Key points
Market review: last week, the A-share pharmaceutical and biological index rose 1.71%, outperforming the Shanghai and Shenzhen 300 index by 3.38pp and the gem composite index by 0.33pp, ranking 6 / 28. The performance was good, mainly due to the rebound of the medical service sector. The Hang Seng health index of Hong Kong stocks closed down 1.22% last week, outperforming the Hang Seng state-owned enterprise index by 5.18pp, ranking 1 / 11.
Tracking of R & D Progress of listed companies: last week, ebergostine of Yiyi biology α The marketing application of gumeitinib for injection and xuantai pharmaceutical is newly undertaken, the clinical application of shr-8068 injection of Jiangsu Hengrui Medicine Co.Ltd(600276) hlx26 monoclonal antibody injection of Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) and slolizumab injection is newly undertaken, and the ind application of hs-10386 tablets of hausen pharmaceutical is newly undertaken Hualan Biological Engineering Inc(002007) ‘s tetravalent influenza virus split vaccine injection is undergoing phase IV clinical treatment; The tetravalent influenza virus split vaccine injection of Kexing biology is undergoing phase III clinical treatment; Shengsi biological recombinant human coagulation factor VIII Fc fusion protein injection is in phase II clinical practice; The tqb2858 injection of Zhengda Tianqing, Jiangsu Hengrui Medicine Co.Ltd(600276) pyrrolidinib maleate tablets and Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) fh-2001 capsules are undergoing phase I clinical trials.
This week’s view: the two sessions will be held soon, and policies will guide the high-quality development of key areas of medicine
The national two sessions in 2022 will be held in Beijing on March 5, which has attracted much attention from all walks of life. Looking back on the government work reports and policy proposals of the national two sessions from 2019 to 2021, we find that the state seeks higher quality development in the field of medicine through a series of policies, including comprehensively deepening medical reform, strengthening the construction of public health system, “one old and one young” disease prevention and treatment, and promoting the development of traditional Chinese medicine, which are also reflected in the capital market. In our view, this year can still focus on areas such as health care system building, the prevention and treatment of the major diseases that “one is the one for one, one is the one for all,” and the development of traditional Chinese medicine this year, and we still think that we can still focus our attention this year. We can still focus on areas such as health care system building, the prevention and treatment of the big big diseases that “the one for all” major diseases that are the one for all, and the development of traditional Chinese medicine, with recommendations for Shandong Wit Dyne Health Co.Ltd(000915) Shandong Wit Dyne Health Co.Ltd(000915) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Henan Lingrui Pharmaceutical Co.Ltd(600285) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , etc.
Investment strategy in 2022: know the constant changes, keep the right and innovate. Based on the changes and invariance of pharmaceutical investment, we believe that we should actively grasp the investment opportunities in the direction of innovation and internationalization in the future. In terms of innovative drugs and vaccines, Xinda Biology (H) and Rongchang Biology (H) are recommended; In terms of CXO, Yao Mingsheng (H), Pharmaron Beijing Co.Ltd(300759) , Shanghai Haoyuan Chemexpress Co.Ltd(688131) , Pharmablock Sciences (Nanjing) Inc(300725) ; In the field of equipment and Life Sciences, recommend Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , minimally invasive medical (H), Shinva Medical Instrument Co.Ltd(600587) , Amoy Diagnostics Co.Ltd(300685) , Iray Technology Company Limited(688301) ; In terms of innovative cutting-edge technologies, pay attention to unlisted enterprises such as Aibo biology; For domestic consumption, we recommend Jinxin reproduction (H), Lbx Pharmacy Chain Joint Stock Company(603883) , Shandong Wit Dyne Health Co.Ltd(000915) , Boya Bio-Pharmaceutical Group Co.Ltd(300294) .
Risk analysis: price reduction risk of drugs / consumables; Industry “black swan” event; Risk of R & D failure.
