Since the beginning of this year, a large number of biotechnology companies are actively adjusting asset projects and R&D pipelines to promote the company's cost reduction and efficiency increase, as well as return to the "essence"
.
For example, Harbour Biopharma announced on November 15 that its wholly-owned subsidiary entered into an asset transfer agreement with WuXi Haide to sell the production plant
of the "Biomacromolecule R&D Innovation Center Project" for RMB 146 million.
The project is located in Suzhou Industrial Park, with a production plant area of about 8,500 square meters and a design and production scale of up to 4,000 liters, which was originally scheduled to be put into production
before the end of 2022.
According to the announcement, the total net book value of the target assets is about 167 million yuan, and the sale will cause the company to lose about 61.
93 million yuan
.
On the same day, Harbour Biopharma announced that it intends to sell WuXi Hyde, a subsidiary of Biologics Biologics Holdings, for RMB146 million, including machinery and equipment, various vehicles, tools and instruments, furniture, communication facilities and equipment, and fixtures in the leased premises (including equipment and facilities installed by the seller).
On November 14, CStone announced the suspension of
production at its Suzhou production base.
In this regard, CStone Pharmaceuticals said that this measure is to reduce the operating costs of the company, based on full research and discussion, after careful consideration and decision
by the company.
.
.
.
.
.
.
It is worth noting that since the beginning of this year, in addition to pipeline termination of research and development, layoffs, and the sale of production plants, investment and financing have also declined
sharply.
According to statistics, in the first half of 2022, the number of investment and financing events in the primary market in the medical and health field decreased by 46.
7% year-on-year, and the number of IPO events decreased by 45.
5% year-on-year.
The number of secondary market refinancing events decreased by 57.
8%
year-on-year.
Admittedly, these actions are not pleasant, especially for those who have been accustomed to the continuous expansion of the domestic biomedical industry in the past two years
.
But there should be some deeper understanding
of the industry logic behind these actions.
For example, there are indeed many companies laying off employees, but isn't it true that there are too many companies that take advantage of the valuation bubble to expand too fast and redundant employees? There are indeed production plants for sale, but shouldn't the core advantages and resource investment direction of Biotech be disease mechanism research and variety development?
The industry believes that with the rapid advancement of policies such as the reform of the medical and health system, the optimization of review and approval to encourage innovation, and the drug marketing authorization system, the competition pattern of the industry is undergoing major changes, so those over-expanding pipelines, personnel and plants themselves need to be
adjusted.
Especially in the past when the valuation of the entire biopharmaceutical industry was high, it is normal
for pharmaceutical companies to enter the adjustment period.
For biotechnology companies, it is very important that their characteristics can be adjusted in a timely manner according to changes in the company's strategy, so it is more important for enterprises to focus on the advantageous areas and clinical assets with real technical barriers, and only such products and services can be recognized by capital and invested
.
In this context, the industry expects that pharmaceutical companies will continue to sell products, sell technology, sell factories and real estate, as well as stop production and adjust R&D
pipelines.
Through these positive adjustments, biotech companies will accelerate their return to their biotech company essence
.
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