Industry perspective
From January to February 2022, the issuance batches of major varieties of blood products in China basically increased steadily or steadily. The vaccine industry has issued 398 batches in total, and varieties such as HPV vaccine still maintain rapid growth.
Blood products: the number of albumin issuing batches was basically stable, and the number of intravenous C batches increased steadily. From January to February 2022, China's albumin was issued 524 times (- 2.78%), and imported albumin was issued 312 times (- 1.89%); Jing C was issued 144 times (+ 8.27%). From the perspective of listed companies, Beijing Tiantan Biological Products Corporation Limited(600161) human albumin was issued 58 times (- 6%); Intravenous injection of human immunoglobulin was issued 34 times (- 15%) Hualan Biological Engineering Inc(002007) human albumin batch issued 28 times (+ 87%); Intravenous injection of human immunoglobulin was issued 16 times (+ 129%) Shanghai Raas Blood Products Co.Ltd(002252) human serum albumin batch issued 20 times (- 17%); Intravenous injection of human immunoglobulin was issued 18 times (+ 100%) Boya Bio-Pharmaceutical Group Co.Ltd(300294) human serum albumin was issued 13 times (- 32%); Intravenous injection of human immunoglobulin was issued 9 times (+ 13%); Human fibrinogen was issued seven times (+ 17%) Pacific Shuanglin Bio-Pharmacy Co.Ltd(000403) human serum albumin batch issued 10 times; Human immunoglobulin was injected intravenously for 8 times (- 33%) Shenzhen Weiguang Biological Products Co.Ltd(002880) human serum albumin batch issued 4 times (- 20%); Human immunoglobulin was injected intravenously for 5 times.
Vaccine: HPV vaccine still shows a rapid upward trend. From January to February 2022, China's vaccine industry issued a total of 398 batches Chongqing Zhifei Biological Products Co.Ltd(300122) nine valent HPV vaccine was issued 18 times in batches, and there was no batch issued in the same period last year; Four price HPV batches were issued for 7 times (+ 40%) Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) HPV vaccine was issued 43 times (+ 438%) Walvax Biotechnology Co.Ltd(300142) 13 valent pneumonia conjugate vaccine was issued 7 times (- 30%) Changchun Bcht Biotechnology Co(688276) varicella live attenuated vaccine was issued 11 times (- 45%) Chengdu Olymvax Biopharmaceuticals Inc(688319) tetanus vaccine was issued three times (- 67%) Chengdu Kanghua Biological Products Co.Ltd(300841) human diploid rabies vaccine was issued 12 times (+ 140%). Pfizer13 valent pneumonia conjugate vaccine was issued once (- 90%).
Investment advice
The recovery trend of the blood products industry in the post epidemic era is obvious. Since 2022, the issuance batches of albumin batches have been basically stable, the issuance batches of static C batches have increased steadily, and the industry as a whole has shown a continuous warming trend. At present, the situation of epidemic prevention and control in China is generally good, and the paddle collection, plasma feeding and production supply of Chinese blood products manufacturers have continued to pick up, The foundation for the steady development of blood products industry is still solid. It is suggested to pay attention to the head manufacturers with greater flexibility in plasma collection and supply in the future.
In February, with the approval of the joint prevention and control mechanism of the State Council, the National Health Commission began to deploy sequential immunization. Combined with the promotion of homology enhancement of covid-19 vaccine and the use of covid-19 oral small molecule drugs, it is expected to further control the epidemic in China. Conventional vaccines have consumption properties and are expected to usher in large quantities in the future. It is suggested to focus on the high-volume rhythm of large varieties such as HPV vaccine, 13 valent pneumonia conjugate vaccine and human diploid rabies vaccine.
Key companies
Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , Boya Bio-Pharmaceutical Group Co.Ltd(300294) , Chongqing Zhifei Biological Products Co.Ltd(300122) , Beijing Tiantan Biological Products Corporation Limited(600161) , Shenzhen Kangtai Biological Products Co.Ltd(300601) , etc.
Risk tips
Statistical error of data; There may be some deviation between the batch statistical data and the actual batch issued bottles / pieces; Demand recovery is less than expected; Covid-19 vaccine strain variation; The recovery of routine vaccination was less than expected.
