医保谈判对生物医药企业创新投入的影响研究

Research on the impact of medical insurance negotiation on innovation investment of biopharmaceutical enterprises

摘要:

国家医保谈判对生物医药企业的创新产生了重要影响。以2014－2022年中国生物医药A股上市公司的数据为样本，通过国泰安数据库获取相关数据，探讨医保谈判政策的实施对生物医药企业创新投入的影响。研究结果表明：医保谈判政策的实施显著增加了生物医药企业的创新投入。机制检验表明，国家医保谈判政策通过降低药企营销方面的投入，将更多资源投入药品创新研发，提升企业竞争力。异质性分析发现，在非国有企业以及知识产权保护力度较强的地区的生物医药企业中，医保谈判政策对企业创新投入增加的推动作用更为显著。据此，建议将更多地满足人民群众医疗新需求、临床效果优秀、重要性强的药品纳入国家医保谈判范围；针对生物医药企业的行业、地域、发展程度异质性，制定差异化的国家医保谈判政策。

Abstract:

Biological drugs are the main type of medication in national health insurance negotiations. National health insurance negotiations have had a significant impact on the innovation of biopharmaceutical companies. This paper takes China's biomedical A-share listed companies from 2014 to 2022 as a sample, and obtains relevant data through Guotaian database, to investigate the impact of the implementation of the medical insurance negotiation system on the innovation investment of biomedical enterprises. The results show that the implementation of the medical insurance negotiation system has significantly increased the innovation investment of biopharmaceutical enterprises. The mechanism test shows that the medical insurance negotiation policy promotes the increase of innovation investment of biopharmaceutical enterprises through two channels: "guidance effect" and "compensation effect". Further analysis shows that among non-state-owned enterprises and biomedical enterprises with strong intellectual property protection in their regions, the medical insurance negotiation policy has a more significant role in promoting the increase of enterprise innovation investment. Accordingly, it suggests including more medicines that meet the new healthcare needs of the public, have excellent clinical outcomes, and are of significant importance within the scope of national medical insurance negotiations; it also recommends formulating differentiated national medical insurance negotiation policies based on the heterogeneity of the pharmaceutical industry, regions, and levels of development.