The best transcript of the pharmaceutical industry in the past 9 years |

Pharmaceutical Network August 30th Interim results report disclosure came to an end, most of the 287 companies in the medical industry have disclosed the interim report. As of August 29 (the following quoted data are as of August 29), from the disclosed 243 companies According to the data of the mid-year report, the medical industry is the best period since 2010. The total operating income and net profit increased to 21.25% and 24.74% respectively in the '2' era, and the net profit growth rate exceeded the income growth rate, indicating profit growth. better.

According to the data from the mid-year report, 90 companies have a net profit growth rate of more than 30%, accounting for 37% of the disclosed companies. If you look at the quality of growth, you can see from the data of simultaneous growth in income and net profit, Kang Tai Bio, Zhifei Biotech, Jinshi Dongfang and Guonong Science and Technology all achieved double growth. Among them, Kangtai Bio realized income of 1.064 billion yuan, up 126.65% year-on-year; net profit was 286 million yuan, up 327.71% year-on-year; Zhifei Biological realized income of 2.072 billion yuan , an increase of 365%; net profit of 682 million yuan, an increase of 306.92%.

Zhifei biological growth is not only at the forefront of speed, but also the net profit amount is in the forefront of the industry. The company is China's vaccine core enterprise. In the first half of this year, heavyweight varieties continued to increase, which greatly increased the company's performance elasticity. AC-Hib triple vaccine combined with independent products. The income is 560 million yuan, contributing a profit of 250 million yuan; proxy Merck's four-price HPV vaccine was issued in the first half of the year with 2.62 million batches, and it is expected to sell 1.8 million in the report period. Among the five vaccine varieties of the company, from January to mid-August, the four-valent HPV and the nine-priced HPV vaccine were respectively A total of 3.43 million issued, 106,000, the supply increased rapidly; the five-valent rotavirus vaccine has also been won in various places, will officially start sales in the fourth quarter.

Haipu Rui, Boji Medicine, Mei Nian Health, Furen Pharmaceutical, Zhejiang Pharmaceutical, Lukang Medicine, Shengjitang, Xinhecheng and other 80 companies have higher net profit growth than income growth. Among them, Haipu Rui realized income 2.004 billion yuan, a year-on-year increase of 90.88%; net profit of 219 million yuan, an increase of 5602%; Furen Pharmaceutical achieved a revenue of 3.109 billion yuan, an increase of 14.40%; net profit of 451 million yuan, an increase of 4508%.

However, some pharmaceutical companies have experienced negative growth in their mid-term reports. The revenues and net profits of 30 companies including Guoxin Health, Hite Bio, Jianmin Group, Shapu Aisi, and Rhein Bio are negative growth. Among them, Guoxin Health Income and Net Profit respectively Negative growth was 72.53%, 25.88%; Hite's biological income and net profit increased by 30.89% and 59.24% respectively; the highest net negative growth rate was Haizheng Pharmaceutical, which was negative 8533.34%. However, negative growth companies accounted for more than 10% of the medical industry. One point does not affect the steady growth of the industry as a whole.

Among the top 20 companies that made the most profit in the first half of this year, the net profit was at least 640 million yuan. The most profitable Baiyunshan achieved a net profit of 2.619 billion yuan; secondly, Xinhecheng net profit was 2.059 billion yuan; Rui Pharmaceutical's net profit was 1.910 billion yuan; the fourth Yunnan Baiyao net profit was 1.633 billion yuan; the fifth Fosun Pharma's net profit was 1.56 billion yuan.

Baiyunshan re-measured 50% of the original GP Medicine's equity at fair value to generate 830 million yuan of investment income, and the fair value of 7.4% equity of Yixintang held by the company increased by 260 million yuan, and the actual net profit after deduction was 1.54 billion yuan. yuan.

Xinhecheng's revenue and profit mainly rose in the first quarter, and the second quarter saw a decline. Due to the decline. At present, the price of vitamin A tends to be stable, and the sales volume gradually returns to normal.

The most profitable company after deduction is not Hengrui Medicine. In the first half of 2018, the company achieved operating income of 7.761 billion yuan, up 22.32% year-on-year; realized non-net profit of 1.828 billion yuan, up 18.10% year-on-year. The core variety of apatinib has been effective in “price-for-value” since it was included in the national medical insurance. Sales increased by 64% year-on-year; iodixanol continued to drive the contrast plate to maintain rapid growth; in the anesthesia sector, dexmedetomidine, Atracurium and other countries also maintained steady growth. The company invested a total of 995 million yuan in research and development in the first half of the year, an increase of 27.26% over the same period of the previous year, and R&D investment accounted for 12.82% of sales revenue.

In terms of R&D pipelines, Hengrui Pharmaceutical's heavy-duty thiophene statin (19K) was approved for listing in the first half of the year. As the first long-acting G-CSF preparation in China to achieve superior results, it is expected that the peak sales in the future is expected to exceed 1 billion. Yuan. According to the State Food and Drug Administration, another heavyweight of the company, pyrrolidine, has been reviewed and is expected to be approved soon. As a potential best-in-class variety, it is expected to be superior to similar lapatinib. It is also a heavy variety. In addition, the company's multiple injections in the consistency evaluation.

In the first half of 2018, Fosun Pharma achieved operating income of 11.859 billion yuan, a year-on-year increase of 41.97%; net profit of 1.2 billion yuan, a negative growth of 5.32%. At present, Fosun Pharma has formed an international R&D layout and strong research and development capabilities. China, the United States, India and other places have established an efficient international R & D team to form a global linkage research and development system; and through a diversified cooperation approach, to link the world's cutting-edge innovation technology, promote the global development and transformation of cutting-edge products.

As of June 30, 2018, Fosun Pharma is investigating 240 new drugs, generic drugs, biosimilar drugs and consistency evaluation programs. Rituximab injection (for non-Hodgkin's lymphoma treatment) has been reported New drug listing application and inclusion in the priority review process drug registration application list, is expected to take the lead in achieving a breakthrough in the domestic monoclonal antibody-like similar drug zero. In the field of small molecule innovative drugs, Fosun Pharma's first small molecule chemical innovation drug to achieve China-US double report FN-1501 injection has been clinically tested in the United States and Australia. At the same time, Fosun Pharma has actively promoted the 'consistency evaluation' of generic drugs and continued to improve the 'fake-integration' drug Research and development system.

A welcome change in the first half of this year was that the medical industry increased its R&D investment, with a total of 23 companies accounting for more than 10% of their operating income. Fosun medicine The largest amount of R&D investment reached 1.188 billion yuan, up 89.82% year-on-year; the second-ranked Hengrui Pharmaceutical R&D invested 995 million yuan, accounting for 13% of operating income; Beida Pharmaceutical, Watson Bio, Guangshengtang, Tonghua East Bao, Jiu'an Medical, Pu Li Pharmaceutical R & D investment accounted for more than 21% of revenue. Among them, Beida Pharmaceutical R & D investment accounted for 46% of revenue.

In addition to several major pharmaceutical companies, Tonghua Dongbao is one of the companies with a large proportion of R&D investment in the first half of the year, with a total investment of 380 million yuan, an increase of 30.78%. The company is committed to providing diversified diabetes treatment drugs and continuously promoting the research and development process: The heavy three-generation insulin glargine production review is in the process of supplementing the material, and clinical data will be checked in the near future. In other analogues, insulin aspart is in the stage of completion and stamping, and will be reported as soon as it is completed; In the clinical research phase, the follow-up will be ushered in, the onion 50 clinical research is underway; the insulin detemir and insulin detemir injection are in the preparatory stage of clinical trials; the insulin lispro series has been submitted to the clinical application review stage; The super fast-acting insulin analogue (BC Lispro) and the insulin-based mealtime combination (BC Combo) introduced by Adocia in France are currently undergoing repeated trials of multiple batches of processes and analytical methods, as well as current Chinese Regulation The design of the animal in vivo experiment was carried out, and the research work was actively and orderly advanced. The key variety liraglutide injection was in the stage of clinical application, and the drug glycopeptide plan was submitted to the clinic before the end of the year. The company's research and development in the field of diabetes continued to advance. Advance.

Sales expenses are the key issues of market concern. From the data of the middle newspaper, 48 companies accounted for more than 40% of sales revenue, of which 7 were more than 60%, respectively, Guonong Technology (75.44%) , Longjin Pharmaceutical (73.61%), Lingkang Pharmaceutical (71.98%), Dali Pharmaceutical (67.82%), Ha Sanlian (65.28%), Hai Te Bio (62.23%), Haichen Pharmaceutical (61.18%) .

In companies with high sales costs, proprietary Chinese medicines enterprise Among the companies with high sales expenses accounting for more than 50% of revenue, most of them are such companies, such as Buchang Pharmaceutical, Zhongheng Group, Shanghai Kaibao, Shuangcheng Pharmaceutical, Jichuan Pharmaceutical, etc. Governance may have an impact on the sales of such companies.

However, from the perspective of the industry as a whole, with the growth of pharmaceutical consumption, the increase of R&D investment, the increase of reserve varieties, and the speed of approval and consistency evaluation of new drugs, the medical industry's stamina is worth looking forward to.