Centralized purchase policy tracking
On January 10, Premier Li Keqiang presided over the executive meeting of the State Council. The meeting pointed out that it was decided to carry out the centralized procurement of drugs and high-value medical consumables in a normalized and institutionalized manner. By the end of this year, the national and provincial centralized procurement of drugs will reach more than 350 in each province.
On January 21, the state organized the joint drug procurement office to issue the seventh batch of volume reporting documents of national procurement medical institutions to all medical institutions, requiring the volume reporting to be officially started on January 26 and submitted to the joint procurement after the completion of the volume Reporting Review by all provinces on February 25.
On January 24, Jilin provincial drug procurement center issued the “notice on publishing the bid winning results of the first and third batch of bidding renewal projects of selected drugs in Jilin Province after the expiration of the centralized drug procurement agreement organized by the state”. The renewal prices of 8 national varieties increased by 6% – 126%.
Brief comment
The seventh batch of national reports involves 58 varieties, and large varieties and injections have attracted attention. Among the 58 varieties, there are about 18 large varieties with a market scale of more than 1 billion; There are 27 kinds of injections, accounting for 46.5%. The national centralized procurement began to explore the centralized procurement of injections from the fourth batch. It is expected that with the promotion of the consistency evaluation of injections, injections and oral dosage forms will become equal in front of the centralized procurement policy.
There are more than 10 enterprises that have passed the evaluation of some products, and the centralized procurement competition is fierce. Omeprazole injection is the most evaluated product, and 24 generic drugs have been evaluated. In addition, more than 10 generic drugs such as propofol tenofovir oral normal release dosage form, clindamycin phosphate injection, cefixime oral normal release dosage form and nifedipine sustained / controlled release dosage form have also been evaluated.
More than 5 varieties of 11 foreign enterprises have been included in the documents of centralized purchase and reporting. Qilu Pharmaceutical (13 varieties) is the most included in this round of national collection and reporting. Enterprises with five or more varieties included in the centralized purchase report also include Sichuan Kelun Pharmaceutical Co.Ltd(002422) , Zhengda Tianqing, stone Pharmaceutical Group, Chengdu Beite, Jiangsu Haosen, Luoxin Pharmaceuticals Group Stock Co.Ltd(002793) , Chengdu Yuandong, Pfizer pharmaceutical, Jiangsu Beijing Aosaikang Pharmaceutical Co.Ltd(002755) , Jiangsu Hengrui Medicine Co.Ltd(600276) .
The centralized procurement is normalized and institutionalized, and the goal of expanding the centralized procurement of drugs is in line with expectations. The national Standing Committee proposed that by the end of this year, the national and provincial centralized procurement of drugs will reach more than 350 in each province. At present, 234 varieties have been involved in national centralized mining, and with 58 varieties reported in the seventh batch of centralized mining, a total of 292 varieties have been involved in national centralized mining. Considering the normalization of national centralized procurement twice a year and the supplement of provincial centralized procurement to national centralized procurement, we believe that the goal of expanding the scope of drug centralized procurement is in line with our expectations.
The renewal of centralized purchase contract allows price increase, and the enterprise is expected to retain reasonable profits and maintain long-term stable supply. The national Standing Committee proposed to ensure the long-term and stable supply of selected drugs and ensure that the prices of selected products do not degrade. In the renewal of the first batch and the third batch of centralized purchase expiration bidding in Jilin Province, the winning price of some products also increased by 6% – 126%. In the letter on follow-up work after the expiration of the agreement on centralized drug procurement organized by the state, issued by Shaanxi medical insurance bureau last October, it is also pointed out that the price of the selected products is allowed to rise appropriately when the contract is renewed. The mechanism of allowing price increase in contract renewal is conducive to enterprises to retain reasonable profit space and maintain long-term stable supply.
Investment advice
It is suggested to pay attention to pharmaceutical enterprises and integrated enterprises of API preparations. It is suggested to pay attention to: Stone Pharmaceutical Group, Zhe Jiang Hua Hai Pharmaceuticalco.Ltd(600521) , Apeloa Pharmaceutical Co.Ltd(000739) , China biopharmaceutical, etc.
Risk tips
The risk of expanding the scope of centralized purchase, the risk that the price reduction of centralized purchase exceeds the expectation, the risk that the product supply is less than the expectation after winning the bid, and other policy and market risks.
