October is a month
of frequent personnel changes in pharmaceutical companies.
Wang Jie, vice president of Yifan Pharmaceutical, and Lin Qing, vice president of Meinian Health, have resigned one after another, both with terms of less than one year, and the deputy general manager of Hengrui Pharmaceutical announced his resignation on the same day that he "changed generals", and recently, another CEO of a pharmaceutical company joined the "resignation army"
.
On October 21, Ridge Pharma announced that Mr.
Hua Fengmao applied to resign as a director, chief executive officer (CEO), special committee of the board of directors and subsidiaries of the company due to personal reasons
.
Mr.
Hua Fengmao's original term as a Director will expire on the expiry date of the fifth term of the Board of Directors of the Company, and his original term as Chief Executive Officer (CEO) will be from July 8, 2021 to July 8, 2024
.
After his resignation, Mr.
Hua Fengmao ceased to hold any position
in the Company and its subsidiaries.
According to public information, Mr.
Hua Fengmao is one of the founders of Viva Biotechnology Holding Group, who was appointed as the executive director and chief financial officer of Viva Biotechnology Holding Group on July 3, 2018, and concurrently served as the chairman of Zhejiang Langhua Pharmaceutical Co.
, Ltd
.
, joined Insight as CEO in July 2021, and served as a director and CEO of the company since August of the same year, with a gap of more than one year from appointment to departure.
In addition to his extensive experience in the pharmaceutical industry, Mr
.
Hua Fengmao also has a wonderful resume in the investment banking industry.
He has worked in various investment banks, mainly responsible for corporate finance, public offerings, restructuring, mergers and acquisitions and other financial advisory work
.
He has served as Manager of Bank of America Asia Investment Banking Department, Manager of Industrial and Commercial East Asia Capital Limited, General Manager of Corporate Finance Department of Capital Castle Asia Limited, Managing Director of Investment Banking of CLSA Limited, Head of Direct Investment Department and Head of Investment Banking Department of
BOCOM International Holdings Limited.
According to the data, Ridge Pharma is a one-stop pharmaceutical R&D and production outsourcing service for biological drugs and chemical drugs, as well as a provider
of microecological nutrition preparation development and microecological health management solutions.
Previously, Ridge's main business included pharmaceutical R&D and manufacturing outsourcing services (CRO/CDMO) and prebiotic business
.
On March 31 this year, Ridge Pharma announced that in order to focus on the main business, the company intends to transfer 100% of the equity of Quantum Hi-Tech to Taylor & Lyle for US$237 million, and after the completion of this transaction, Ridge Pharma will completely divest the prebiotic business and form a business
focusing on pharmaceutical R&D and manufacturing outsourcing services (CRO/CDMO).
Behind the company's divestiture of the prebiotic business to focus on CRO/CDMO is optimistic about the current opportunities
in the CXO industry.
In recent years, the global CXO industry revenue has been growing rapidly
.
According to Frost & Sullivan, global CRO services revenue grew from $44.
3 billion to $67.
2 billion between 2015 and 2020, at a compound annual growth rate of 8.
7%.
The revenue of the global CDMO market is growing at a compound annual growth rate of 12.
5%
from 2016 to 2021.
Industrial Securities has pointed out that based on the current strong order demand and the trend of rapid expansion of production capacity, CXO is still a track
with high performance certainty and strong growth in the pharmaceutical sector.
In terms of segmentation, CDMO's performance growth in 2022 is relatively more elastic, while CRO continues the rapid growth trend of the past, and the bright performance of the sector is expected to become an important catalyst for
stock prices.
According to the 2022 half-year report of Ridge Pharmaceutical, the company's operating income in the first half of this year was about 687 million yuan, a year-on-year decrease of 18.
75%; The net profit attributable to shareholders of listed companies was about 957 million yuan, a year-on-year increase of 18518.
34%; Basic earnings per share were 1.
92 yuan, a year-on-year increase of 18,540.
78%.
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