The pharmaceutical industry has completely reversed. Firstly, the collection of prices has been relaxed, and the 'anchor point' for calculating the price difference in the eleventh batch of collective procurement is no longer simply based on the lowest bid as a reference. Secondly, there are also changes in national negotiations, and the positioning of the commercial insurance innovative drug catalog may become a buffer platform for high-value innovative drugs, while the payment side provides support for the 'three exclusions'.

Have you noticed that ever since the pharmaceutical market rebounded, good news has come one after another?

First, various innovative drugs are being introduced overseas, then overseas pharmaceutical giants are collaborating with domestic innovative drug companies, and now even collective procurement and national procurement have favorable news. The pharmaceutical industry has made a complete turnaround.

When it was falling, there were various negative factors, and now that it is rising, there are various positive factors. This is how the stock market works; as investors, we just need to wait. $Hengrui Medicine (SH600276) $