This collection catalogue contains 58 varieties, covering many fields, such as anti infection, anti tumor, digestive tract, diabetes, cardiovascular, nervous system and so on, and drug coverage areas continue to expand. Injections have entered the core scope of centralized purchase, and the catalogue varieties tend to be comprehensive and refined. A number of heavy varieties are highly competitive and are expected to usher in a higher decline. With the centralized procurement entering a new stage of “accelerating and expanding”, innovative drugs and high barrier generic drugs deserve attention.
The centralized procurement catalogue has been returned to the field of chemical drugs, and the coverage of drugs has been steadily expanded. On February 17, Shanghai Sunshine pharmaceutical procurement network released the notice on filling in the information of the seventh batch of drugs related to centralized drug procurement organized by the state, and the seventh batch of national centralized drug procurement was officially launched. After the Sixth Batch of centralized purchase for insulin, the types of drugs purchased in the Seventh Batch returned to the field of chemical drugs purchased in the previous five times. This collection catalogue contains 58 varieties, which are fifth times centralized, covering many fields, such as anti infection, anti tumor, digestive tract, diabetes, cardiovascular, nervous system and so on. The field of drug coverage continues to expand.
Injections have entered the core scope of centralized mining, and the catalogue varieties tend to be comprehensive and refined. This centralized purchase catalogue includes 28 injection varieties, accounting for 50%. The injection has entered the core scope of centralized purchase and is expected to maintain a high proportion in the future (the number of injection varieties in the first five batches of centralized purchase is 3, 1, 3, 8 and 30 respectively). In addition, there are 10 catalogue varieties in this time, which are different dosage forms or different specifications of the previously collected varieties, such as omeprazole injection (corresponding to the third batch of omeprazole enteric coated capsules), metoprolol sustained-release dosage form (corresponding to the fifth batch of metoprolol oral normal release dosage form), palonosetron injection (New 5ml: 0.25mg specification), The supplement of these new dosage forms and new specifications makes the varieties covered by centralized collection tend to be comprehensive and refined.
A number of heavy varieties are highly competitive, and it is expected that their centralized purchase prices will usher in a higher decline. The catalogue of this centralized purchase includes several heavyweight drugs in different fields, such as omeprazole in the field of digestive tract, meropenem in the field of anti infection, nifedipine in the field of cardiovascular and irinotecan in the field of anti-tumor. In 2020, the sales of sample hospitals (according to the data of wind Medicine Library) reached 2.133 billion yuan, 2.130 billion yuan, 841 million yuan and 742 million yuan respectively. Accordingly, the larger market scale also brings fierce competition, such as omeprazole, nifedipine, clindamycin, propofol tenofovir, cefixime and edaravone. The number of evaluated manufacturers reaches 24, 14, 14, 13, 12 and 10 respectively. It is expected that under the fierce competition, the centralized purchase prices of many heavy products will usher in a higher decline.
Centralized mining has entered a new stage of “accelerating and expanding”, and innovative drugs and high barrier generic drugs deserve attention. On February 11, the Information Office of the State Council held a regular policy briefing of the State Council to introduce the progress of deepening the reform of centralized procurement of drugs and high-value medical consumables. According to the meeting, the reform of centralized belt procurement has entered a new stage of normalization and institutionalization. The “speed-up and expansion” proposed at the executive meeting of the State Council will become the main theme of the future reform of belt procurement, including the speed-up of varieties, the expansion of areas covered by centralized mining, the expansion of areas covered by centralized mining, and so on. With the continuous deepening of the national centralized mining reform, the market expectation is gradually stable, and the subsequent impact on the market is expected to gradually weaken. Heavy varieties of generic drugs with high purchase amount will no longer be the profit growth point of pharmaceutical enterprises. Innovative drugs and high barrier generic drugs have become the development core of pharmaceutical enterprises to enhance their competitiveness.
Risk factors: the price reduction of drugs leads to the reduction of enterprise profits; Risk of decline in sales of unsuccessful varieties.
Investment strategy. It is suggested to pay attention to: leading pharmaceutical enterprises Jiangsu Hengrui Medicine Co.Ltd(600276) , Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) , Hansen pharmaceutical, stone Pharmaceutical Group, Livzon Pharmaceutical Group Inc(000513) with rich R & D pipelines and mature commercial construction, and pharmaceutical companies Baiji Shenzhou, Xinda biology, Shanghai Junshi Biosciences Co.Ltd(688180) , Tianjing biology, nuocheng Jianhua, Shanghai Allist Pharmaceuticals Co.Ltd(688578) driven by innovative R & D and leading international layout.
