The future opportunities of the pharmaceutical industry are still optimistic. It is recommended to pay attention to these pharmaceutical enterprises!

[trends of pharmaceutical network industry] since the second half of this year, influenced by the policies of 4 + 7 volume procurement nationwide expansion, the internal pattern of the pharmaceutical sector has continued to differentiate However, due to the consumption and growth attributes of the pharmaceutical industry, the future market opportunities are still promising It is suggested that the focus should be on innovative drugs and industrial chains that encourage innovation, i.e companies that conduct research and development of innovative drugs and companies that provide research and development and outsourcing services for innovative drug companies In terms of innovative drugs, it is suggested that domestic pharmaceutical innovation leaders, such as Hengrui pharmaceutical and Fosun Pharmaceutical, etc.; for companies providing R & D and outsourcing services for innovative pharmaceutical enterprises, it is suggested to focus on leading cro giants such as Wuxi apptec and tiger pharmaceutical Hengrui pharmaceutical is a pharmaceutical enterprise with more R & D investment, strong R & D strength and more class 1 innovative drugs listed in China In terms of R & D strength, in recent years, Hengrui's R & D expenses account for more than 10% of its revenue, including 15% in 2018, comparable to that of multinational pharmaceutical companies In addition, in terms of the listing of innovative drugs, in 2018, both 19K and pyrrolidine of Hengrui medicine have been listed, and PD-1 will be listed in 2019 In addition, new innovative drugs such as famitinib, AR inhibitor, retagliptin, henggliptin, remazolam and hetrapa are expected to be on the market in the future Fosun Pharma Fosun Pharma's R & D investment has increased rapidly in recent years In 2017, its R & D investment was 1.529 billion yuan, accounting for 8.25% of revenue; in 2018, its R & D investment was 2.507 billion yuan, accounting for 10.06% of revenue In the first half of 2019, Fosun's R & D investment totaled 1.351 billion yuan, up 13.69% year on year It can be seen that since 2018, its R & D investment accounts for more than 10% of revenue Fosun Pharmaceutical has some layout in the field of small molecule innovative drugs For example, Fuhong Hanlin's hlx55 has been approved for clinical trials, and fuchuang's fcn-159 has been approved for clinical trials in the treatment of advanced solid tumors In addition, the PD-L1 inhibitor of Fuhong Hanlin is in clinical stage 1 Docetaxel polymer micelles for injection are currently in clinical phase 1 Fosun Kate's car-t product fkc876 (i.e yescarta listed in the United States) is intended to be used for the treatment of relapsed and refractory non-Hodgkin's lymphoma It is currently in clinical phase 1 and is expected to be listed in 2020 or 2021 As a domestic cro "unicorn" enterprise, Wuxi Wuxi Pharmaceutical Co., Ltd currently serves many multinational pharmaceutical enterprises, and has formed the whole industrial chain layout According to the company's annual report, in 2018, the company achieved an operating revenue of 9.614 billion yuan and a net profit of 2.26 billion yuan, up 23.8% and 84.22% year on year During the reporting period, Wuxi apptec added more than 1400 customers and more than 3500 active customers The revenue of laboratory services in China was 5.113 billion yuan, up 28% year on year At present, tag Pharma has a complete layout in all fields of clinical cro, and its competitiveness is expected to continue to increase in the future Since its listing, the revenue and net profit attributable to the parent of tiger pharmaceutical have been increasing as a whole In 2018, the revenue was 2.301 billion, an increase of 36.37% on a year-on-year basis, and the net profit attributable to the parent was 472 million, an increase of 56.86% on a year-on-year basis It is worth mentioning that in 2018, the amount of assets related to the merger and acquisition of tiger pharmaceutical was outstanding, with a total of 2.358 billion at the end of 2018 It is reported that the company's M & A is mainly around the cro market, with the purpose of improving its service ability and global market coverage For example, the acquisition of Fangda pharmaceutical to strengthen pre clinical cro + be clinical, the acquisition of Beiyi Renzhi to fill in the gap of aro business, the acquisition of Shanghai Mercure pharmaceutical to strengthen PK analysis and clinical trial design capabilities, etc.