Event: on February 19, 2022, the joint prevention and control mechanism of the State Council held a press conference. The National Health Commission has begun to deploy sequential enhanced immunization. For the target population over the age of 18 who have been vaccinated with the inactivated vaccines of Sinopharm Zhongsheng Beijing company, Beijing Kexing company and Sinopharm Zhongsheng Wuhan company for 6 months, one dose of secondary homologous enhancement can be selected, Or select Chongqing Zhifei Biological Products Co.Ltd(300122) recombinant protein vaccine or Cansino Biologics Inc(688185) adenovirus vector vaccine for sequential booster vaccination. In addition, the joint prevention and control mechanism of the State Council approved Shenzhen Kangtai Biological Products Co.Ltd(300601) and the homologous enhanced immunization of covid-19 virus inactivated vaccine in the Institute of biology of the medical college.
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The sequential vaccination of covid-19 in China was approved to further improve the titer of neutralizing antibody
On October 3, 2021, China began to launch covid-19 vaccine booster free vaccination. People over 18 years old who have been vaccinated with inactivated vaccine and Cansino Biologics Inc(688185) adenovirus vector vaccine of Sinopharm Zhongsheng Beijing company, Beijing Kexing company and Sinopharm Zhongsheng Wuhan company for 6 months can choose to receive the same dose of vaccine, which is homologous vaccination. On February 19, 2022, the national joint prevention and control approved the deployment of sequential enhanced immunization, that is, heterologous vaccination. For people over 18 years old who have been vaccinated with inactivated vaccines of Sinopharm Zhongsheng Beijing company, Beijing Kexing company and Sinopharm Zhongsheng Wuhan company for 6 months, they can choose to vaccinate one dose of Chongqing Zhifei Biological Products Co.Ltd(300122) heavy histone vaccine or Cansino Biologics Inc(688185) adenovirus vector vaccine. There are two combinations of sequential reinforcement, namely “inactivated vaccine (2 doses) + recombinant protein vaccine (1 dose)” and “inactivated vaccine (2 doses) + adenovirus vector vaccine (1 dose)”. At present, 10 countries or regions overseas have approved heterologous immunization, including Argentina and Chile, which use adenovirus vector vaccine for booster immunization, and Indonesia, which uses recombinant protein covid-19 vaccine for booster immunization.
The neutralizing antibody titer of covid-19 vaccine was significantly increased after sequential vaccination. According to the clinical research of Jiangsu CDC, the vaccinators were vaccinated with two doses of inactivated vaccine and then one dose of adenovirus vector covid-19 vaccine. After 14 days, the neutralizing antibody GMT was 197.4, about 78 times higher than the premise of the third dose; If the third dose of inactivated vaccine is injected, the antibody level is 33.6, which is about 15.2 times higher than the premise of the third dose. According to the clinical trial data of Zhang Wenhong’s team in Huashan Hospital, the vaccinators were vaccinated with two doses of inactivated vaccine and then one dose of recombinant protein covid-19 vaccine. After 14 days, the neutralizing antibody titer increased from 18.19 to 9157.83, an increase of about 503.47 times.
China’s enhanced immunization is free, with a potential demand of about 729 million people
As of February 15, 2022, China had received about 3.057 billion doses of covid-19 vaccine, and the total number of vaccinations was 1.267 billion, including 1.231 billion people who had completed the whole course of vaccination, and about 502 million people who had completed the third booster vaccination. The demand for the third booster covid-19 vaccine in the future was about 729 million, accounting for 59% of the basic immunization. At present, sequential vaccination is the same as homologous vaccination, which is free of charge. It is preferred to be implemented in key areas such as ports and borders. Other people carry out sequential and enhanced vaccination according to needs. We expect that manufacturers of covid-19 vaccine for the third injection will be in a competitive state.
Investment suggestion: after the sequential vaccination of covid-19 vaccine is approved, China will accelerate the vaccination, and covid-19 vaccine will continue to contribute to the performance. It is suggested to pay attention to the related targets: Chongqing Zhifei Biological Products Co.Ltd(300122) , Cansino Biologics Inc(688185) and Shenzhen Kangtai Biological Products Co.Ltd(300601) .
Risk tip: the risk of covid-19 vaccine price decline, the vaccination rate is lower than expected, and the global epidemic control is lower than expected.
