Pharmaceutical Network Industry Dynamics: At present, the first quarter 2020 performance report of pharmaceutical listed companies has basically been releasedAccording to GPLP Rhino financial statistics, in the first quarter of 2020, 68 pharmaceutical listed companies, the majority of Chinese medicine enterprises achieved profits, but 58 enterprises net profit fell year-on-yearTherefore, overall, the performance of Chinese medicine enterprises in the first quarter of 2020 is not optimisticIt is worth noting that the first quarter of Yiling Pharmaceuticals revenue, net profit growth rate of more than 50%, the first quarter of the Chinese medicine industry became a big "winner."
In terms of revenue, 68 companies' total revenue reached 72.402 billion yuan, an average of 1.065 billion yuanThere are 52 enterprises with revenues of less than 1 billion yuan, and 15 companies with revenues of less than 100 million yuan, and only 13 companies reported positive year-on-year revenue growth in the first quarter, with the rest declining.
Of the 68 enterprises, only one has revenue of more than 10 billion, and Baiyunshan's first-quarter revenue reached 16.985 billion yuan, down 5.93% year-on-yearYiling Pharmaceuticals achieved revenue of 2.334 billion yuan in the first quarter, up as much as 50.56 percent year-on-year, the first quarter, to Ling Pharmaceuticals' main product Lotus clear plague capsule in the first quarter of the big heatIn addition, Tailon Pharmaceutical's performance growth is also more conspicuous, the first quarter of 2020 revenue of 406 million yuan, up 49.39% YoY, its main products are double yellow even oral solution, clear heat detoxifying oral solution, raw vein drink and so on.
It is worth noting that the situation of "heavy sales, light research and development" is more obvious in some enterprisesIn terms of sales expenses, the total sales expenses of the Chinese medicine industry in the first quarter of 2020 amounted to RMB16,235 million, about 13 times the total research and development expenses, and the industry average was RMB239 millionOf the 68 companies, 31 have sales costs of less than 100 million yuan, and 33 have sales costs ranging from 100 million to 1 billion yuan.
Sales costs of more than 1 billion yuan only four, including Baiyunshan, Step Pharma, China Resources 39, Jichuan PharmaceuticalsAmong them, Baiyunshan's sales expenses in the first quarter were RMB1.549 billion, accounting for 9.12% of operating income;
In addition, the industry average of sales expenses as a percentage of operating income was 29.27%, which was 26.61% higher than the research and development expensesSix of them accountfored with sales expenses above 50 per cent, 53 companies between 10 and 50 per cent and less than 9 per cent.
Longjin Pharmaceuticals, Dali Pharmaceuticals and Yiyi Pharmaceuticals ranked among the top three in the "smash money" sales, with sales expenses of RMB 0.30 billion, RMB027 million and RMB383 million respectively, and sales expenseratio scored 72.75 per cent, 59.12 per cent and 55.80 per cent, respectively The sales costs of Step Pharma and Jichuan Pharmaceuticals were also close behind.
It is understood that the sales expenses of pharmaceutical enterprises, including market, academic promotion fees and consulting fees, staff compensation, channels and publicity fees The industry believes that high sales costs do not necessarily represent the abnormal enterprises, but at present, pharmaceutical enterprises re-sales, light research and development of the abnormal development model is also an indisputable fact According to the 2019 annual report of more than 100 listed pharmaceutical companies, the total sales costs of these pharmaceutical companies amounted to nearly 180 billion yuan, while the total research and development costs amounted to less than 24.5 billion yuan.
Obviously, the abnormal sales revenue has affected the normal development of the pharmaceutical industry, and in the industry, in the mature market, pharmaceutical companies to open up the market completely rely on sales is not feasible, the future is mainly by research and development to open up the market, these heavy sales light research and development companies can withstand the test of the market, time will naturally prove But want the healthy development of the industry, increase research and development efforts is an indispensable process.