By Fineline Cube 
The National Healthcare Security Administration (NHSA) wrapped up a week‑long series of negotiations and bidding sessions that will reshape China’s drug reimbursement landscape for 2026. From 30 Oct to 3 Nov, the agency hosted the 2025 National Basic Medical Insurance (BM) Drug Catalogue Negotiation and Bidding alongside the Commercial Insurance Innovative Drug List Price Negotiation.
Participation Snapshot
| Category | Number of Enterprises | Number of Drugs Involved |
|---|---|---|
| Basic Medical Insurance (BM) Catalogue | 120 domestic & foreign firms | 127 drugs (outside the existing catalogue) |
| Commercial Insurance Innovative Drug List | Subset of the 120 participants | 24 drugs (first‑edition innovative list) |
A total of 120 pharmaceutical companies—both Chinese and multinational—submitted pricing proposals, reflecting the broad scope of China’s push to contain drug costs while expanding patient access to innovative therapies.
Timeline & Implementation
- Early December 2025 – Simultaneous online and offline launch of the new Basic Medical Insurance Drug List and the first edition of the Commercial Insurance Innovative Drug Catalogue in Guangzhou.
- 1 Jan 2026 – Official nationwide implementation. All listed medicines will become reimbursable under the respective insurance schemes on this date.
Strategic Implications
- Cost Containment – The negotiations are expected to lower average drug prices by 5‑10 % across the 151 newly listed products, according to internal NHSA estimates.
- Innovation Incentives – Inclusion of 24 innovative drugs in the commercial‑insurance list signals a calibrated approach that rewards high‑value therapies while keeping public‑sector spending in check.
- Market Access – Companies that secure placement will gain immediate access to China’s ~ 1.4 billion‑person insurance pool, translating into a potential revenue uplift of US$1‑2 billion per product over the next three years.
Next Steps for Stakeholders
- Pharma Companies – Prepare post‑negotiation compliance dossiers (price monitoring, pharmacovigilance, supply‑chain assurance) before the 1 Jan 2026 rollout.
- Investors – Re‑price exposure to Chinese pharma equities, especially firms with a strong pipeline of the 24 innovative drugs now eligible for commercial‑insurance reimbursement.
- Healthcare Providers – Update formulary and prescribing systems to reflect the new catalogue entries ahead of the January implementation date.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding the impact of the NHSA negotiations, cost‑saving estimates, and market‑access expectations. Actual results may differ due to regulatory actions, pricing adjustments, and market dynamics.-Fineline Info & Tech