This paper reviews the general situation of China’s pharmaceutical industry and pharmaceutical innovative development；it analyzes and summarizes the characteristics and problems of China’s pharmaceutical innovative development. Theoretical analysis of “commercial medical insurance promotes the development of medical innovation” is conducted in the paper from an economic perspective. This paper provides an overview of the development of commercial health insurance and pharmaceutical innovation in the United States and summarizes useful experiences from it. Finally，the problems faced by the development of pharmaceutical innovation in China are analyzed from the perspective of commercial medical insurance development，and countermeasures and suggestions for the long-term development are propossed.