Looking ahead to 2020, what investment opportunities may the pharmaceutical sector focus on?

　　According to statistics, as of the 9th morning close, the Shanghai index rose 0.28% today, with A-share turnover of 37.758 billion shares, with a turnover of 391.291 billion yuan, a decrease of 3.47% over the previous trading day In terms of stocks, 2,190 stocks rose From the Shenwan industry, the pharmaceutical and biological sector rose more, as high as 2.74% Also in the afternoon of April 9, the three major A-share indexes moved higher, the GEM index rose 1.8%, the intraday return to 2000 points On the face of the market, the industry sector generally floated red, pharmaceutical and biological sector growth is still the front
At present, the pharmaceutical biological sector has undoubtedly received wide attention in the industry So far this year, the Pharmaceutical Biology Index (Shenwan) has risen 8.39 per cent, leading the CSI 300 and the Shanghai Composite Index In addition, in the first quarter, the pharmaceutical and biological sector has accumulated a net capital inflow of 16 billion yuan, of which the industry net inflow of 2 billion yuan in March
The industry believes that looking ahead to the full year, the pharmaceutical sector may be able to focus on three major investment opportunities First, pay attention to pharmaceutical first quarter results, layout Q1 performance is better and sustainable company Wind data show that Shenwan 28 first-class industries, the biopharmaceutical industry in the first quarter of the trend against the red, up 7.85 percent Sectors where demand increased include medical devices and drugstore chains
Among them, nucleic acid testing, PCR testing, disinfection control, ventilators and other medical device products in the first quarter of the surge in demand, industry leaders such as Murray and other expected to benefit With the promotion of favorable policies in the medical device industry, domestic medical device import substitution is expected to accelerate, and the relevant enterprises will benefit obviously
As an important TOC sales channel, the chain of pharmacies has gradually become prominent in its important social functions In the first quarter of 2020, various retail pharmacies to eliminate anti-epidemic related drugs achieved a high sales, Q1 quarter performance has a certain pull It is expected that in q1 q1 of 2020, the performance of each chain of pharmacies is expected to achieve high growth, the industry recommended to pay attention to dasan lin, Yifeng pharmacy, the people, one mind In the long run, with the continuous promotion of the collection policy, the end value of retail pharmacies may be further enhanced, and large drugstore chains are expected to continue to lead the industry with its capital advantage, supply chain advantage
Second, focus on the second quarter of domestic demand in the sector of the rapid rebound of the company According to the relevant securities sources estimated that the second quarter of the rebound faster sectors include tumors, surgical industry chain, vaccines and so on Among them, the tumor line growth is strong, is expected to continue to grow at a high rate in 2020, most vaccines are expected to complete preclinical research in April, and the surgical industry chain also has a good anti-ballistic strength The industry believes that if the first quarter performance and other factors appear a correction, the valuation is reasonable, can be actively laid out In addition, in the second quarter, medical services and consumer upgrade spending categories are expected to gradually recover, if the correction, the valuation is reasonable, can also be long-term layout
Third, pay attention to the external demand of new medical infrastructure and epidemic prevention products On the one hand, with the domestic infectious disease hospital, negative pressure ward, fever clinic and other construction demand increased, the relevant industrial chain including equipment and other demand will increase;
But investment also has risks and needs to be cautious Take ventilators as an example, although domestic enterprises are holding a large number of international orders, but in the short term to achieve ventilator capacity expansion is not easy Due to the late start of China's ventilator industry, core technology and key components are still in the hands of foreign manufacturers, the hardware supply chain is fragile, there is still a need to break through key technologies, strengthen the upstream and downstream industrial chain integration.