PD-1 First Tier Revenue Rankings Are Big Open! What is the commercialization capability of innovative pharmaceutical companies?

At present, 8 PD-1/L1 enterprises have announced the first half of 2020 results, PD-1/L1 first echelon of the overall results are rising rapidly, the market size gradually opened up, but the differentiation is also increasingly apparent, health care and sales capacity has become the key.
01 achievement differentiation first look at the first approved domestic PD-1 - from Junshi's Ripley single resistance, the product was approved for listing in China in 2018, at the end of February 2019, relying on Junshi Bio's sales team of more than 100 people officially began sales, in 2019, the drug achieved sales revenue of 778 million yuan.
sales in the first half of 2020 were 426 million yuan, with a gross margin of 89.84 percent and a sales expense of 228 million yuan.
, the sales of the six PD-1s are downstream, and its sales team is not large.
for Biotech, which has been commercializing for a year, sales revenue is still good, from the initial 100 to the current 561.
Xinda Bio's Xindili single resistance is the second approved domestic PD-1, which was approved at the end of 2018, the first year of commercialization in 2019 to achieve sales of more than 1 billion yuan, 2020 after the inclusion of health insurance price reduction, still achieved rapid growth, sales of 921 million yuan in the first half of the year, close to last year's full-year data, growth rate of 177%.
Cymrefore, the inclusion of health insurance has accelerated access to hospitals, expanded coverage in major and sub-cities, and built awareness between doctors and patients with Medicare.
the first half of 2020, the number of hospitals covered by the product will also increase from 2,000 to 3,500, while the number of DTP pharmacies will increase from 500 to 900.
same period, Thyda's sales team also grew from more than 700 people to more than 1,100 people in size, sales and marketing costs of 446 million yuan, about twice as much as Junshi, but at the same time Xinda has two commercial products.
Hengrui's Karelli Pearl Single Resistance was approved for listing in May 2019 and is the third domestic PD-1 product, which is about half a year late compared to the previous two products and is the only product in the four major domestic PD-1s that has not published sales data.
But according to industry sources, sales in the first half of 2019 have exceeded 1 billion yuan, and in the first half of 2020, some media quoted IQVIA data that its half-year sales have exceeded 2 billion yuan, and said anti-super K drugs, but also said that its sales exceeded 1 billion yuan.
, Hengrui's sales team is about 15,000 people, and its commercialization ability is not to be underestimated.
and the fourth domestic PD-1 from Baiji Shenzhou, which was approved at the end of 2019, listed for sale in March 2020, so compared with several others, Baiji Shenzhou sales revenue of less than six months of data, but in about four months of sales time achieved sales of 49.94 million U.S. dollars, about 350 million yuan, if you can maintain this level, the end of the year can exceed 1 billion.
PD-1 is not the first commercial product to have been commercialized for several years, compared with two other innovative drug research and development companies.
in the first half of this year, Baiji Shenzhou's sales, general and administrative expenses reached 230 million U.S. dollars, or more than 1.6 billion yuan, an increase of 65% year-on-year, while Baiji Shenzhou's commercial products have reached at least 5 models, and a number of self-research and cooperative products are expected to be approved within a year.
In addition, four other PD-1/L1 products from Mercer East, BMS, AstraZeneta and Roche did not publish sales data for China, but according to the above-mentioned media cited IQVIA data, Hengrui has been anti-Meshadong, becoming the highest-selling PD-1 manufacturer in China.
but from the global data, Mercedon is still a ride away from dust.
July 31, Mercedon reported Q2 2020 sales of $3.388 billion, up 31%, and first-half cumulative revenue of $6.672 billion, up 38%.
also said that thanks to K medicine and HPV vaccines, Mercadon's revenue in China in the second quarter of $811 million, an increase of 9%, the chinese market in the first half of the cumulative revenue of $1.657 billion, an increase of 14%, indicating that K medicine sales in China is still growing rapidly, and contributed to the main growth momentum.
, on the other hand, was less optimistic, with global revenues falling 6 per cent to $3,419m in the first half, well below K's $6,671m.
02 is only the beginning of PD-1 in the Chinese market is still less than three years, although the life cycle of innovative drugs is getting shorter, but three years for the broad-spectrum anti-cancer drug PD-1 in China is far from peaking.
According to third-party estimates, China's anti-PD-1/PD-L1 inhibitor market is expected to reach Rmb13.2bn in 2020 and Rmb66.4bn in 2023, and will grow to Rmb98.8bn in 2030, meaning there is still nearly eight times as much room for growth in the market over the next decade, with eight products sharing more than Rmb10bn this year alone.
from the adaptation certificate, although the PD-1 super-adaptation certificate range sales is no 1 news, but at present, each is still vigorously expanding the adaptation certificate.
K drug has now obtained 5 adaptation certificates, Hengrui later caught up, approved liver cancer, non-small cell lung cancer and other 4 items, O drugs approved 3, these three PD-1 product adaptation certificate expanded the fastest, has also taken the lead in lung cancer, liver cancer and other large adaptation certificate, Baiji Shenzhou, Cinda, Junshi although approved relatively few, but at present has been in the large adaptation certificate near the stage of approval or declaration.
from the price point of view, the price of domestic PD-1 in health insurance and charity after the drug is about 100,000 yuan / year, the difference is not much, but imported products are generally much higher than this.
and Kangfang Biological / Zhengda Tianqing, Keystone Pharmaceuticals and other second-tier manufacturers have also been declared on the market, it is expected that in the second half of 2020 to the first half of 2021, the second-tier products will be approved one after another.
is only the beginning for PD-1's vast market in China.
But it is not difficult to find that PD-1/L1 has become one of the first products to be commercialized by some innovative pharmaceutical companies, such as Junshi, Xinda, Baiji Shenzhou, Kangfang Bio, and so on, PD-1 has become the market for these innovative pharmaceutical companies to train and grow.
the commercialization of innovative pharmaceutical companies has become one of the concerns.
We are seeing better-selling companies such as Hengrui and Mercedon all have strong sales teams, while Thyda has achieved volume through health insurance, as well as imported products have their overseas market performance and data endorsements.
but there is no doubt that the commercialization capabilities of these innovative pharmaceutical companies, which aspire to be big Pharma, are key to their continued growth.
Among them, Baiji Shenzhou due to the acquisition of partners in China and the United States at the same time to build their own team, Kangfang Biological with the help of Zhengda Tianqing hand cut into commercialization, Xinda, Junshi, etc. through the mining of multinational pharmaceutical companies to establish a commercial team.
Through previous interviews with E-drug managers on some innovative pharmaceutical companies, only one or two companies have said they want to build super-large-scale sales teams, while most companies will gradually expand their scale according to the progress of product approval, and will strive for health insurance to reduce their dependence on scale, which is also suitable for the commercialization path of most innovative pharmaceutical companies.
the life cycle of innovative products is shortened, it is a common goal to achieve peak product sales as early as possible, and health care is now their biggest catcher.
2020 health-care catalog has become a battleground for these drug companies.
but in any case, PD-1/L1 is only the beginning in the Chinese market, and there are many possibilities ahead.