On December 7, 2025, the National Healthcare Security Administration (NHSA) and the Ministry of Human Resources and Social Security released the updated versions of the National Reimbursement Drug List for Basic Medical Insurance, Maternity Insurance, and Work-Related Injury Insurance along with the Commercial Health Insurance Innovative Drug List (2025).
This marks the eighth adjustment to the NRDL since the establishment of the NHSA. The new list will be officially implemented nationwide on January 1 of the coming year. A total of 114 new drugs were successfully added, of which 50 are Class 1 innovative drugs. The overall success rate reached 88%, a notable increase from 76% in 2024.
Furthermore, this NRDL adjustment marks the first simultaneous launch of a Commercial Health Insurance Innovative Drug List, establishing a dual-track system where basic medical insurance and commercial health insurance work together to provide coverage for innovative drugs. This will greatly benefit the future development and growth of China's domestically developed innovative pharmaceutical industry, further improve the accessibility of Class 1 innovative drugs, and benefit a greater number of patients.
The inaugural Commercial Health Insurance Innovative Drug List focuses on including drugs with a high degree of innovation, significant clinical value, substantial patient benefits, and those that exceed the scope of basic medical insurance coverage. It is intended as a reference for multi-layered medical security systems such as commercial health insurance and medical mutual aid. A total of 19 drugs are included this time, covering not only oncology treatments like CAR-T therapies, but also treatments for rare diseases such as neuroblastoma and Gaucher disease, as well as drugs for Alzheimer's disease, which has garnered significant public attention.
This time, Efung Capital portfolio companies—Xuanzhu Biopharma (Piroxilipian Tablets), Trinomab (Sitaitudan Monoclonal Antibody Injection), Xunlu Bio (Equecabtagene Autoleucel), Zhongsheng Ruichuang (Ang Labiwei Tablets), and Changtai Pharma (Olanzapine Fluoxetine Capsules) —have been selected.
Looking ahead, Efung Capital will continue to focus on life sciences enterprises driven by breakthrough technologies and clinical value, deepening its efforts in the fields of new drug R&D, biotechnology, and high-end medical products. Together, we will promote the high-quality development of China's pharmaceutical industry and contribute the power of capital-industry synergy to the construction of a Healthy China.