In the process of transformation from enterprise standard products to national standard and provincial standard products, the standard improvement leads to costs, and the gross profit margin level has declined to a certain extent
.
The industry said that with the gradual promulgation and implementation of the new standard and the steady progress of the company's filing, the future development prospects of traditional Chinese medicine formula granules will be very broad
.
In addition, some people said that the launch and implementation of the national standard has put forward higher requirements for the production capacity and reserve varieties of formula granule manufacturers, which will be more conducive to those enterprises with long-term accumulation in formula granules, such as Red Sun Pharmaceutical, China Resources Sanjiu, etc
.
Taking Red Sun Pharmaceutical as an example, as an early batch of enterprises producing Chinese medicine formula granules, there are more than 600 kinds of granule products, which basically cover the varieties with high clinical use frequency of traditional Chinese medicine, and basically form a barrier advantage
in product types, production processes, quality control and other aspects.
It is reported that the annual sales scale of the intelligent manufacturing base of traditional Chinese medicine formula granules invested 750 million yuan by Hongri Pharmaceutical is expected to exceed 3 billion yuan after completion, which is the eighth production base
of traditional Chinese medicine formula granules continuously built by Hongri Pharmaceutical in China.
Data show that in 2021, the revenue of Hongri Pharmaceutical's traditional Chinese medicine formula granule business will be 4.
23 billion yuan, accounting for 55.
2% of the company's total revenue, which is the company's core business segment
.
However, in the past two years, with the end of the pilot and the advancement of the work of switching the national standard, the market pattern of traditional Chinese medicine formula granules has undergone some changes
.
The industry pointed out that since the fourth quarter of last year, the market of traditional Chinese medicine formula granules has begun to be affected by the switch of national standards, and traditional Chinese medicine formula granules have been upgraded from enterprise standards to provincial standards and national standards, and the industry has begun to have a short "chaotic period", and the performance of related enterprises has declined
.
For example, the above-mentioned Red Sun Pharmaceutical, in the first three quarters of 2022, achieved operating income of 4.
9 billion yuan, a year-on-year decrease of 10.
68%; The net profit attributable to the shareholders of the listed company was 470 million yuan, a year-on-year decrease of 26.
15%.
The business revenue of the former provincial pilot enterprises Shenwei Pharmaceutical and Zuoli Pharmaceutical has increased significantly, of which the revenue of formula granules of Sunway Pharmaceutical in the first half of the year was 469 million yuan, a year-on-year increase of 45.
65%, and the revenue of Zuoli Pharmaceutical in the first half of the year was 217 million yuan, a year-on-year increase of 50.
69%.
However, with the recognition of national standards and the inclusion of medical insurance, some institutions expect that the market of traditional Chinese medicine formula granules may grow into a large market
of hundreds of billions of dollars.
For example, China Resources Sanjiu recently said in a survey of specific objects that the formula granule business will strive to achieve positive growth this year, and it is expected that next year's formula granule business will achieve rapid growth
on the basis of this year's low base.
CR 39 expects that by the end of the 14th Five-Year Plan, the company will double
its operating income.
It is understood that after the end of the pilot, the application scope of traditional Chinese medicine formula granules has increased significantly, and the market coverage has been greatly expanded
.
A securities research report pointed out that from 2016 to 2020, the market size of traditional Chinese medicine formula granules increased from 10.
7 billion yuan to 25.
5 billion yuan, with a compound growth rate of 24.
25%
in the past five years.
It is expected that the market for traditional Chinese medicine formula granules is expected to grow rapidly for a long time, with a replacement rate of about 50%, which will open up a market of
100 billion.
It is reported that a number of listed companies have laid out the Chinese medicine formula granule market, including Yibai Pharmaceutical, Zhenbao Island, Jilin Aodong, Taiji Group, Xiangxue Pharmaceutical, Yiling Pharmaceutical, Jingjing Pharmaceutical and many other enterprises
.
It is reported that at present, a number of pharmaceutical companies have begun to act as agents for investment
.
With the support of policies, the Chinese medicine industry has stood on the forefront of development, and Chinese medicine formula granules are the new favorite
for the future development of Chinese medicine.
The introduction of the national standard has put forward higher requirements for the production of formula granules, and enterprises need to improve their technical level to ensure that their products meet national standards, which requires a lot of cost and time
.
The industry believes that the head enterprise has accumulated rich experience in the production of formula granules in the long-term pilot process, and has advantages in technical level, which can efficiently produce more varieties of formula granules; At the same time, leading enterprises widely participate in the formulation of national standards, which essentially raises the threshold for industry competition and prolongs the entry time of new enterprises, thereby gaining more first-mover advantages and improving market competitiveness
.
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