The third quarter report performance of vaccine enterprises has blossomed one after another, and the market prospect is promising

[pharmaceutical network industry trends] according to data, the global vaccine market in 2017 reached US $27.682 billion, including US $11 billion for adult vaccines and US $16.7 billion for children vaccines However, the domestic vaccine market scale was 21 billion yuan in 2017, 30 billion yuan in 2018 and 27 billion yuan in 2019 In 2017, the market share of the top seven companies in the industry was 52%, which was in sharp contrast with the market share of the top four companies in the international vaccine industry as high as 90% This may be related to the fact that China's vaccine industry has entered the market-oriented stage for only 20 years As of 2018, there are 59 enterprises with a record of vaccine batch issuance in China, and the pattern is still in a very decentralized stage However, since the long-term biological vaccine event in July 2018, the vaccine industry has been listed in the national strategic industry After the introduction of the vaccine management law, which is a separate law for the field of vaccines, the country began to continuously improve access standards and strictly control new vaccine enterprises Under strict supervision, the concentration of the vaccine industry began to accelerate In particular, in 2019, with the promotion of policies and other factors, the number of vaccine batches issued has increased significantly For example, as of October 20, the number of influenza vaccine batches issued in 2019-2020 influenza season has reached 20836500, which has exceeded the number of influenza vaccine batches issued in 2018-2019 influenza season With the increase of the number of vaccine batches issued, the performance of some enterprises has blossomed On October 24, Watson biology released the third quarter report, which showed that its revenue in the first three quarters was 797 million yuan, an increase of 39.09% year on year, and the non net profit attributable to the listed company was 114 million yuan, an increase of 90% year on year In the third quarter, the operating revenue was about 297 million yuan, a year-on-year increase of 49.38%; the net profit attributable to shareholders of listed companies was about 35.4336 million yuan, a year-on-year increase of 97.29% Watson biological said that it was mainly due to the growth of sales of independent vaccine products Its 13 valent pneumonia vaccine is in the review stage of application for production, and is expected to be approved for marketing within this year; 2 valent HPV vaccine has entered the critical time point of phase III, and is in the tail stage of case collection and analysis Recently, Zhifei biology also released the third quarter report Its revenue in the first three quarters was 7.667 billion yuan, up 119.35% year on year In the third quarter, the company realized revenue of 2.627 billion yuan, deducting non net profit of 621 million yuan, up 84.64% and 51.36% year on year respectively Mainly due to the increase of import products of sales agents In addition, the freeze-dried dosage form of Zhifei biological triple vaccine will also be declared in the near future The inventory of water injection type is sufficient and the sales in 19 years will not be affected It is estimated that the sales in 20 years will be affected for about two quarters The EC diagnostic kit and micro card vaccine are expected to be approved in the year In the later stage, the sales of 5-valent rotavirus and 4-valent meningococcal vaccine will be strengthened In addition, Kangtai biology, in the early release of the third quarter performance forecast, said that the company expected net profit of 415 million to 440 million in the first three quarters, an increase of 10.31% - 16.96% year-on-year In the third quarter, the net profit attributable to the parent company was RMB 157-182 million, up 74.58% - 102.41% year on year The sales volume of tetralogy seedlings of Kangtai biology increased significantly, which resulted in the third quarter performance of Kangtai biology exceeding the expectation In addition to the role of the sales volume of quadruple vaccine increased significantly, the listing of new 23 price pneumonia vaccine also led to the growth of its performance It is understood that the global vaccine market has grown steadily in recent years According to the report released by evaluatepharma, the economic scale of the global vaccine market in 2017 is 27.7 billion US dollars, and it is estimated that the global vaccine market will reach 44.6 billion US dollars by 2024 The vaccine industry will continue to be one of the high growth areas of market sales in the pharmaceutical industry for a long time in the future Although the global vaccine market share of GSK, MSD, Pfizer and Sanofi has exceeded 90% But as a high threshold, high input, high profit and strict supervision industry, once entering the high barrier market, the market competition pattern will be relatively stable And compared with innovative drugs, the vaccine market faces a relatively large population base Its prevention attribute also determines that the vaccine will reach the peak sales within 3-5 years after it goes on the market, and the enterprise can return the cost quickly Compared with innovative drugs, the production cycle of innovative vaccines is short, the scale advantage is obvious, and the profitability is relatively strong In addition, some insiders said that the main development direction of China's vaccine market structure in the future will be the upgrading and innovation of vaccine products, and the main products will be positioned in the three categories of pneumonia, HPV and influenza If China's vaccine enterprises further develop and expand the market around these three areas, the performance prediction will be greatly increased