Pharmaceutical biology weakened this week and performed better than the market
This week, pharmaceutical biology (Shenwan) fell 2.07% year-on-year, outperforming the market. The pharmaceutical business and medical device sub industry performed relatively well, with the pharmaceutical business sub industry falling by 0.07%; The medical device sub industry fell by 0.08%, the chemical pharmaceutical sub industry fell by 2.2%, the traditional Chinese medicine sub industry fell by 2.21%, and the biological products sub industry fell by 3.14%; The medical service sub industry fell 3.35%.
The covid-19 test and covid-19 drug related targets performed well this week, and the innovative drugs in Hong Kong stocks corrected
On March 9, China Meheco Group Co.Ltd(600056) and Freda cooperated in the promotion of covid-19 drug paxlovid in mainland China. Driven by this, China Meheco Group Co.Ltd(600056) and other enterprises with covid-19 drug under research performed well. On March 11, covid-19 antigen detection was approved by the state as a supplement to nucleic acid detection, and relevant detection enterprises rose sharply. On March 8, the US SEC listed three Chinese innovative pharmaceutical companies listed in the United States / Hong Kong on the provisional list of the foreign company Accountability Act. The external financing environment was relatively poor, and there were many callback of innovative pharmaceutical companies listed on H shares. This week, medical devices / traditional Chinese medicine / CXO enterprises disclosed their business data from January to February, with high performance growth, and continue to be optimistic about the pharmaceutical industry.
Outlook for next week: continue to pay attention to covid-19 testing / covid-19 drug research enterprises
Omicron is more infectious than other strains. Since March, the number of new cases of covid-19 in China has increased to more than 400, a significant increase compared with dozens of new cases at the beginning of the month. After antigen detection is used as a supplementary means, we expect that it will be applied in the following scenarios: rapid screening in personnel gathering scene, community home detection and grass-roots detection of symptomatic people; On March 12, the food and Drug Administration approved the self-test application change of antigen testing products of five enterprises. It is suggested to pay attention to relevant testing enterprises, such as Nanjing Vazyme Biotech Co.Ltd(688105) . Based on the consideration of supply safety and price accessibility, domestic covid-19 drugs are worth looking forward to. It is suggested to pay attention to the R & D Progress of relevant enterprises.
Monthly gold shares in March
Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) ( Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) ): a multi category, multi market and multi-level comprehensive instrument leader, after covid-19, it will enjoy the acceleration of global layout and the business cycle of China's new infrastructure, and its performance can grow continuously and stably. The company has adjusted to the bottom range of multi-year valuation, corresponding to the closing price on March 11. The valuations from 2022 to 2023 are 35x and 28x respectively, maintaining the "buy" rating.
Humanwell Healthcare (Group) Co.Ltd(600079) ( Humanwell Healthcare (Group) Co.Ltd(600079) ): in the era of centralized mining, refined hemp drugs have the attribute of high barrier and good industrial competition pattern; The demand for narcotic drugs is driven by the growth of operation volume, comfortable diagnosis and treatment and other factors; The refocusing process continued, the debt ratio improved and the financial expenses decreased. Corresponding to the closing price on March 11, the valuations from 2022 to 2023 are 17x and 14x respectively, maintaining the "buy" rating.
Risk tips
Covid-19 epidemic recurrence risk; Trade friction exceeded expectations; Policy risk; Covid-19 drug development was less than expected
