\u3000\u3000 Zhejiang Nhu Company Ltd(002001) (002001)
Event: on February 11, 2022, the State Intellectual Property Office published Zhejiang Nhu Company Ltd(002001) a new method for the preparation of azabicyclic pharmaceutical intermediates. The patent application number is 202111504898.2 and the patent application publication number is cn114031542a.
Comments:
Azabicyclic patents are publicized, and the new route significantly improves the economy: the company’s azabicyclic patents involve pharmaceutical intermediates 6,6? Dimethyl? 3? Preparation method of azabicyclic [3.1.0] hexane or its derivatives (hereinafter referred to as azabicyclic). Azabicyclic is an important pharmaceutical intermediate. It is an important raw material used in the synthesis of many drugs, such as hepatitis C protease inhibitor boceprevir and oral drug for the treatment of covid-19 virus (PF? 07321332). The main breakthrough points of Zhejiang Nhu Company Ltd(002001) azabicyclic patent are as follows: 1) avoid the hydrolysis and oxidation steps of preparing carbonic anhydride, greatly shorten the preparation route, reduce the large amount of industrial wastewater and waste salt, and have high reaction yield, which is conducive to industrial large-scale production; 2) The catalyst adopts the combination of rhodium, palladium, cobalt, copper or copper salt and ligand, which greatly reduces the production energy consumption and ensures the high yield of azabicyclic products; 3) The amount of expensive catalyst is greatly reduced and the economy is significantly improved.
Break through the high barrier varieties of azabicycles, reproduce the excellent innovation ability, and constantly improve the industrial chain layout relying on the large chemical platform: the company continues to extend downstream with the help of the original product isopentenol of the large chemical platform, and layout the industrial chain of “isopentenol caronic anhydride azabicycles”. Caron anhydride is the key intermediate of Pfizer covid-19 oral small molecule drug. The multi-step reaction of Caron anhydride can be used to produce azabicycles, which can be used to produce Pfizer covid-19 oral small molecule drug. The emergence of Pfizer covid-19 oral drugs is expected to become a powerful weapon for epidemic prevention and control. In November 21, Pfizer authorized the generic drug production of the drug. After breaking through the industrial production technology of azabicycles, the company is expected to enter the field of covid-19 oral drugs, with great development potential in the future. We believe that the company’s publicity of the new aza double ring patent, on the one hand, once again highlights the company’s excellent innovation ability, on the other hand, reflects the company’s development strategy of continuously improving the industrial chain layout with the help of the “biological + chemical” dual platform. In the future, the company will rely on its excellent innovation ability to continuously usher in a large number of new varieties and have a promising development prospect.
Profit forecast, valuation and rating: we maintain the company’s profit forecast from 2021 to 2023. It is expected that the company will realize the net profit attributable to the parent company of RMB 4.472/51.03/5.732 billion respectively from 2021 to 2023, with the corresponding EPS of RMB 1.73/1.98/2.22 respectively, maintaining the “buy” rating.
Risk tip: the product price fluctuates sharply, the project production progress is less than expected, the global economic recovery is less than expected, and the patent licensing risk.
