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    Home > Active Ingredient News > Drugs Articles > PricewaterhouseCoopers plans to "marry" Kyrgyz holding for about RMB 750-850 million

    PricewaterhouseCoopers plans to "marry" Kyrgyz holding for about RMB 750-850 million

    • Last Update: 2018-06-14
    • Source: Internet
    • Author: User
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    [chinapharma.com Enterprise News] Kyrgyz holding was suspended from trading on June 12 On that day, it disclosed major planning matters involving the purchase of assets Changchun Puhua Pharmaceutical Co., Ltd (hereinafter referred to as Puhua pharmaceutical) is the target of the proposed acquisition, with a price of about RMB 750-850 million The products of Puhua pharmaceutical are mainly used in ophthalmology At the beginning of this year, after the storm of "sapeus eye drops", the state regulatory department issued a notice to require seven enterprises that produce benzyl aminoacid eye drops to start clinical effectiveness tests as soon as possible Among them, PricewaterhouseCoopers is the second largest source of revenue of PricewaterhouseCoopers For the consideration of the policy risk and clinical re evaluation of the subject matter of the proposed merger and acquisition, the relevant personnel of GJY holdings told the reporter of daily economic news that the specific situation is not particularly understood At present, the company has obtained the basic information of the other party and is in the stage of just contacting As of the time of publication, PwC has not replied The IPO of former growth enterprise board of PricewaterhouseCoopers is divided into pharmaceutical sector and chemical sector by Phuket holding The core Chinese medicine in pharmaceutical sector includes medicine in gynecology, cardio cerebrovascular and other fields The target of the merger of Jilin Pharmaceutical Holding Co., Ltd also includes proprietary Chinese medicine, which is mainly used in Ophthalmology, dermatology and musculoskeletal system The reporter noted that PwC pharmaceutical industry began to receive listing guidance in September 2010 At present, the CSRC can find the three gem prospectus (application draft) of PWC pharmaceutical industry, which were submitted on October 8, 2014, August 4, 2016 and December 19, 2017 respectively It can be found that the gem development and audit committee published the audit results on February 24, 2017: the PWC pharmaceutical industry failed At that time, the IEC meeting raised four main questions, including: in addition to the guarantee obligation risks involved in Kesheng pharmaceutical, there were many financial irregularities in PwC pharmaceutical, such as the salesman directly collecting the payment and the customer collecting the payment in his own name, offsetting the sales expenses with the payment, and asking whether its internal control system was sound and implemented At the same time, since the average annual sales volume of PWC to secondary distributors is significantly higher than that of primary distributors and retail pharmacies, the IEC inquired about the verification method for secondary distributors to achieve final sales The number of dealers is large and the increase and decrease are large, which is also a concern The reporter also tried to inquire about the current handling of these defects As of the time of publishing, the phone of PWC pharmaceutical had not been connected In the gem prospectus (application draft) sent by PwC daily on December 19, 2017, published on the website of China Securities Regulatory Commission, the reporter noted that PwC had put forward the risk of performance growth relying on ophthalmic drugs According to the document, from January to June 2017, the total sales revenue of the company's compound bear bile eye drops and benzyl ammonia eye drops was 44.8538 million yuan, accounting for 46.49% of the current operating revenue, and the proportion of 2014-2016 was more than 40% Meanwhile, in the first half of 2017, the gross sales profit of these two products was RMB 40.0629 million, accounting for 57.79% of the gross sales profit According to the above documents, the production and sales of compound bear bile eye drops and benzyl amino acid eye drops determine the company's profitability to a large extent If there is market fluctuation, the profitability may be affected The brand of Pu Hua Pharmaceutical's Benzyl ammonia eye drops is "jiashili", which has sales records on some e-commerce platforms Benzyl aminoacid eye drops have been the second largest source of income in the pharmaceutical industry for many years At the same time, the compound growth rate of sales revenue of the company's Benzyl ammonia eye drops reached 28.31% in 2014-2016, because the market awareness of the product is constantly improving The gross profit rates of 2014, 2015 and 2016 are all over 87% In China's cataract retail market, the market share of products is relatively concentrated, and the market share of the top eight brands in 2016 is more than 80% Take 2016 as an example, the market share of BEP eye drops is 54.37%, followed by the products of PWC, which reached 9.49% in 2016 This important source of income is now a little more complex, with the public questioning the use of saps eye drops at the end of 2017 In January 2018, China's drug regulatory authorities issued a notice to multiple food and drug administrations, requiring local bureaus to urge the production enterprises of benzylamine eye drops within their jurisdiction to start the clinical effectiveness test as soon as possible, and report the evaluation results within three years According to the 2017 annual report of saps, the company has started the consistency evaluation of benzyl ammonia eye drops in 2016, and will promote the consistency evaluation according to the above provisions In the gem prospectus (application draft) submitted by PwC on December 19, 2017, the content of promoting clinical trials of the drug has not been found yet Original title: Pu Hua Pharmaceutical Co., Ltd plans to "marry" the main products of Kyrgyz Holding Co., Ltd once been involved in "the storm of sapais" Reporter: Zhao Tianyu editor: Wenduo
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