Key Points
- On‑site negotiation (Nov 2, 2025): A representative from Heyuan Shengwu (He Yuan Shengwu 合源生物) said “We’ve reached a deal,” and five CAR‑T drugs represented by Na Ji Ao Lun Sai 纳基奥仑赛 — approved in 2023 — have passed review for inclusion in the commercial‑insurance innovative‑drug catalogue.
- Access implications: If commercial insurers include CAR‑T, employer and private plans could expand patient access and lower out‑of‑pocket costs even before NHSA (国家医疗保障局) national reimbursement arrives.
- Pricing and market impact: Negotiated commercial prices could serve as pricing benchmarks, provide earlier revenue for manufacturers, and influence later NHSA negotiations.
- Watch points: Key items to monitor are the NHSA’s formal announcement, the exact price levels agreed with commercial insurers, and whether those prices become a reference in future national reimbursement talks.
CAR‑T therapies may be on the verge of a commercial‑insurance breakthrough after an on‑site negotiation update on November 2, 2025.
Around 15:00 on November 2, 2025, at the on‑site negotiations for the national medical‑insurance catalogue and the commercial‑insurance innovative‑drug catalogue, a negotiation representative from Heyuan Shengwu (He Yuan Shengwu 合源生物) left the session visibly pleased and told a Cailian Press (Cailian 财联社) reporter, “We’ve reached a deal.”
The final outcome will still depend on an official announcement from the National Healthcare Security Administration (NHSA, Guojia Yiliao Baozhang Ju 国家医疗保障局).
What happened
The statement suggests that CAR‑T therapies — long labeled “sky‑high” in price — may achieve a breakthrough in this year’s commercial‑insurance innovative‑drug price negotiations.
Among the products mentioned is the Na Ji Ao Lun Sai injection (Na Ji Ao Lun Sai 纳基奥仑赛注射液) developed by Heyuan Shengwu (He Yuan Shengwu 合源生物).
That product was approved for marketing in 2023, and this year five CAR‑T drugs represented by it have passed review for inclusion in the commercial‑insurance innovative‑drug catalogue.
Because CAR‑T therapies have historically carried very high prices, they have not met the threshold to enter national medical‑insurance negotiations over the past four years.
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Why this matters
If commercial insurers reach price agreements that include CAR‑T therapies, more patients could gain access through employer and private insurance plans even if state reimbursement is not yet in place.
For manufacturers, successful commercial‑insurance negotiations can provide an earlier revenue pathway while preserving incentives for further innovation.
For patients and providers, negotiated commercial prices could lower financial barriers, expand treatment access, and alter real‑world uptake of CAR‑T therapies.
Key takeaways for different stakeholders
- Patients and families. Negotiated commercial coverage could reduce out‑of‑pocket costs and increase treatment choices while national reimbursement lags.
- Manufacturers. A commercial‑insurance pathway can unlock earlier commercialization revenue and offer a pricing reference that may influence later NHSA talks.
- Insurers. Commercial insurers gain negotiating leverage for expensive innovative drugs and can expand product offerings for employer and private plans.
- Investors and founders. A positive commercial‑insurance outcome signals a commercialization strategy pathway for innovative oncology therapies in China.
What to watch next
Key items to monitor are:
- (1) the NHSA’s formal announcement confirming any negotiated inclusions or price terms.
- (2) the exact price levels agreed with commercial insurers.
- (3) whether commercial‑insurance pricing becomes a reference point in future national reimbursement negotiations.
Those details will determine how broadly accessible CAR‑T therapies become and how much patients will pay out of pocket.
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Context and practical implications
Context: CAR‑T treatments are biologic, one‑time or limited‑dose therapies that historically command very high price tags, which has kept them out of national medical‑insurance negotiations in recent years.
Practical implications:
- Access. Commercial inclusion can expand access quickly through employer and private plans before NHSA reimbursement arrives.
- Pricing benchmarks. Agreed commercial prices may become data points in future NHSA talks or in negotiations with other insurers.
- Market dynamics. Wider commercial coverage could accelerate real‑world adoption and generate utilization data that supports regulatory and payer discussions.
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How investors and founders should think about this
Strategic angle. Commercial‑insurance deals can validate a pricing strategy and provide earlier cash flow for R&D and scale‑up.
Due diligence. Watch for the NHSA announcement, the actual pricing terms, and whether negotiated prices apply broadly or only under certain commercial plans.
Competitive implications. If Heyuan Shengwu (He Yuan Shengwu 合源生物) or peer companies secure favorable commercial terms, it can reshape competitive positioning for CAR‑T innovators in China.
Bottom line
This development could be the first meaningful route to broader access for expensive CAR‑T therapies in China, even before national reimbursement arrives.
Watch the NHSA announcement and the commercial price points closely to see whether this turns into a durable access pathway for patients and a scalable commercial model for manufacturers of CAR‑T therapies.
