Eli Lilly, Pfizer Land on China’s First Private Insurance List

Eli Lilly & Co., Pfizer Inc. and Johnson & Johnson secured spots on China’s first innovative drug catalog, opening a new market channel and boosting sales prospects for costly, cutting-edge treatments.

In all, 19 medicines made the list — a formulary of drugs deemed too expensive for state insurance but recommended for commercial health coverage — officials said in Guangzhou on Sunday. The drugs are for a range of conditions including cancer and Alzheimer’s, as well as rare genetic disorders.

As China’s aging population increases demand for therapies treating everything from cancer and diabetes to dementia, the inclusion of ...