Science and Technology board pharmaceutical enterprises listing analysis: innovative drugs marketing power is insufficient in vitro diagnostic declaration competition

On December 18, the CSRC agreed to the IPO registration of Tebow Bio-Creative BoardThis is the 15th successful IPO in the pharmaceutical industry01The listing has been questioned
public information shows that Tebow Bio was founded in 1996, is mainly engaged in the research and development, production and sale of recombinant proteins and long-lasting modified drugs innovative biopharmaceutical enterprises, with immunorelated cytokine drugs as the main research and development directionCurrently listed products include 1 country 1 new biological products - Paigebin ® and 3 countries 2 new biological products (Terli ®, Terzin ®, Tercon ®), injection products sold in China, Brazil, India, Russia and more than 10 countriesAccording to the Shanghai Stock Exchange, Tebao Bio submitted an application for listing on March 27, 2019, ranking in the second batch of science and technology board acceptance listOn July 31, Tebow Bio was suspended from listing because of the expiration date of the financial information issued for listingTwo months later, the listing review resumesOctober 31, through the listing meeting, by the date of publication registered to passits prospectus shows that the IPO is expected to raise 608 million yuan, mainly for protein drug production and expansion and research and development center construction projects, new drug research and development projects and chronic hepatitis B clinical cure research projectsbut Tebow Bio successfully after the meeting, but because of the high academic promotion fees have been questionedThe prospectus disclosed that the company's operating income in the first half of 2019 was 319 million yuan, sales costs of 193 million yuan, of which 132 million yuan in academic promotion feesHalf-yearly academic promotion of 1432, including 79 large-scale conferences, the average number of participants is 110, large-scale conferences cost 43.5685 million yuanAccording to media reports, "the average 7.85 games a day."academic promotion fees have always been an important means for pharmaceutical enterprises to implement gold sales and promote new products, and also the industry's commercial bribery disaster areain addition, its main product Sigbin and other 5 polyglycol protein long-acting drugs in the research and development process, Tebao Bio through the purchase of exclusive license model, access to Beijing Key Kai Technology Co., Ltd in a field of patent licensing Spending money on patents, low research and development costs (average 6 per cent), and the background of the "outsider" of the real controller have raised questions about the company 02 The incentive to innovate drugs is insufficient, in vitro diagnostics "scrambling" as to whether Tebow is as bad as the doubt, it will take time to verify so far, the science and technology board open board has been close to half a year, according to E drug manager statistics, the current science and technology board to accept a total of 185 enterprises, of which, the registration effective 75, the termination of the audit of 23, the registration effective rate of 40.54%, the termination audit rate of 12.43% Specific to the biopharmaceutical manufacturing enterprises, a total of 27 enterprises, the proportion of industry declarations is only 14.59 percent Of these, 9 enterprises have been registered effective, 4 enterprises have terminated the audit, the registered student efficiency of 33.33%, the termination audit rate of 14.8% data source: Shanghai Stock Exchange from the overall data, the biopharmaceutical industry is a frontier innovation field, but the general enthusiasm of the declaration, the efficiency of registration is lower than the overall, and the termination audit rate is slightly higher specific to the enterprise, mainly manifested in the lack of incentive to innovate drugs Data, the proportion of innovative drugs declared about a quarter, 9 registered enterprises in effect only micro-core biological 1 innovative drug enterprises, the proportion of successful listing is less than half of the proportion of declarations As we all know, the industry has been acquiescing to the fifth set of registration standards for the unprofitable innovative pharmaceutical companies tailor-made, the establishment of the beginning of everyone feel that the innovation of the drug "great advantage", innovative drugs or the science and technology board everywhere flowering, at present still need momentum second, in vitro diagnosis ushered in the declaration tide, according to incomplete statistics, only in vitro diagnosis of this sub-sector, there are 5 enterprises to declare, close to 20% of the declaration rate Among them, the registration effective of the nine seats, in vitro diagnostics accounted for two seats, becoming the most successful listed in the number of sub-sectors from the termination audit, there are four enterprises as the termination status Among them, Hao Obo Bio focuses on in vitro diagnostic reagents, Seren Bio focuses on the development of antitoxins and anti-toxic serums, Yuandong Bio is made of chemical raw materials, Nokonda Pharmaceuticals for the pharmaceutical customization platform, according to its official website, the company specializes in pharmaceutical-related fields such as pharmaceutical, accessories, medical devices and consumables customized services original title: Science and Technology Board Pharmaceutical Stakes: Innovation Drug Listing Power Shortage, In vitro Diagnostic Declaration Race