Nmpa approved Pfizer covid-19 small molecule drugs subject to emergency conditions, obtained import registration and maintained the “optimistic” rating
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, approved the import registration of the combined packaging of nevitavir tablets / ritonavir tablets (i.e. paxlovid) of Pfizer covid-19 virus treatment drug conditionally, and required the listing license 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. We expect that China will not have the conditions for full liberalization in the short term. Considering that overseas is still a high epidemic area, and the transmission speed of mutant strains is faster and the symptoms are still more serious than influenza, the rash liberalization may lead to the consequences of run on medical hospitals, and the medical and economic costs will be much higher than the current “dynamic clearing” policy cost of “external defense input and internal defense rebound”. In the follow-up, the epidemic prevention policy may be adjusted according to the progress of overseas epidemic, the changes of toxicity and infectivity of covid-19 virus, and the actual situation of China. However, considering the use of vaccine + covid-19 specific drugs, combined with Pfizer covid-19 oral drugs, China has additional conditions to be approved. We believe that the relevant benefit sectors include covid-19 oral drugs, vaccines, cdmo and other related industrial chains, traditional Chinese medicine, medical services, etc.
Paxlovid has clear effectiveness and is expected to become an important supplement for epidemic prevention. Domestic covid-19 oral drugs have made rapid progress
Covid-19 oral medicine, as a very important means of epidemic prevention and control, is expected to make great progress in 2022. Paxlovid, as a major clinical drug in urgent need, has global clinical trials to support its effectiveness and safety data, and superimposes the advantages of patient compliance and ease of use of oral small molecule drugs. It is expected that paxlovid will become an important supplement to China’s epidemic prevention after being approved for listing in China. At the same time, for national security reasons, China is also expected to market domestic covid-19 oral drugs. At present, the enterprises with rapid progress include Shanghai Junshi Biosciences Co.Ltd(688180) and Xiansheng pharmaceutical.
Pharmaceutical manufacturing industry chain: undertaking the important task of global epidemic prevention, China Meheco Group Co.Ltd(600056) manufacturing industry chain has obvious advantages
Paxlovid has entered the commercialization stage and has a large demand for upstream intermediates and APIs. China has a mature basic chemical system and the layout of the whole pharmaceutical manufacturing industry chain, and has the ability of lower upstream raw material cost, more stable and sustainable supply. We are firmly optimistic about the investment opportunities and long-term development of the whole China Meheco Group Co.Ltd(600056) manufacturing industry chain such as cdmo, API and generic drugs, and the logic of industrial transfer is still clear.
Recommended and beneficial objects
Covid-19 oral medicine: beneficiary target: Shanghai Junshi Biosciences Co.Ltd(688180) , Xiansheng pharmaceutical.
Vaccine: beneficiaries: Cansino Biologics Inc(688185) , Chongqing Zhifei Biological Products Co.Ltd(300122) .
Pharmaceutical industry chain: beneficiaries: Porton Pharma Solutions Ltd(300363) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) .
Traditional Chinese medicine: recommended targets: Henan Lingrui Pharmaceutical Co.Ltd(600285) , Zhejiang Shouxiangu Pharmaceutical Co.Ltd(603896) , Tasly Pharmaceutical Group Co.Ltd(600535) ; Beneficiaries: Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , Jiangsu Kanion Pharmaceutical Co.Ltd(600557) , Guiyang Xintian Pharmaceutical Co.Ltd(002873) , Chinese traditional medicine, Tianjin Chase Sun Pharmaceutical Co.Ltd(300026) , gushengtang, Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) , Yunnan Baiyao Group Co.Ltd(000538) , China Resources Sanjiu Medical & Pharmaceutical Co.Ltd(000999) , Chongqing Taiji Industry (Group) Co.Ltd(600129) , Jianmin Pharmaceutical Group Co.Ltd(600976) .
Medical services: recommended subjects: Meinian Onehealth Healthcare Holdings Co.Ltd(002044) , haijiya medical, Aidi palace, Jinxin reproduction, Inkon Life Technology Co.Ltd(300143) , Guizhou Xinbang Pharmaceutical Co.Ltd(002390) , Xi’An International Medical Investment Company Limited(000516) , Ningbo Sanxing Medical Electric Co.Ltd(601567) . Beneficiaries: Aier Eye Hospital Group Co.Ltd(300015) , Topchoice Medical Co.Inc(600763) .
Risk tips: new mutant strains increase the difficulty of epidemic prevention and control, and the listing time of covid-19 oral drugs and vaccines is delayed
