The pharmaceutical industry | 'Unicorn' | concept fiery | 3 shares or will significantly benefit

Pharmaceutical Network March 6 According to media reports, known as the pharmaceutical industry's 'Huawei', 'the most expensive drug research and development company' Wuxi WuXi PharmaTech Development Co., Ltd. recently disclosed "prospectus" back to 'A' Trip speed.

Recently, the A-share market unicorn concept is hot.Minax is currently China's largest small molecule medicine R & D service enterprise , CRO (pharmaceutical R & D contract outsourcing service providers) industry leader, is a typical 'unicorn' insiders predict that after the listing of WuXi PharmaTech A shares, its valuation will be comparable to the share capital of A-share pharmaceutical stocks Hengrui Medicine (600276). At present, the market value of Hengrui has more than 200 billion yuan.

Kunming Pharmaceutical Group (600422), Sinopharm (002,390) through Changzhou Ping Sheng equity investment fund partnership in Shanghai Jinyao Investment Management Co., Ltd., and Shanghai Jinyao Wuxi Wuming Kant the main sponsor. All Health Pharmaceutical (002317 ) And WuXi PharmaTech have a number of strategic cooperation agreements for drug development.The agency said the three shares and the drug is closely related to Kant or direct benefit.

Company Xuesaitong oral dosage forms have been at the grassroots level hospital with OTC End to promote the study and start Xuesaitong oral habit research, in the primary hospital with Xuesaitong oral dosage form to take the injection is expected to Xuesaitong soft capsules and other oral dosage forms alternative injection significant effect. Medicine, is to replace the quality of the Chinese injection of high-quality varieties, while starting the injection. Companies focused on creating chronic disease management system, strengthen the cardiovascular and cerebrovascular oral dosage forms, new drug R & D set sail again, focus on the layout of special medical services, Cognitive impairment, focusing on anti-dizziness and post-ischemic neuroprotective market, we maintain the 2017-19 EPS estimates of 0.55 / 0.66 / 0.79 yuan, up 7% / 1g% / 20%, corresponding to PE21 / 17 / 14X, maintain 'strongly recommended' rating 'Ping An Securities'

The company is located in Guizhou. In 2016, the province's pharmaceutical circulation reached 22 billion yuan, with a three-year compound growth of 23%. SINBON, as the leading pharmaceutical circulation company in the province (the market share is 14%, ranked first), was granted corporate bond issuance last year. The scale of financing can be expanded. The company has eight holding hospitals, of which three are above grade three hospitals, and the rest are all grade two hospitals. The overall medical resources are excellent. Currently, the company Tumor The third phase of the hospital has entered the stage of installation and commissioning of the equipment. The second phase of Baiyun Hospital has been put into trial operation. At the same time, the profitability of the Cancer Hospital has been gradually improved to enhance its operating management. The multi-factor superposition will increase the company's medical service segment performance. The company's main oral Chinese patent medicine, There are 21 medical insurance catalog categories and 17 basic medicine catalog categories. We estimate that the company's revenue will be RMB 6.03 billion, RMB 7.09 billion and RMB 8.47 billion in 17-19, and the net profit attributable to the mother will be RMB 317 million and RMB 404 million, respectively. Yuan and 483 million yuan, 17-19 net profit to maintain a compound growth of 25%. The current stock price corresponds to three years PE respectively 45X, 36X, 30X. We give the company a valuation of 35-45 times in 2018, maintaining the company's Buy' Rating. 'Soochow Securities'

In January 2018, the company's first Class 1 innovative drug ZSP1601 launched a Phase I clinical trial. The first case was enrolled. The company and WuXi PharmaTech jointly developed 10 Class 1 new drugs. There are currently 3 clinical approvals. It is expected that more varieties will enter the clinical stage in 2018, providing reserves for the company's long-term growth. Based on the company’s long-term development considerations, the company’s major shareholders also increased their holdings of 15.38 million shares through block trades, totaling approximately 194 million yuan, which indicates the company’s future prospects. Confidence. In December 2017, the company’s employee stock ownership plan was also implemented. The total purchase amounted to 11.91 million shares of the company with a total amount of approximately RMB 150 million. It is optimistic about the Company's innovation transformation and ophthalmic platform construction. Maintain BUY rating. Consider short-term costs. Ascending pressure, we adjust our earnings forecast to be 0.52, 0.57, and 0.64 yuan for 2017-2019 EPS, and 20.26, 18.29, and 16.47 times for PE respectively. The company and Drug Mingkang cooperated to form a new drug R&D to promote the company's transition to innovation while actively expanding Integrate into the ophthalmic medical service industry to build a full-scale eye industry platform and maintain a Buy rating.