Since the State Food and Drug Administration approved the import registration of Pfizer covid-19 virus therapeutic drug paxlovid with emergency conditions on February 11, the discussion on "who will eventually spend the Chinese agency right of Pfizer covid-19 therapeutic drug" has intensified. The matter was finally settled.
In March 9th, China Meheco Group Co.Ltd(600056) announced that the company signed a supply agreement with Pfizer Inc on the same day, and will be responsible for the commercial operation of Pfizer COVID-19 virus therapeutic PAXLOVID in Chinese mainland market during the agreement period (2022).
Source: company announcement
repeatedly prompted "prudent investment"
China Meheco Group Co.Ltd(600056) said in the announcement on March 9 that the final use and sales of paxlovid are affected by factors such as epidemic prevention and control, there is great uncertainty, and the relevant business scale is expected to account for a small proportion of the company's overall business volume, which has no significant impact on its recent operating performance. In addition, this agreement is the daily business behavior of the company. The implementation of the agreement will not affect its business independence, and the company's main business will not rely on the other party due to such transactions.
Since March 2, China Meheco Group Co.Ltd(600056) has been trading for four consecutive trading days. There are market rumors that China Meheco Group Co.Ltd(600056) will reach cooperation with Pfizer on covid-19 oral medicine. The China Securities Journal China Securities Taurus reporter noted that on the morning of March 3, a number of investors asked China Meheco Group Co.Ltd(600056) whether they were negotiating with Pfizer on the general agency right of covid-19 oral medicine in China, but China Meheco Group Co.Ltd(600056) has not responded so far.
Since then, China Meheco Group Co.Ltd(600056) successively disclosed two stock trading announcements and a risk warning announcement. Among them, the first stock trading announcement strengthened the market's expectations for the cooperation between the two companies.
In the first change announcement disclosed on March 3, China Meheco Group Co.Ltd(600056) said it was concerned about the recent rumors of cooperation between the company and covid-19 virus treatment drugs, a multinational pharmaceutical company. After verification, relevant matters are under communication and negotiation, and there is still uncertainty. If the cooperation is carried out smoothly, the final use and sales of relevant drugs are also affected by factors such as epidemic prevention and control, and there is uncertainty, which has no significant impact on their recent business performance. The company reminds investors to make rational decisions and invest prudently.
Even so, the investment enthusiasm of the capital market is still high, and China Meheco Group Co.Ltd(600056) won four limit sectors in a row, making it on the dragon and tiger list twice during the period. On March 3, 4 and 7, the company won the well-known hot money seat. The Shanghai, Shenzhen and Beijing branches of East Asia Qianhai securities bought 125 million yuan net. On March 7, the company issued a stock trading announcement again, saying that there was still uncertainty in its cooperation with covid-19 virus treatment drugs, a multinational pharmaceutical company, reminding investors to invest prudently.
Source: China stock market news choice data
2021 performance forecast
On January 28, China Meheco Group Co.Ltd(600056) released the announcement of performance pre reduction. It is estimated that the net profit attributable to the parent company will reach 300 million yuan to 700 million yuan in 2021, a year-on-year decrease of 47% to 77%; The net profit deducted from non parent company was 250 million yuan to 650 million yuan, a year-on-year decrease of 45% to 79%.
The company said that the performance reduction was mainly due to the sharp year-on-year decline in the company's export epidemic prevention business due to the changes in the overseas epidemic situation. Affected by factors such as volume procurement and adjustment of medical insurance catalogue, the performance of its pharmaceutical industry and pharmaceutical business also decreased year-on-year.
China Meheco Group Co.Ltd(600056) landed in A-Shares in 1997 and has three business segments: pharmaceutical industry, pharmaceutical commerce and international trade. The pharmaceutical industry mainly involves the R & D and production of chemical agents, biological products and Chinese patent medicines; Pharmaceutical business mainly focuses on hospital net sales, commercial distribution, pharmaceutical agency promotion, pharmacy retail and third-party logistics; International trade is its overseas business.
According to the company's 2021 semi annual report, its pharmaceutical industry sector ranked first in the gross profit margin of its main business with a gross profit margin of 55.7%, but its operating revenue decreased by 9.17% year-on-year to RMB 1.709 billion; The pharmaceutical business sector has the highest operating revenue. The operating revenue of this sector is about 12.314 billion yuan, accounting for 67.7% of the total operating revenue of the main business, but the gross profit margin of this sector is only 8%.
related companies may benefit
According to the official website of the State Food and Drug Administration on February 12, 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 on February 11, and conditionally approved the import registration of the combined packaging of nevitavir tablets / ritonavir tablets (paxlovid) of Pfizer covid-19 virus treatment drug.
The agency pointed out that the commercialization of Pfizer oral drug paxlovid drives the release of upstream orders. It is suggested to pay attention to head enterprises such as small molecule cdmo (contract customized R & D and production), API and intermediates. At present, it has been disclosed that Porton Pharma Solutions Ltd(300363) is the pharmaceutical enterprise cooperating with Pfizer, while the share price of Aba Chemicals Corporation(300261) , Zhejiang Jianfeng Group Co.Ltd(600668) , Jinghua Pharmaceutical Group Co.Ltd(002349) and others rose sharply due to taking the "express train" of Pfizer covid-19 therapeutic drug concept stock.
On February 11, Porton Pharma Solutions Ltd(300363) announced that the company will provide contract customized R & D and production (cdmo) services for Pfizer after receiving the purchase order. The total amount of the order was 681 million US dollars, more than 50% of the company's audited operating revenue in the latest fiscal year. The delivery time of this order is 2022.
In addition, Asymchem Laboratories (Tianjin) Co.Ltd(002821) recently issued the announcement on signing major contracts for daily operation for three times. The company will provide cdmo services for a small molecule chemical innovative drug of a large pharmaceutical company in the United States. The order amounts of the three contracts reached 481 million US dollars, 2.72 billion yuan and 3.542 billion yuan respectively.
