the NRDL) and the inaugural "Commercial Health Insurance Innovative Drug List (2025)" (referred to as the Commercial Insurance List).

Among the highlights, JW Therapeutics Vice President Fan Lin accepted an honorary plaque inscribed with "2025 Commercial Health Insurance Innovative Drug List," featuring the company's product "Relmacabtagene Autoleucel Injection" listed below. Fan remarked that JW Therapeutics had waited four years for this inclusion.

The 2025 NRDL added 114 new drugs, including 50 first-class innovative drugs such as tirzepatide and the domestically developed ADC drug sacituzumab govitecan. The Commercial Insurance List covered five domestically produced CAR-T cell therapies, two imported Alzheimer's drugs, and treatments for rare diseases.

The atmosphere at the conference reflected broader excitement beyond individual corporate achievements. For newly listed drugs, the "last mile" from lab to patient will accelerate significantly with reimbursement support, bolstering sustainable R&D investment cycles. For patients, the updated list represents expanded access to life-saving treatments.

**50 First-Class Innovative Drugs Included** The morning session at the convention center saw the unveiling of the 2025 NRDL and Commercial Insurance List, drawing both on-site and online viewership. Among the 114 additions, 50 were first-class innovative drugs, many approved in recent years.

Kelun-Biotech secured NRDL inclusion for three new drugs: sacituzumab govitecan, cetuximab N01, and tagraxofusp. CEO Ge Junyou noted the NRDL’s focus on addressing gaps in coverage, such as treatments for triple-negative breast cancer and lung cancer, reflecting national support for innovation and public welfare.

CMAB's autoimmune drug CMAB807, with three approved indications, was also added. The company highlighted this as a milestone for domestic innovation and improved affordability. Meanwhile, Akeso Biopharma achieved full coverage for all five of its self-developed drugs, including core bispecific antibodies and penpulimab, now reimbursed for high-prevalence conditions like hyperlipidemia and psoriasis.

Multinationals also featured prominently. Eli Lilly’s tirzepatide, approved for type 2 diabetes, was added within a year of launch—a move the company called a testament to its commitment to accessibility. Other newcomers included Sanofi’s isatuximab and Novartis’s inclisiran and brolucizumab. Novartis noted that 40+ of its drugs are now on the NRDL, with China approvals synchronized globally since 2022.

Post-adjustment, the NRDL totals 3,253 drugs (1,857 Western and 1,396 traditional Chinese medicines), with enhanced coverage for oncology, chronic diseases, mental health, rare diseases, and pediatrics. The list takes effect on January 1, 2026.

**Commercial Insurance List Gains Momentum** The eighth annual NRDL update drew exceptional attention due to the debut of the Commercial Insurance List, which addresses high-cost therapies like CAR-T, previously excluded from the NRDL due to pricing (often exceeding ¥1 million per treatment).

Five CAR-T therapies made the cut: Fosun Kite’s axicabtagene ciloleucel, JW Therapeutics’ relmacabtagene autoleucel, HebeCell’s navecabtagene autoleucel, IASO Bio’s equecabtagene autoleucel, and CARsgen’s zevorcabtagene autoleucel. Fosun Kite Chairman Zhang Wenjie hailed the list as a pivotal milestone for patient access.

Fan Lin confirmed pricing discounts (15%–50%) negotiated with insurers, though specifics remain undisclosed. She emphasized the list’s role in validating innovative drugs’ value through expert evaluation, while acknowledging implementation details are pending.

HebeCell CEO Lü Lulu outlined plans to expand patient access and gather real-world data, preparing for eventual NRDL inclusion. For rare disease drug velaglucerase alfa, CANbridge Pharmaceuticals’ China GM Gao Suya expressed optimism about resolving payment barriers.

**A Decade of Innovation** Observers marked 2025 as a new chapter for China’s biopharma sector, a decade after its "innovation era" began. Policy reforms have fueled growth, with 2025 also dubbed the "BD Year"—China now accounts for 33% of global licensing deals, up from <1% in 2016.

Despite industry momentum, reliance on NRDL reimbursement has been a bottleneck. July’s "Measures to Support Innovative Drug Development" proposed the Commercial Insurance List to diversify payment channels.

With the list’s launch imminent, companies like Fosun Kite and HebeCell plan deeper insurer collaborations to integrate therapies into regional "Huiminbao" schemes. Meanwhile, a dual-pricing mechanism introduced on December 2 allows Commercial Insurance List drugs to negotiate separate reimbursement rates, potentially unlocking market vitality.

These steps establish a dual-track framework: NRDL ensures basic access via volume-based pricing, while the Commercial Insurance List offers market-driven value recognition. Industry leaders like Zhou Liyun of PharmaGO praised the policy shift, foreseeing broader societal support for innovation.