Differentiation of the pharmaceutical industry | Innovation and growth lead the market

Since March 19, 2017, the pharmaceutical network has clearly differentiated within the pharmaceutical sector. Leading stocks have risen far faster than the pharmaceutical industry index. The logic behind this is very clear. That is, in the context of tight balance of medical insurance, meeting the needs of clinical medical treatment is At present, the urgent need to solve the problem, the curative effect of therapeutic drugs most welcomed by the market.

Can be clearly seen from the medical insurance catalog, therapeutic drug Step by step to the center of the stage, and the use of drugs gradually faded out of the stage. Although the overall growth of Medicare drugs is slow, but the internal structural adjustment is severe, this adjustment has been clearly reflected in the performance of pharmaceutical companies. At the same time, the state is promoting the rational use of drugs It is not blindly encouraging low-price competition. Consistency assessment is proceeding in full swing. In the case of guaranteeing the quality of medicines, it is necessary to maintain a reasonable amount of profitable space for quality medicines.

From an innovation point of view, the drug review system is gradually aligned with the FDA's FDA review system, which encourages the rapid review of drugs with exact drug efficacy and that are urgently needed clinically, and encourages innovative drugs to be brought to market faster. At the same time, the review is more open and transparent. Accelerating the introduction of overseas For drugs that have already been listed, try to shorten the intermediate links of truly innovative drug companies in China so as to ensure that drugs are listed on the premise of effective treatment. In this innovative environment, medicine First line enterprise Both A shares and US stocks have received more recognition.

The previous list of new medical insurance and medical insurance negotiating catalogs will all be phased in by 2018. Bidding With the existence of the cycle, the new round of growth has gradually begun. Both the medical insurance dividend and the innovation bonus are the direction of industrial development. At present, it is a good time to invest in the pharmaceutical industry. After the medical stocks have undergone adjustment for two years, the investment value is gradually increasing. appear.

Judging from past market conditions, the pharmaceutical industry is a stable gathering place for long-term bull stocks. We believe that with the favorable policy environment, more and more pharmaceutical stocks will emerge from the independent market.