The fourth batch of national harvest was unveiled, Chinese medicine was not included! Hepatitis drug king firmly sit overlord, 1 class of new drugs to open up chemical drug territory

Recently, the fourth batch of national harvest varieties out, in the industry caused extensive discussion, this time a total of 44 varieties of 90 products into the collection, biological agents and Chinese medicine is still not included.
Chinese medicine stocks have not been affected, the market value continues to climb, as of the date of writing, the total market value of theis close to 150 billion yuan, up as much as 130% so far this year.
"Drug King" in the retail terminal market share continues to rise, 2020 to date, the declaration of three new Class 1 drugs have attracted much attention.
market value from 2 billion to more than 100 billion, focusing on liver disease drug sales of 2 billion data show that the market value ofwhen the market in 2003 is only more than 2 billion, the current market value has exceeded 140 billion Yuan, the latest released three-quarter report data show that the company in the first three quarters of 2020 to achieve operating income of 5.07 billion yuan, up 16.78 percent year-on-year, net profit of 1.329 billion yuan, up 19.83 percent year-on-year.
forecast that the company's net profit is expected to reach more than 1.6 billion yuan in 2020, a growth rate of about 20%.
company's bright performance attracted the attention of many investors, some time ago, there are rumors of "value investment" style of private equity tycoon Linyuan to reduce holdings, the filmonce flashed, followed by rumors that "only some of the larger funds have been split", but some brokerages believe that the company's core product gross margin continued to decline, uncertainty in the future, is causing investors to worry about the fuse.
Figure 1: Chip 1 Hepatology Drug Revenue (Unit: 100 million yuan) Source: The company's annual report on liver disease drug use is the core business of Chipo , from the previous three quarters, the proportion of the business in the company's total revenue in the last three years from 39.49 percent all the way up to 44.10 , the gross margin fell from 83.29 percent to 79.52 percent, while the full-year results, 2018 liver disease drug sales close to 1.8 billion yuan, gross margin of 83.02 percent, in 2019 exceeded 2 billion yuan, gross margin of 81.99 percent.
first three quarters of 2020, hepatology drug revenue has been higher than last year's full-year level, sales are expected to reach a new high this year.
In January this year, theannounced that due to the rise in the main raw materials and labor costs, the company's leading product Chipotleingots domestic market retail prices from 530 yuan / grain to 590 yuan / grain, the supply price correspondingly increased by about 40 yuan / grain;
, the price adjustment achieved the effect of volume price increase, but the gross margin fell below 80%.
the main componentspieces of ox yellow, musk in recent years prices continue to rise, the future of how the company to carry the production pressure to improve efficiency, it is worth continuing to observe.
Hepatitis drug king position is stable, 3 1 new drugs to open the field of chemical drugs prologue figure 2: hepatitis drug TOP3 enterprise market share situation source: Minet China's urban physical pharmacies in the drug terminal competition patternhepatitis drug main sales market in Retail pharmacies, according to Minanet data show that in recent years, the market share of chinese medicine terminal hepatitis drugs in Chinese city physical pharmacies has reached a record high, and is expected to rise to 45.49 percent in 2020, with TOP2, TOP3 enterprises to open the gap will be more obvious.
Table 1:2020E hepatitis drug brand TOP20 Source: Mi-Net China's urban physical pharmacies, chinese drug terminal competition pattern according to the 2020 full-year forecast data show that the tablet , tabletcapsules, yin bile The three exclusive products of flat liver capsules ranked TOP1, TOP4 and TOP11 respectively, and the tabletcontinued to hold the title with a very high market share, while the tabletcapsule rose 2 places from last year's TOP6, and the decline of the bile flat liver capsule was obvious.
In August 2020, the company announced that it had received a notice of approval from the State Drug Administration and that the clinical trial supplement application for the increased treatment of late-stage primary liver cancer in the listed varieties of Tablethad been approved.
in addition to strengthening the research of the chip, the company is also in the layout of innovative drugs, especially in the field of liver and bile related innovative drugs, help and the company's existing chipproducts in coordination, increase the company's liver and bile field advantages, enhance competitiveness.
Table 2:2020 to date declared the new drug situation source: Minet MED2.0 China Drug Review Database in August 2020, the company announced that PZH2111 tablets were approved clinically, the new drug is mainly used to treat endocardioblastical cell carcinoma, urethra cell carcinoma and other advanced solid tumors.
As of the date of the announcement, the new drug research and development investment accumulated about 27.5 million yuan, the same adaptive drugs have been approved by the FDA in recent years conditions for listing, there is no similar drugs with the same adaptive disorders approved for market.
December 2, the company announced that PZH2108 tablets were approved for clinical use, the new drug is mainly used to treat cancerous pain.
as of the announcement date, the drug research and development investment accumulated about 28 million yuan, at home and abroad without the same adaptive disease of the same target drug was approved for market.
PZH2109 capsule is mainly used to treat non-alcoholic fatty hepatitis, the new drug was declared clinical in August this year, November 12, the company voluntarily withdrew the application, it is understood that in order to further improve the relevant preclinical research data, as of the date of the announcement, the drug project research and development investment accumulated about 28 million yuan.
saroglitazar magnesium drug for the treatment of non-alcoholic fatty hepatitis was approved for sale by the Indian Medicines Agency in March 2020, while drugs with the same target-identical adaptive disorders were approved for sale in the United States and China.
the follow- PZH2109 capsules of the tablets will be submitted again clinical applications, Mienet will continue to pay attention.
cosmetics profits go up to split the listing, the filminto the "first" National Bureau of Statistics data show that in 2019 China's cosmetics industry market retail sales close to 300 billion yuan, from the growth rate, 2001-2019 compound annual growth rate of up to 18%.
Pharmaceutical companies actively cross-border cosmetics is also sniffing out the business opportunities, in recent years, a number of Chinese medicine star enterprises such as Yunnan White Medicine, Tongrentang, Ma Shouldlong and other areas of daily layout, Yisheng Pharmaceuticals announced in September this year, plans to use self-financing 345 million yuan investment in the construction of cosmetics ginseng deep processing industry complex project.
, but from the current situation, directly to the cosmetics business spin-off listed pharmaceutical companies, theis the first.
Figure 3: Filmdaily necessities, cosmetics business revenue situation (units: 100 million yuan) Source: the company's annual report medicine is still the main source of revenue of the film In terms of gross margin, daily necessities and cosmetics were the second highest gross margin products in thein terms of business categories, reaching 70.92 per cent in the first three quarters of 2019 and falling back to 62.80 per cent in the first three quarters of 2020.
revenue, the first three quarters of 2020 have broken last year's full-year results and are expected to peak again this year.
October 24, the company announced that, according to the company's overall strategic arrangements, in order to play the role of optimizing the allocation of resources in the capital market to achieve balanced development of different business modules, it is proposed to start the spin-off of the cosmetics market preparatory work.
After this spin-off, the company will still maintain control of the film cosmetics, the film and Zhangzhou State-owned Assets Investment and Management Co., Ltd. holding 90.19% and 9.81%, the controlling shareholder is the film , the actual control is the State-owned Assets Supervision and Administration Commission of Zhangzhou City.
Figure 4: Film Cosmetics net profit situation (unit: 10,000 yuan) Source: The company's annual report announcement shows that the company's annual report shows that the Cosmetics owns the "Chip "Queen" and other brands, products covering skin care products, cleaning and care series, the current film cosmetics has established a covering department counters, daily chemical stores, pharmacy chains, experience stores, experience stores, e-commerce and business super and other channels of sales network.
net profit reached 80 million yuan in 2019 and 74 million yuan in the first half of 2020, and full-year net profit is expected to continue to rise.
industry analysts believe that in the field of Japanese chemicals, listed companies to obtain high valuations is not easy, coupled with in addition to domestic rivals, the film will also face fierce competition from international brands.
Piece has not disclosed the location of the cosmetics business to be listed, Xiangsong Capital Executive Director Shen Meng has told the media: If the film can come up with scientific research strength, the company will choose the board or GEM, so as to obtain a higher valuation;
investment market on the film this operation is not the same, the next company how to move forward, we will wait and see.
。