Innovent Biologics co-founder, CEO and president Michael Yu celebrated the listing of the company in Hong Kong. (Photo/VCG)

Nov. 29 (NBD) -- The talks for China's medical insurance catalog came to an end on Thursday, with a total of 70 new drugs to be added.

National Business Daily (NBD) noticed that Hong Kong-listed pharmaceutical company Innovent Biologics (Innovent, 1801.HK) has its PD-1 cancer treatment Tyvyt (or Sintilimab Injection) included, slashing the price by 63.73 percent from 7,838 yuan to 2,843 yuan for a vial of 10ml.

According to media reports, besides Innovent, three other PD-1 drug producers - Bristol-Myers Squibb (NYSE: BMY), Merck & Co (NYSE: MRK) and Shanghai Junshi Biosciences (1877.HK) - were present at the talks but didn't reveal any negotiation detail.

However, Innovent's Tyvyt is the only PD-1 inhibitor that has been included in the country's new reimbursement drug list. PD-1 is a category of drugs that works on the immune system to fight cancer cells.

In response to the price cut, Innovent said to NBD that the company had shown the greatest sincerity in the negotiations.

Email: lansuying@nbd.com.cn