国内商保发展和集采优化创新药产业链持续活跃

金证研2025-12-24

2025年，创新药BD井喷，出海打开市场空间，成为医药行情的主旋律。在政策对真创新、高水平创新的支持下，大量创新药BD仍等待2026年落地。随着国内商保发展和集采优化，创新药产业链高景气有望延续。当前支持创新药产业发展已成为政策导向，2025年北京、上海、重庆、四川等多地出台相关政策，推动创新药行业高质量发展。近日，2026年医保药品目录和商保药品目录发布，首次在基本医保目录之外增设商保创新药目录...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2593477930?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-12-24 21:11","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2593477930","market":"hk","top_or_hot":-1,"title":"国内商保发展和集采优化 创新药产业链持续活跃","media":"金证研","content":"<div>\n<p>2025年，创新药BD井喷，出海打开市场空间，成为医药行情的主旋律。在政策对真创新、高水平创新的支持下，大量创新药BD仍等待2026年落地。随着国内商保发展和集采优化，创新药产业链高景气有望延续。当前支持创新药产业发展已成为政策导向，2025年北京、上海、重庆、四川等多地出台相关政策，推动创新药行业高质量发展。近日，2026年医保药品目录和商保药品目录发布，首次在基本医保目录之外增设商保创新药目录...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224211713a6ca8bf6&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>国内商保发展和集采优化 创新药产业链持续活跃</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n国内商保发展和集采优化 创新药产业链持续活跃\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-24 21:11 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224211713a6ca8bf6&s=b><strong>金证研</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2025年，创新药BD井喷，出海打开市场空间，成为医药行情的主旋律。在政策对真创新、高水平创新的支持下，大量创新药BD仍等待2026年落地。随着国内商保发展和集采优化，创新药产业链高景气有望延续。当前支持创新药产业发展已成为政策导向，2025年北京、上海、重庆、四川等多地出台相关政策，推动创新药行业高质量发展。近日，2026年医保药品目录和商保药品目录发布，首次在基本医保目录之外增设商保创新药目录...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224211713a6ca8bf6&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1161","symbol_name":"生物科技","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224211713a6ca8bf6&s=b","article_id":"2593477930","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224211713a6ca8bf6&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2593477930","pubTimestamp":1766581900,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"随着国内商保发展和集采优化，创新药产业链高景气有望延续。当前支持创新药产业发展已成为政策导向，2025年北京、上海、重庆、四川等多地出台相关政策，推动创新药行业高质量发展。近日，2026年医保药品目录和商保药品目录发布，首次在基本医保目录之外增设商保创新药目录。创新药长期产业趋势确定，在国内政策支持以及美联储进入降息周期的背景下，全球创新药研发持续活跃，2026年还有大量BD落地。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"BK1161":"生物科技","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","LU1720050803.USD":"安联全方位中国股票基金","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","01801":"信达生物","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","01276":"恒瑞医药","BK1574":"生物医药B类股","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","ONC":"百济神州","06978":"永泰生物-B","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","09926":"康方生物","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","01877":"君实生物","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC"},"translate_title":"Domestic commercial insurance development and centralized procurement optimization innovative drug industry chain continues to be active","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ONC":0.9,"01801":0.9,"01276":0.9,"09926":0.9,"06978":1.5,"01877":0.9},"content_text":"2025年，创新药BD井喷，出海打开市场空间，成为医药行情的主旋律。在政策对真创新、高水平创新的支持下，大量创新药BD仍等待2026年落地。随着国内商保发展和集采优化，创新药产业链高景气有望延续。当前支持创新药产业发展已成为政策导向，2025年北京、上海、重庆、四川等多地出台相关政策，推动创新药行业高质量发展。近日，2026年医保药品目录和商保药品目录发布，首次在基本医保目录之外增设商保创新药目录。目录新增114种药品,其中50种为一类创新药,19种纳入首版商保创新药目录。随着国内创新药品种加速落地，放量节奏有望提速。同时商保体系建设也进入长期化、制度化阶段，高价值创新药有望迎来第二增长曲线。创新药是产品创造需求的行业，板块每一轮行情也伴随着新靶点、新机制、新技术的爆发。在当前国内创新药企业快速工程化创新的推动下，多个疾病领域都诞生了新的治疗方法。我国在抗体偶联药物、双靶向抗体等创新药领域技术全球领先，不断涌现新的机会。创新药长期产业趋势确定，在国内政策支持以及美联储进入降息周期的背景下，全球创新药研发持续活跃，2026年还有大量BD落地。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593477930","isCrawlerRequest":true}

国内商保发展和集采优化 创新药产业链持续活跃

精彩评论

国内商保发展和集采优化创新药产业链持续活跃