Industry update
Pfizer paxlovid obtained conditional approval in China. On February 11, the State Food and Drug Administration conducted emergency review and approval in accordance with the relevant provisions of the drug administration law and the special drug approval procedures, and approved the import registration of the combined packaging of nevitavir tablets / ritonavir tablets (i.e. paxlovid) of Pfizer covid-19 virus treatment drug conditionally. Paxlocid is an oral small molecule COVID-19 virus therapy for the treatment of mild to moderate New Coronavirus pneumonia (COVID-19) in adults with severe risk factors, such as elderly, chronic kidney disease, diabetes, cardiovascular disease, and chronic lung disease. The State Food and drug administration requires the listing permit holder to continue to carry out relevant research work, complete the conditional requirements within a time limit, and submit the follow-up research results in time.
Covid-19 epidemic continued to recur worldwide. The global new cases began to callback at the end of January, the number of hospitalized patients decreased accordingly, and the number of deaths increased laggardly, but the mortality remained within 1%. The global vaccination rate rose to 62%, and the average vaccination rate of booster injection was close to 15%. The proportion of Omicron in the world has risen to 79%, which is the mainstream strain at present.
Brief comment
The normalization of the epidemic situation and the expectation of influenza are optimistic about the volume of oral covid-19 drugs. Vaccine, neutralizing antibody and oral covid-19 drugs work together to normalize the epidemic and influenza. Based on the therapeutic mechanism, accessibility and economy of oral drugs, we continue to be optimistic about the application prospect of oral small molecule covid-19 drugs.
A number of domestic and foreign oral covid-19 drugs are about to enter the mass production stage: ① the original research supply chain continues to increase the supply chain; ② Through the equity grant of MPP platform, generic pharmaceutical enterprises and supply chain enterprises obtain the rights and interests of generic pharmaceutical production and sales; ③ The layout of covid-19 oral drugs in China is rich, and the research and development is gradually promoted.
With the continuous improvement of epidemic detection and prevention means, the epidemic control outside China has gradually entered the normalization trend. The demand for epidemic detection and prevention sectors (vaccines, neutralizing antibodies and oral drugs, including Chinese patent medicines) continues to increase. The relevant sectors such as in-hospital diagnosis and consumer medicine damaged during the epidemic are expected to gradually recover.
Investment advice
It is suggested to pay attention to the detection, killing and prevention of the epidemic (vaccines, neutralizing antibodies and oral drugs), as well as the in-hospital diagnosis and treatment and consumer medical treatment on the main line of epidemic recovery.
It is recommended to pay attention to Wuxi Apptec Co.Ltd(603259) , Porton Pharma Solutions Ltd(300363) , Brightgene Bio-Medical Technology Co.Ltd(688166) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , etc.
Risk tips
Covid-19 epidemic development and change risk, product R & D data and progress are less than expected risk, product capacity and sales are less than expected risk, government orders are less than expected risk, policy risk, etc.
