The pharmaceutical industry will be divided in 2020, and the reshuffle of mergers and acquisitions is accelerating

　　Pharmaceutical Network Market Analysis : This year the pharmaceutical industry has deepened the degree of separation, the first quarter report card can be said to be two days of ice and fire As of April 21, a total of 157 Pharmaceutical companies in A-shares disclosed first-quarter results Of these, 25 have disclosed first-quarter results, one is a earnings report and 131 are earnings forecasts In the earnings forecast, 40% of enterprises pre-enjoyed (pre-growth, slight increase, loss, loss reduction), while 30 companies lost the first time, in the same period in 2019 only 4 Although this situation is short-lived, it has also to be said that the degree of division of pharmaceutical companies has deepened again
So in the face of the pharmaceutical industry's deepening degree of separation, how should the industry respond to it? Analysts pointed out that in this context, pharmaceutical companies began to accelerate the merger and acquisition reshuffle
In fact, for the vast majority of domestic pharmaceutical companies, the current situation may be much worse than expected Under the influence of a series of policies such as consistency evaluation, band procurement and auxiliary drug supervision introduced in 2019, domestic pharmaceutical companies have entered a brutal knockout competition And there are already pharmaceutical companies "down."
For example, as the top ten Chinese medicine KangEnbe sold two subsidiary shares at the end of last year, finally gave themselves to "sell."
Recently, Cohnbei intends to transfer to the provincial Chinese medicine health industry group about 533 million shares of Cornbel (20% of the company's total share capital), the transfer price of 6.5 yuan per share This means that after the transaction is completed, the actual controller of Connbee will be changed to sASAC of Zhejiang Province
Industry insiders point out that many sub-tracks begin to accelerate into the phase of change and integration, either actively or passively Mergers and acquisitions are likely to be the main theme of the pharmaceutical industry in 2020
As recently announced by Kangchen Pharmaceuticals, it plans to acquire the assets of Tailing Pharmaceuticals, a listed company in Hong Kong, for 900 million yuan, and to raise an additional 400 million yuan It is reported that on April 21, the company, subsidiaries and related entities signed the "On the payment of cash to purchase assets agreement." Company subsidiary Kangchen Bio paid 900 million yuan in cash (tentative consideration, three installments) to Thailing International Shareholder BVI To purchase 100% of its holding of Tailing International, thus realizing the acquisition of the assets of the mi-covered interest; After the completion of the acquisition, according to its final control party Tailing Pharmaceutical's overall business layout and arrangements, the cover-up of interest assets and business distributed in different subsidiaries of Tailing Pharmaceuticals
It is also worth noting that a listed company in the current science and technology board has launched a merger and reorganization, on December 6 last year, Huaxingyuan announced the merger and reorganization plan of the Science and Technology Board, and on March 9 this year disclosed the draft reorganization On April 10, the company announced that it had received an inquiry letter from the SSE In this regard, the industry expects that mergers and acquisitions restructuring, refinancing as the basis of the science and technology board system will be further advanced this year, the scale of mergers and acquisitions will be further enhanced
But for those industry giants, the strength of their strength may usher in unprecedented opportunities for corporate construction and industry consolidation On the one hand, the cost of mergers and acquisitions and investments has fallen during the trough period, and on the other hand, the performance of some companies has come under pressure and the willingness to sell has increased
Some analysts also pointed out that "in the restructuring of the new rules, refinancing new rules, driven by the 2020 A-share spree ushered in a new round of mergers and acquisitions and restructuring tide." It is expected that 'same industry, upstream and downstream' industry mergers and acquisitions will become the mainstream, the growth sector is still the main force of mergers and acquisitions, while in the valuation differentiation environment, undervalued and cash flow stability of the traditional industry companies may usher in a new wave of cards "