What's the difference between biopharmaceutical and Hansen pharmaceutical in China?

There is no doubt that China biopharmaceutical and Hansen pharmaceutical are one of the most successful Chinese pharmaceutical enterprises, both of which are listed on the Hong Kong stock exchange with a market value of over 100 billion As of October 21, 2019, their market values are 141.241 billion HK $and 155.424 billion HK $respectively It is worth noting that the directors of both enterprises are women As a leading pharmaceutical enterprise in the successful transformation, the author now takes you to decipher the structural differences of the product line after listing Data source: the Mid-term Financial Statements of enterprises are the same or similar 1 Anti tumor is an important source of income and key distribution areas China's biopharmaceutical and Hansen pharmaceutical are both important sources of income, accounting for 20% and 40% respectively The former is mainly developed and produced by Zhengda Tianqing and Nanjing Zhengda Tianqing The sales of letitrexed injection is about 344 million, an increase of 54.2% year on year Several other major tumor drugs, dasatinib and imatinib, all exceeded 100 million yuan, which shows that the product structure of China's biopharmaceutical anti-tumor field is reasonable and the growth rate is good Hanson is mainly focused on the treatment of incidence rate of solid tumors, such as lung cancer, breast cancer and hematological malignancies The main products are imatinib mesylate tablets, pemetrexed disodium for injection and gemcitabine hydrochloride for injection 2 China's biopharmaceutical industry is comparable to Pfizer in the field of multi treatment There are up to ten fields of biopharmaceutical treatment in China, covering liver disease, anti-tumor, cardio cerebral vascular, analgesia, orthopedics, digestive system, respiratory system, anti infection, parenteral nutrition and diabetes The treatment field is as rich as that of Pfizer in that year, covering 14 treatment fields (including diabetes, immune and hormone fields promoted by haizhenghui) Pharmexec magazine of the United States announced the top 50 global pharmaceutical enterprises in 2019, with China's biopharmaceutical ranked 42, ranking first among Chinese pharmaceutical enterprises It is believed that the rich product line layout of China's biopharmaceutical industry will continue to lead the global trend of Chinese pharmaceutical enterprises and become China's "Pfizer pharmaceutical" Hansen pharmaceutical also did not fall behind Its products cover six treatment areas, namely anti-tumor, central nervous system disease, anti infection, digestion, diabetes and cardiovascular disease It is worth mentioning that these six treatment areas occupy 62.5% of the market share of China's pharmaceutical market 3 The five treatment areas overlap and the competition is fierce After combing, the author found that the anti-tumor, anti infection, cardio cerebrovascular, digestion and diabetes layout of China biopharmaceutical and Hansen pharmaceutical overlap, which proves that these five treatment areas or the future important layout direction In particular, imatinib is the head to head competition As the first generic drug, Hansen pharmaceutical's sales exceeded 300 million in 2018, and maintained a growth of more than 30% China's biopharmaceutical industry is the first one to pass the consistency evaluation The product has exceeded 100 million in mid-2019, an increase of 5.2% year on year In the field of anti infection, biapenem for injection and linezolid for injection are the main biopharmaceuticals in China The main products of Hansen pharmaceutical are tegacyclin for injection, micafungin for injection and linezolid glucose injection Only from the product line, it seems that Hansen pharmaceutical is better than others In competition with Pfizer, linezolid, which is used to treat resistant Staphylococcus aureus, is the key product of both Data source: different or different Mid-term Financial Statements of enterprises 1 The income of China biopharmaceutical is 2 times of that of Hansen pharmaceutical The income of China biopharmaceutical in the mid-term report 2019 is 12.527 billion, which belongs to the top three listed companies in China Hansen pharmaceutical, as a rising star in this year's IPO, has a revenue of 4.599 billion in the mid-2019 report, which belongs to the second group of enterprises However, its outstanding IPO ensures its market value to be among the top three listed pharmaceutical enterprises in China 2 The traditional advantage of Biopharmaceutics in China is liver disease, and Hansen pharmaceutical is the central nervous system Biopharmaceutics in China can be called the "first brother" in the field of liver disease, with a variety of therapeutic drugs such as liver protection, anti liver virus, etc Only magnesium isoglycate injection sold 1.7 billion yuan in 2018, and it still keeps a growth rate of more than 5% Hansen pharmaceutical is the largest in the field of central nervous system, with a market share of 9.2% and olanzapine sales of more than 1.7 billion in 2018 From the ranking of Hansen pharmaceutical's official website, we can see that the revenue of central nervous system is the second largest revenue source of the company, but the product value ranks first in the company, which shows Hansen pharmaceutical's preference in this field Photo source: screenshot of the official website of Hansen pharmaceutical 4 Hansen pharmaceutical has a higher concentration, and the proportion of revenue in three treatment areas is as high as 85% In terms of product income concentration, Hansen pharmaceutical has a higher income concentration, accounting for 85% of the total income of anti-tumor, central nervous system and anti infection system drugs; while in China, biopharmaceuticals mainly include liver disease drugs, anti-tumor drugs and cardiovascular and cerebrovascular drugs, accounting for nearly 60% of the total income of the enterprise It is worth noting that at present, there are frequent medical policies, and the risk will be higher when the treatment field is too concentrated; for more than one billion varieties, the large field will be cut down by the policy in the future, so as to maintain the reasonable and orderly competition of each enterprise Thus, Hansen pharmaceutical products are too single Especially in the field of diabetes, digestion and cardiovascular, the official website shows that there is only one product in each field Even if there is no BD product or R & D new product in the future, the competitive advantage in this field is difficult to reflect At this point, China's biopharmaceutical industry is better than others No matter which field of treatment is a group operation, the product's strategic combination strategy is successful The summary is also for the Chinese pharmaceutical enterprises that have broken through 100 billion yuan The strategic layout of the two enterprises is clear, the treatment field is relatively rich, and they already have the rudiments of multinational pharmaceutical enterprises However, biopharmaceutical products in China show reasonable structure and rich product lines, which are more competitive internationally in terms of maturity In the future, biopharmaceutical companies in China will also become representatives of internationalization The success of Hansen pharmaceutical lies in that it has successfully transformed from a single treatment field to a diversified treatment field before China's medical reform enters the deep water area, providing a better reference for pharmaceutical enterprises in strategic transformation Statement: this opinion only represents the author, not the position of yaozhi.com, welcome to exchange and supplement in the message area; if you need to reprint, please be sure to indicate the author and source of the article.