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Author: DiCap Lee O
The 2020 Tokyo Olympics will be held in the summer of 2021, and the 4-year traffic has been stretched to 5 years, which also destined the Tokyo Olympics to become the center of the topic
Olympic Games
Olympic GamesAs the tournament draws to a close, the Chinese team has always remained at the top of the gold medal list, and the number of gold medals should not be a problem
In the author’s memory, most of the Chinese teams in the previous Olympics won the first gold medal, and initially led the gold medal list, but as the event progresses, the US team will always approach and replace the Chinese team’s gold medal list.
Once upon a time, track and field events, a major medalist, were America’s strengths.
But for the Tokyo Olympics, we have Sushen, shot put, javelin, and men and women 4×100 relay to enter the finals.
Takeda
TakedaCoincidentally, recently, MNC has released semi-annual reports.
The mission of pharmaceutical companies is to help the world, but for the head of a pharmaceutical company, increasing revenue is part of the job.
So what enlightenment can Takeda, who has done this, bring us?
Takeda was founded in 1781 and sold herbal medicines for the next 100 years, but after that Takeda went through three key transition periods:
From 1871 to 1970, the modernization was transformed, and Western medicine was sold and produced
In the 1980s and 1990s, it expanded its international business and accelerated the globalization process through the successful listing of a series of blockbuster products in many countries and regions around the world, and entered China in 1994
Starting in the 21st century, globalization has been accelerated, and a series of global acquisitions have been completed, including the United States Millennium and Nycomed, and in 2019, the acquisition of Shire
In 2018, capitalization and listing on the New York Stock Exchange made Takeda the only pharmaceutical company listed on both the Tokyo Stock Exchange and the New York Stock Exchange
In addition to modernization, Takeda’s MNC road is of great reference for Chinese companies.
China's MNC
China's MNCHengrui Medicine
Commercialization capability★★★★★
The pace of globalization★★★
Capitalization process ★★★
When it comes to Hengrui, nearly half of the staff are the sales team that has become the label of the company
Take PD-1 as an example.
According to the NextPharma® database of the medical cube, 102 of Hengrui's 121 pipelines have entered the international clinical and later stages, and the project globalization ratio is 84.
Capitalization is Hengrui's shortcoming.
BeiGene
Capitalization process★★★★★
The pace of globalization★★★★
Commercialization capability★★★
Since BeiGene's quasi-three listings are listed, it is needless to say that since its birth, it has been an international team.
Ou Leiqiang is familiar with capital operations and has made great contributions to the financing expansion of BeiGene.
The highest license out price of PD-1 in the picture above is 100 Ji created
.
According to the NextPharma® database of Medical Rubik's Cube, 49 of Baekje's 52 pipelines have entered the international clinical and later stages, and the proportion of project globalization is as high as 94.
2%
.
However, while the pace of Baekje’s globalization is slightly radical, commercialization capabilities have yet to be tested.
On the one hand, innovative pharmaceutical companies generally focus on R&D and clinical trials, and the commercial team is the last to build.
In the heavy volume stage, the real benefits cannot be obtained for a while
.
This can also be seen from the H1 financial report of Baekje: Baekje 2021H1 revenue was US$244 million, but it spent US$414 million in sales and management expenses
.
Cinda Bio
Capitalization process ★★★★
Commercialization capability★★★★
The pace of globalization★★★
Cinda’s development is relatively balanced.
Taking PD-1 as an example, whether it is Sindili’s license out of US$1 billion or sales of 1.
39 billion in the first half of 2021 (by Eli Lilly), it overtakes Junshi in the morning market, second only Yu Hengrui, the commercialization and globalization capabilities have been verified to a certain extent
.
Although Cinda is only listed on Hong Kong stocks, the Hong Kong Stock Exchange is a foreign beachhead with a higher degree of internationalization
.
According to the NextPharma® database of Medicine Rubik's Cube, 33 of Cinda's 36 pipelines have entered the international clinical and later stages, and the proportion of project globalization is 91.
7%
.
However, the above information also shows that Cinda's shortcoming lies in its relatively thin product pipeline, which was established one year later than BeiGene, and the number of pipelines was 30% less than that of BeiGene
.
Summarize
SummarizeOf course, the dimensions of evaluating a company are by no means just the above three points.
The above comparison is simple and rude and not serious.
I hope Bojun will smile on weekends
.
Just like the Olympic athletes on the field, we saw the ambition in their eyes, and they also felt the expectations in our hearts
.
The moment to win gold and silver must be the result of resonance at the same frequency on and off the court
.
Looking forward to China going out of MNC one after another, so that the leaderboard will also have our flag flying
.