This pharmaceutical company's APIs are accelerating to sea! The company expects annual revenue of 740 million yuan

【Pharmaceutical Network Enterprise News】On November 28, Tonghe Pharmaceutical, a leading enterprise of high-end characteristic APIs, issued an announcement that the company recently received the gabapentin drug registration certificate (expiration review) issued by the Indian Drug Control Department (DCGI).

The company's product Gabapentin API has once again obtained the Indian Drug Registration Certificate, marking that the company's Gabapentin API continues to obtain the access qualification
of the Indian market.
It is reported that gabapentin is a derivative of γ-aminobutyric acid (GABA), which is clinically used for the treatment
of neuralgia after herpes infection and epilepsy.
Tonghe Pharmaceutical focuses on providing high-quality, high-barrier API products, the main varieties have DMF documents, and through multi-regional GMP inspection, with patented API rapid follow-up capabilities, the company actively expands the sales of products in the domestic market, forming a good pattern
of synchronous sales in domestic and foreign markets 。 According to the third quarterly report of 2022, the company achieved revenue of 528 million yuan in the first three quarters, a year-on-year increase of 23.
4%; the net profit attributable to the parent was 74.
49 million yuan, a year-on-year increase of 11.
9%; net profit of non-attributable parent was 723.
9 billion yuan, a year-on-year increase of 12.
1%; Net operating cash flow was RMB141 million, up 40.
5%
year-on-year.
In terms of specific operating conditions, the company said that the tight export transportation and shipping and soaring freight rates have basically returned to normal in the third quarter; The company's export-oriented API industry with contracts in US dollars is more advantageous; Raw material prices have generally declined in the first three quarters compared with last year, and have been generally stable
recently.
Domestic sales maintained continuous growth, but the proportion of domestic sales in statistical caliber fell to a certain extent; New product patents are expiring worldwide, and sales have increased significantly; The delivery of CMO/CDMO projects this year is relatively intensive in the fourth quarter, and new projects have not yet begun to be released; The export business of old products grew steadily on the whole
.
The company expects that the annual sales revenue in 2022 will reach 740 million yuan, of which domestic sales will reach 200 million yuan, accounting for 26.
33%; Customized products more than
110 million yuan.
In addition, Tonghe Pharmaceutical had previously predicted that its API revenue compound annual growth rate is expected to maintain 30% from 2021 to 2026, and the CDMO business provides performance flexibility, and according to production capacity estimates, the company's revenue is likely to exceed 2-2.
5 billion yuan
in 2025.
On November 20 this year, the company said in the investor relations activity record form that it expects the company's sales revenue to reach 2.
5 billion yuan
by 2025.
In order to achieve the profit target, Tonghe Pharmaceutical actively expanded production, and in May, the company replied to the investment on the interactive platform, saying that at present, 2 of the 4 workshops in the first phase of the company's second plant are already in trial production, and the other 2 are still in the debugging stage
.
The second phase will build seven synthesis workshops and an R&D building, which is expected to be officially put into operation
in the second quarter of 2024.
After all 4 workshops in the first phase and 7 workshops in the second phase are put into operation, they can cover all 17 products in the second echelon, and the output value is expected to be about
1.
5 billion by 2025.
It is conservatively estimated that by 2025, the company's first plant plus the first and second phases of the second plant will have a total output value
of about 2.
3 billion yuan in APIs and CMO/CDMO projects.
In September, the company once again updated the progress of the API production line on the interactive platform, indicating that all the company's API products are small molecule APIs
.
The production line under construction by the company is the first phase of the second plant, 2 workshops have been trial production, 2 workshops are undergoing final automation device commissioning, and will soon enter trial production
.
After the production line of the first phase of the second plant project is officially put into operation, the company's production capacity of tiglilo, vildagliptin, azilsartan, miraberon, apixaban, edoxaban, vonorazan, empagliflozin, capagliflozin and other varieties will be greatly expanded to meet the capacity demand
of the above varieties after the expiration of global patents.
Disclaimer: Under no circumstances does the information or opinions expressed herein constitute investment advice
to anyone.