Recently, Huahai Pharmaceutical announced its first-half results
.
During the reporting period, the company achieved revenue of 3.
823 billion yuan, an increase of 25.
97% year-on-year, and deducted non-net profit of 583 million yuan, an increase of 223.
83%
year-on-year.
Especially in the second quarter, the company's single-quarter revenue was 2.
051 billion yuan, up 33.
31% year-on-year; Non-net profit in a single quarter was 453 million yuan, up 1405.
26%
year-on-year.
From the overall point of view, Huahai Pharmaceutical's three major sectors of preparation export, domestic preparation sales, and APIs have driven both revenue and profit to rebound
.
Among them, it is worth mentioning that despite the impact of the global epidemic and the intensification of api price competition, in the first half of this year, Huahai Pharmaceutical's API and intermediate business achieved sales revenue of 1.
552 billion yuan, an increase of 20.
28%
year-on-year.
It is worth mentioning that at present, Huahai Pharmaceutical is also accelerating the expansion of api business
.
It is understood that in March this year, the company obtained the authorization of the pharmaceutical patent pool (MPP) of Pfizer's small molecule new crown oral drug Paxlovid, and was approved to produce Paxlovid's APIs and preparations
at the same time.
On August 18, Huahai Pharmaceutical further announced that it has signed a "Master Production and Supply Agreement" with Pfizer, and the company will provide preparation commissioned production services
for Paxlovid, a new crown therapeutic drug sold by Pfizer in the Chinese mainland market, during the agreement period (5 years).
In fact, with the increasingly fierce competition in the "Red Sea" market of APIs, coupled with the impact of the transformation from APIs to CDMO by Jiuzhou Pharmaceutical and Puluo Pharmaceutical, more and more API companies have begun to accelerate the expansion of API business and transformation and upgrading
in recent years.
Taking Puluo Pharmaceutical as an example, it started with the API intermediate business, and oral cephalosporin, oral penicillin, psychotropic, cardiovascular and cerebrovascular and veterinary API intermediate series, but its layout CDMO business has been more than 20 years
.
At present, not only has the "API + preparation integration" been realized, but also the proportion of CDMO business in total revenue is also increasing
.
According to the data, in 2021, the CDMO business achieved revenue of 1.
394 billion yuan, accounting for 15.
6% of the company's total revenue, of which foreign customers accounted for 53%, and the market was mainly distributed in North America, Europe, Japan and other countries and regions
.
In addition, in recent years, a large number of API companies are accelerating the submission of product access applications to relevant institutions in many countries to increase new growth points in
performance.
It is reported that many APIs have obtained overseas certificates
since the beginning of this year.
For example, in June, Hunan Warner Pharmaceutical Co.
, Ltd.
, a wholly-owned subsidiary of Warner Pharmaceutical Factory, said that it had received a certificate of registration of raw materials from the Ministry of Food and Drug Safety (MFDS) of The Republic of Korea, which is "Ticagrelor"
.
In general, in recent years, due to the impact of policies such as collection and strict environmental protection, the business model of domestic API companies is undergoing significant and profound changes
.
In this context, many pharmaceutical companies will either continue to focus on the field of APIs and expand more product pipelines; Or cut into the downstream preparation market to achieve "API + preparation integration"; Or rely on its rich large-scale production experience and cost control capabilities to undertake more CMO/CDMO orders, improve profitability, and transform
to CDMO.
Among them, it is worth noting that in the face of the CDMO industry showing good growth prospects, more and more API companies are choosing to pour into the CDMO track
.
At present, the listed companies engaged in the "API+ CDMO" business in the A-share market have included Jiuzhou Pharmaceutical, Puluo Pharmaceutical, Notai Biological, Hepalink, Meinova, Tianyu Shares, Fuxiang Pharmaceutical, Aoxiang Pharmaceutical, Jianyou Shares, Stellite, etc
.
