The gross profit margin reaches 90%, and the proportion of R&D is close to Hengrui! Yuandong's net profit soared

Medical Network News, March 4, last September, just landed on the science and technology version of Yuandong Biotechnology recently released a 2020 performance report.
The company's annual net profit exceeded 178 million yuan, a year-on-year increase of 64.
03%, and the gross profit margin for the first three quarters was close to 90%.

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In the past two months of 2021, Yuandong Biotechnology has won 2 approval documents for injections, and has also applied for the listing of 2 high-end injections.
The company has been focusing on high-end chemical drugs, focusing on innovative drugs, and biological drugs.
Seeking development as the business philosophy, decided to invest about 340 million yuan to build an internationally standardized pharmaceutical research and development technology platform and high-end workshops that meet the standards of the United States and the European Union.
It is foreseeable that the company will have more high-end products on the market in the future
.

The gross profit margin is as high as 90% , and the potential of Yuandong’s best-selling products has exploded
.
Figure 1: Yuandong Bio-Bio and Hengrui Pharmaceutical’s gross profit margin and R&D investment ratio (unit: %) Source: The company’s annual report Yuandong Bio’s operating income is less than The scale of 1 billion yuan is not very large among listed pharmaceutical companies, but its gross profit margin has been rising all the way, attracting investors' attention; in addition, the company has always been driven by R&D innovation, and its R&D investment ratio has been maintained at a relatively high level.
, The proportion of R&D investment in 2019 is even more comparable to that of Hengrui, the “big brother in R&D”
.
Figure 2: The sales contribution rate of Yuandong Bio's main products in 2020H1 Source: Minet.
com China's public medical institutions terminal competition pattern.
Minet.
com data shows that in China's urban public hospitals , county-level public hospitals, urban community centers and township health centers (referred to as China) Public medical institutions) terminal, Yuandong Bio’s best-selling products involve seven major categories of musculoskeletal system, cardiovascular system drugs, anti-tumor and immunomodulators, miscellaneous, digestive system and metabolic drugs, nervous system drugs, and systemic anti-infective drugs.
Class
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Bisoprolol is Yuandong Bio's flagship product, with a sales contribution rate of over 22% in the first half of 2020
.
Bisoprolol is a large variety of cardiovascular system exceeding 1 billion, and it is also the second batch of national centralized procurement catalog products.
Yuandong Biotech quickly seized the original research market after winning the bid.
Merck Serono's market share fell to about 63% in the first half of 2020 , While Yuandong Biology rose to more than 18%.
The company’s performance bulletin also mentioned that “the core preparation product, bisoprolol fumarate, has won the bid for centralized drug procurement in the country, which has led to an increase in sales
.
” Ibandronate sodium injection was included in the National Medical Insurance Catalogue in 2017, and the overall sales volume increased rapidly
.
Yuandong Biologics took advantage of the trend to increase the market development of this product, and the sales growth rate of the terminal of China's public medical institutions in 2018-2020H1 was 72.
48%, 51.
21%, and 13.
49%, respectively
.
The company mentioned in the performance bulletin that the sales of the product in the first three quarters of 2020 increased rapidly year-on-year, and the annual growth rate is expected to increase again
.
Yuandong Bio's ibuprofen injection was approved in 2018, and it won the indications for heat and analgesia.
It is the "first imitation + first review" in China.
In 2019, the terminal sales growth rate in public medical institutions in China has reached 1790%.
In July of that year, the product was approved as a new indication for "antipyretic and analgesic treatment of pediatric patients 6 months and older".
It is expected that the market is expected to continue to increase in volume in the future
.
Table 1: The status of Yuandong's musculoskeletal system products approved for listing in 2019.
Source: Mynet database.
The musculoskeletal system is Yuandong's largest proportion of pharmaceuticals in public medical institutions in China.
In 2019, the company will be new in this category.
The market share of the two products approved for marketing in 2020H1 has been greatly improved
.
Etocoxib tablets successfully won the bid for the third batch of national centralized procurement and is expected to usher in a rapid increase in 2021.
Parecoxib sodium for injection also passed the consistency evaluation in December 2020
.

　　2021 is a good start! 2 major injections have been reviewed, and 2 high-end imitations have been declared for listing
Yuandong Biotech mentioned in the performance bulletin that in 2020, the company will obtain production approvals for 6 new products including Memantine Hydrochloride Sustained Release Capsules and Glycopyrronium Bromide Injection
.
According to data from Minai.
com, in the first two months of 2021, the company's fasudil hydrochloride injection and citrate coffee/coffee/injection/injection passed the consistency evaluation.
Up to now, the company has passed the evaluation (including deemed Comment) There are 11 products
.
Table 2: The status of Yuandong Biologics products approved in 2021 Source: Meinenet MED2.
0 Chinese Drug Evaluation Database Fasudil Hydrochloride Injection is a cardiovascular system drug.
According to data from the NMPA official website, Qilu Pharmaceutical was released in December 2020.
It was approved for the first review in January, and Yuandong Bio and Better Pharmaceuticals reviewed the same day on January 26, 2021.
At present, the product has formed an "original research + 3 imitation" pattern.
Will it become the next product to be included in the national procurement? What? Yuandong Bio's citrate coffee/coffee/yin injection was approved to be marketed in 2016 and was the first imitation in China.
In 2018, another product with another specification was also successfully approved.
This product is used for the treatment of primary respiration in premature newborns.
Pause
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At the terminal of public medical institutions in China, this product is led by the original research drug company, but its share is declining year by year.
The domestic pharmaceutical company Zhongyuandong Biotechnology has a market share of more than 20%.
It has been successfully reviewed and is expected to replace the original research in the future
.
Table 3: Status of products declared for listing in 2021 Source: Meinenet MED2.
0 China Drug Evaluation Database is in the terminal of Chinese public medical institutions.
Sodium valproate is the TOP1 anti-epileptic drug, and its sales in 2019 exceed 2 billion yuan.
In terms of dosage form, injections account for more than 60%, and the product involved is sodium valproate for injection
.
The market share of the original research drug company Sanofi and the domestic pharmaceutical company Shenyang Xinma Pharmaceutical in 2020H1 are both around 40%, and Sichuan Creed Pharmaceuticals has also obtained approval, but no company has reviewed it yet
.
In addition to Yuandong Biotech and Chengdu Lier Pharmaceutical, the companies that have applied for the listing of concentrated solution for sodium valproate injection, who can win the "first domestic imitation + first review" of this product in the end? Phenylephrine hydrochloride injection on the domestic market is only approved by Shanghai Hefeng Pharmaceutical, and no company has reviewed it yet.
This product is a national medical insurance category B product
.
Currently, only Yuandong Biotech is the only company that has applied for listing under the new classification
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Over 　　300 million yuan in research and development, 8 new products are coming, Class 1 new drugs are worth looking forward to.
According to the company's annual report data, Yuandong Biosciences has never been stingy in R&D investment in recent years, and the proportion of R&D has almost reached the "R&D brother.
" Hengrui, the early declared products have gradually entered the harvest period
.
On January 27, 2021, Yuandong Biopharmaceuticals issued an announcement stating that in order to accelerate the implementation of the strategic goal of becoming a global specific patented prescription drug company, and to further improve the ability and speed of drug R&D and innovation, the wholly-owned subsidiary, Chengdu Shuode Pharmaceutical Co.
, Ltd.
In 2.
5 years, it invested 336.
42 million yuan to build an internationally standardized pharmaceutical research and development technology platform and a high-end oral liquid workshop, a high-activity and high-toxic injection workshop and a high-end solid preparation workshop that comply with the US FDA cGMP and EU GMP standards.
products mainly concentrated in narcotic analgesics, cardiovascular drugs, and other children's products include solid dosage forms of tablets, injections, powders, oral liquid
.
After the completion of the project, the company's R&D technology platform will meet international standards, and its R&D and innovation capabilities will be further enhanced.
At the same time, it will have international standard manufacturing capabilities to fill the company's international high-end oral liquids, high-activity and high-toxic injections, and high-end solid preparations.
The blank
.
Table 4: As of 2020, Yuandong Biologics has declared for marketing and is under review.
Source: Meinenet MED2.
0 Chinese Drug Evaluation Database Shugeng Sodium Gluconate Injection is the world's first specific binding developed by Merck and Organon Neuromuscular blockade antagonists are used to antagonize rocuronium or vecuronium-induced neuromuscular blockade.
In 2020, the global sales of this product will be close to 1.
2 billion US dollars
.
In May 2017, the original research product was approved to enter the domestic market, and the terminal sales growth rate in China's public medical institutions in 2019 was as high as 804.
21%
.
East Court now includes biological, including the existing 15 companies according to four categories listed generic declaration from the contractor time point of view, the first declaration of Cologne in 2018 the first, the Yangtze River, NJCTT pharmaceutical, Henry, Qilu, Humanwell The acceptance numbers of other domestic giants are under review, and the dispute for the first imitation of Shugeng Sodium Gluconate Injection is quite fierce
.
Vivaroxenic acid powder is one of the few effective drugs approved by the US FDA to treat infantile spasms (IS) and some adults who cannot control seizures after using multiple epilepsy therapies.
This product has not yet been used in Domestically, it has been approved for import, and currently only Yuandong Biotech has applied for the imitation of this product for marketing
.
In addition, the company's future products are expected to include eutagliptin tablets, CX3002 tablets, and macromolecular biological drugs EP-9001A monoclonal antibody injection
.
Table 5: The status of Yuandong Bio's major new drugs under development.
Source: China Drug Clinical Trials Public Library of Meinenet.
It is reported that eutagliptin tablets are a long-acting hypoglycemic drug that can be taken orally once a week
.
At present, this class 1 new drug has entered the phase II clinical trial phase.
It is expected that the phase II clinical report will be issued in June 2021, and it will be applied for listing in 2025
.
CX3002 tablet is a factor Xa inhibitor, used to prevent the formation of acute deep vein thrombosis.
The phase I clinical trial has been completed.
The new drug has a clear mechanism of action, outstanding efficacy, and a lower risk of bleeding
.
It is reported that the new drug, apixaban and rivaroxaban belong to the same class of drugs.
The global sales of the two major products in 2020 will exceed 14 billion U.
S.
dollars and 7.
7 billion U.
S.
dollars, respectively
.
EP-9001A monoclonal antibody injection is a new product that Yuandong Biologics is currently making rapid progress in the field of macromolecular biopharmaceuticals.
It is expected to apply for clinical application in 2021.

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It is reported that the new drug is a humanized monoclonal antibody drug with a new mechanism of action.
The anti-nerve growth factor (NGF) antibody selectively binds to and inhibits nerve growth factor (NGF) and blocks the pain signals produced by certain organs in the body.
Enter the spinal cord and brain to play an analgesic effect.
If the product is successfully approved, it will enrich the company's product pipeline in the field of anesthesia and analgesia and enhance market competitiveness
.
Source: Company announcement, Minet database