At present, China's pharmaceutical market is still dominated by generic drugs, and the development of innovative drugs has a big gap
compared with developed countries.
However, under the big stick of centralized procurement, the development logic of the pharmaceutical industry has undergone major changes, and domestic innovative drugs will achieve rapid development
.
The industry said that the main focus of the second half of the pharmaceutical industry is undoubtedly high-quality innovative drug companies
.
According to institutional forecasts, from 2019 to 2029, the sales scale of China's innovative drugs will increase significantly from 100 billion yuan to 800 billion yuan, with an annualized compound growth rate of more than 20%, and generic drugs will be reduced from 900 billion yuan to 400 billion yuan
in the same period.
It can be seen that China's innovative drugs will have broad market prospects
.
The future prospects of innovative drugs are also very clear
in the prosperity of the upstream CRO industry.
Data show that among the 16 A-share CRO companies, the average growth rate of main business income in the first three quarters of 2022 is 81.
82%, and the median value is 42.
4%; The average growth rate of net profit was 106.
53% and the median was 30.
52%.
Among them, WuXi AppTec and Clarion, the revenue and net profit data exceeded the industry value, showing the pattern
of the strong Hengqiang.
It is reported that WuXi AppTec is mainly engaged in pharmaceutical R&D and production outsourcing (CRO/CDMO), empowering pharmaceutical companies to meet the needs
of drug discovery, development and production.
According to the financial report disclosed by WuXi AppTec on the evening of October 26, in the first three quarters of this year, the company achieved operating income of 28.
395 billion yuan and net profit attributable to shareholders of listed companies of 7.
378 billion yuan, compared with the same period last year, the former increased by more than 70%, and the latter doubled, with a year-on-year increase of 107.
12%.
This growth rate is an acceleration compared to previous years
.
WuXi AppTec has previously said in the announcement that it is confident to achieve the growth target
of 68-72% revenue for this year.
According to the third quarterly report disclosed by Clarion on the evening of October 27, the company achieved operating income of 7.
812 billion yuan in the first three quarters, a year-on-year increase of 167.
25%; The net profit was 2.
721 billion yuan, a year-on-year increase of 291.
58%.
The company's small molecule business achieved revenue of 7.
136 billion yuan in the first three quarters, a year-on-year increase of 168%, and the revenue of emerging business in the first three quarters was 671 million yuan, a year-on-year increase of 154%; The domestic market entered the harvest period, with revenue of 1.
09 billion yuan in the first three quarters, a year-on-year increase of 160.
7%.
In addition, in the first three quarters of 2022, thanks to the delivery of large orders received before, the company achieved operating income of 5.
218 billion yuan, a year-on-year increase of 157.
05%; The net profit attributable to the shareholders of the listed company was 1.
578 billion yuan, a year-on-year increase of 337.
42%.
Among them, the API CDMO business achieved revenue of 5.
179 billion yuan, a year-on-year increase of 157.
23%; The preparation CDMO business achieved revenue of 18.
1575 million yuan, a year-on-year increase of 261.
8%; The gene cell therapy CDMO business achieved revenue of 17.
0114 million yuan, a year-on-year increase of 68.
8%.
The industry pointed out that innovative drugs are a typical R&D-driven industry, which takes a long time, has a large investment, and has a very high
industry threshold.
To win in long-term competition, R&D investment and pipeline layout are important reference indicators
.
In terms of the upstream CRO industry, the industry performance differentiation is also relatively obvious, and the leading advantage is prominent
.
It is reported that in addition to the good performance of the above companies in the first three quarters, from the A-share companies that have disclosed the three quarterly reports, in the first three quarters, the net profits of PharmaBlock, Boji Pharmaceutical, Price, Baihua Pharmaceutical and Tigermed decreased by 43.
57%, 35.
72%, 13.
04%, 79.
97% and 9.
90%
respectively year-on-year.
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