Innovative medicine: the investment gold mine in the eyes of investment institutions in the next decade

Pharmaceutical Network Market AnalysisChina's drug market is still dominated by generic drugsMinet data show that in 2019 China's drug terminal market size reached nearly 180 million yuanAmong them, the proportion of generic drugs is about 95%, the proportion of innovative drugs is less than 5%In the United States, Japan, Europe and other developed countries and regions, its innovative drug sales accounted for more than 70%, or even reached nearly 90% of the levelChina's innovation drug market space is huge, "two-vote system", "band procurement", "priority review and approval system", "generic drug quality and efficacy consistency evaluation" and other policies frequent, to encourage pharmaceutical innovation and research and development, coupled with the domestic continued growth of the pharmaceutical market and the growing demand for the strong demand, the future may bring thousands to trillion levels of incremental marketIn the eyes of investment agencies, innovative drugs are widely seen as a gold mine for investment in the next decade, the industry saidthe core of investment in innovative drugs is to distinguish its clinical valueThe industry believes that with the reform of the payment method of health insurance, DRGs and other new payment methods, clinical value is the cornerstone of the commercial value of innovative drugs in the future, clinically profitable drugs will have more room for price negotiation, and clinical value less prominent drugs will face a fierce price warIn the future, innovative drugs will return to the nature of patient needsApril 29, the State Medical Insurance Administration publicly solicited opinions on the Interim Measures for the Administration of Drug Use for Basic Medical Insurance (Draft for Comments)The use of medical insurance drug management level, drug cost control is more reasonable, the use of medical insurance fund will pay more attention to efficiency, adapt to the progress of clinical technology, from "only can not be" to upgrade to "in and out" dynamic adjustment, and pay more attention to the role of drug economics, clinical drug use to produce a rational source of guidance, high clinical value, reasonable pricing, high profits of pharmaceutical economics innovative pharmaceutical enterprises will be sustained goodindustry believes that the release of the consultation will be beneficial to high clinical value of innovative drugsRecommendSUChina, Fosun, China Biopharmaceuticals (H), Kanghong Pharmaceuticals, and focus on Beida Pharmaceuticals, Fuhong Hanjun (H), Cinda Bio (H) and so on, "research and development of a brother" Hengrui invested in innovation early, strong, its research and development investment net worth, investment in the proportion of sales are far more than the peer averageIn terms of research and development investment, Hengrui's research and development investment in 2019 was RMB3.896 billion, an increase of 45.90% over the previous year, and the proportion of research and development investment in sales revenue reached 16.73% high research and development investment for Hengrui has brought the harvest, the company has gradually entered the harvest period By the end of 2019, the company already has six innovative drugs on the market, such as Aurecybu tablets, methiosultinib tablets, thiopensfgedin injections, Malayapyrinib tablets, calylbezumab and injection toluene remaonelen In addition, the number of other innovative drugs in research reached more than 30, many are in the second phase, the third phase of clinical, Hengrui Pharmaceutical's innovative pharmaceutical output has formed a listed batch, clinical batch, the development of a batch of virtuous cycle benefit from this virtuous cycle model, Hengrui Pharmaceutical's performance is bright, the company's growth has been well above the industry average for many years, it said in its annual report, the gradual harvest of innovation results has played a driving role in the company's performance growth At the same time, with the restructuring of the company's products, the company's non-anti-tumor products, represented by surgical anesthesia and contrast agents, gradually expand the market in their respective therapeutic fields, and continue to maintain a rapid growth trend Fosun Pharma's 2019 Corporate Social Responsibility Report, released on March 30, said high-quality copying and clinically demand-oriented high-value innovation are the directions of Fosun Pharma's efforts continueto investment in innovation and research and development, but also Fosun Pharma in the direction of adherence For the whole of 2019, the company invested 3,463 million yuan in research and development, up 38.15 percent year-on-year, focusing on investment in small molecule innovation drugs, monoclonal antibody bio-innovative drugs and biosimilar drugs, cell drugs, and so on, some achievements are gradually presented , in the field of anti-tumor, in 2019, Fosun Pharma was listed as China's first biosimilar drug Hanlikang for treatment of non-Hodgkin's lymphoma; In addition, Fosun Pharma through independent research and development, licensing and other models, in the field of oncology, ophthalmology, respiratory system, blood system and other fields have a number of rare diseases in the study of drugs.