Event:
In March 11th, the national health and Health Committee issued the notice on the issuance of the COVID-19 virus antigen detection application plan (Trial Implementation). The State Council, in response to the integrated group of New Coronavirus pneumonia epidemic prevention and control mechanism, decided to add antigen tests on the basis of nucleic acid detection as a supplement, which applies to people suspected of symptoms within 5 days of treatment, including the primary medical institutions. Isolate observers and community residents. If community residents have self-test needs, they can purchase antigen detection reagents for self-test through retail pharmacies, online sales platforms and other channels. On March 12, the State Food and Drug Administration issued a notice approving the change of covid-19 antigen product self-test application of Nanjing Nanjing Vazyme Biotech Co.Ltd(688105) , Beijing jinwofu, Shenzhen Huada Yinyuan, Guangzhou Guangzhou Wondfo Biotech Co.Ltd(300482) , Beijing huaketai biology, and five covid-19 antigen self-test products were officially launched.
Antigen detection is expected to be an effective supplement to nucleic acid detection
Since March, the epidemic has spread more and more in Chinese mainland. In March 12th, the number of new confirmed cases in Chinese mainland increased to 1938 cases, and the new asymptomatic infection increased to 1315 cases. The rapid spread of the epidemic has put great pressure on domestic epidemic prevention and control and nucleic acid screening. Antigen detection is applicable to detect patients within 7 days of illness. Its accuracy is not as accurate as nucleic acid detection and there is false negative, but it takes a short time, has low requirements for environment and personnel, and is relatively cheap. It will become an effective supplement to nucleic acid detection.
China’s market is promising and its exports continue to grow
At present, there are still some uncertainties in the price and penetration rate of antigen detection products. With reference to Guangzhou Wondfo Biotech Co.Ltd(300482) covid-19 detection reagent, the bid winning price of products purchased by the group in the alliance area is 16.8 yuan. Based on the calculation of fever patients, isolated people and self inspection people in grass-roots medical institutions, antigen detection will bring a large increase to the market.
Judging from the overseas approval, the domestic covid-19 antigen detection kit has been successively certified overseas. If the approval of Chinese antigen detection products is accelerated, some companies with leading overseas sales, high popularity and strong supply capacity are expected to benefit. According to the data of the General Administration of customs, China’s covid-19 antigen kit exported 71.4 billion yuan in 2021. It is expected that with the recurrence of the epidemic, the short-term overseas demand is still strong.
Investment suggestions:
Companies with approved antigen detection products have obvious first mover advantages. In addition, if the approval of Chinese antigen detection products is accelerated, some companies with leading overseas sales, high popularity and strong supply capacity are expected to benefit. For the upstream raw material end, the improvement of downstream prosperity will lead to the continuous growth of demand. It is suggested to pay attention to relevant antigen antibody companies and consumables companies. For the self inspection crowd, it is recommended to pay attention to retail pharmacies and enterprises with strong OTC ability. It is suggested to focus on Guangzhou Wondfo Biotech Co.Ltd(300482) , the beneficiary companies Bgi Genomics Co.Ltd(300676) , Nanjing Vazyme Biotech Co.Ltd(688105) , the overseas antigen self-test products approved and leading in sales Zhejiang Orient Gene Biotech Co.Ltd(688298) , Andon Health Co.Ltd(002432) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , Getein Biotech Inc(603387) , etc.
Risk tips
The promotion of antigen detection terminal is not as expected; The order of antigen detection reagent does not meet the expectation; Risk of substantial price reduction of products
