On the final day of the 2026 national medical insurance price negotiations: 11 companies participate in discussions on the commercial insurance formulary, with high-cost CAR-T therapies remaining a focal point.

① According to disclosures from authoritative authorities, as of the end of March this year, there were 3,012 instances of medication use by insured individuals nationwide for the 19 drugs included in the first edition of the commercial insurance formulary. The total drug cost amounted to RMB 65.9702 million, with an average cost per instance of RMB 21,902.44; ② In commercial insurance negotiations, it is essential to balance the high R&D investments required for innovative drugs, the baseline requirement for the sustainable operation of commercial insurance funds, and the urgent demand from numerous patients for cutting-edge therapies.

cls.cnSep 9 19:42

Conclusion of the Multi-Day 2026 National Reimbursement Drug List (NRDL) Negotiations: Pre-negotiation Calibration Aligns Bargaining Logic, Innovative Drugs Enter a New Cycle of "Dual-List" Inclusion

① The five-day NRDL negotiations have concluded. Whether the integration of the basic medical insurance and commercial insurance "dual lists" and the reform of the payment system for innovative drugs will yield results remains to be seen; ② Mechanisms such as pre-negotiation communications, reference drug selection, and pre-submission have been implemented upfront, shifting corporate strategy from on-the-spot bargaining to early anchoring, thereby clarifying negotiation expectations; ③ Major new drugs across multiple sectors, ranging from CAR-T therapies and bispecific antibody-drug conjugates (ADCs) to "-tinib" class novel agents, are being pursued by listed innovative pharmaceutical companies in the NRDL negotiations.

cls.cnSep 9 16:01

DeepSeek accelerates its IPO on the STAR Market, with CITIC Securities likely serving as the sponsoring institution.

Industry insiders in the capital markets analyzed to Tencent Technology that, based on DeepSeek's current valuation of RMB 500 billion, the company's overall market capitalization is expected to range between RMB 1.5 trillion and RMB 2.5 trillion after its listing.

Tencent TechnologySep 9 15:48

Xiao K Morning Brief | DeepSeek Significantly Cuts Pricing for Flash Series Models; Qualcomm and Amazon Plan to Jointly Build AI Data Centers

① Day 5 of the 2026 National Reimbursement Drug List (NRDL) negotiations: Multiple pharmaceutical companies introduced blockbuster drugs, including radiopharmaceuticals and new CAR-T therapies; ② Corning signs a multi-billion dollar fiber optic supply agreement with Verizon; ③ Industry insiders: Tight supply and demand for mature-node chips may persist until 2028.

cls.cnSep 9 08:44

Day 4 of the 2026 National Reimbursement Drug List (NRDL) Negotiations: Approximately 20 Companies Enter in Half a Day; A Batch of Traditional Chinese Medicine Preparations Subject to Non-Exclusive Bidding

① Another notable detail is that, unlike previous days when corporate representatives began gathering at the venue around 12:30 PM, no representatives from pharmaceutical companies appeared by 1:30 PM. ② The 2026 non-exclusive bidding rules further extend the regulatory chain to include quantitative early warnings for listed prices, building upon the mechanisms for catalog inclusion and payment standard formation, thereby achieving coordinated constraints with payment management.

cls.cnSep 8 20:00

Day 3 of the 2026 National Reimbursement Drug List (NRDL) negotiations: Intensive talks on new "-tinib" drugs as star companies such as BeiGene and Kelun Biotech take the stage.

1) Intensive negotiations for new "-tinib" class drugs took place in the morning, with innovative pharmaceutical companies such as InnoCare Pharma, Shouyao Holdings, and Jiangsu Wellshine making successive appearances; 2) In the afternoon session, leading pharmaceutical firms including Kelun Biotech and BeiGene were featured, engaging in a two-pronged strategic dynamic in the ADC sector characterized by "expansion within the catalog" and "new additions outside the catalog."

cls.cnSep 7 16:20