I. focus this week -- combing the latest progress of covid-19 drug research and development
On March 9, 2022, more than 4.5 million cases of covid-19 pneumonia were diagnosed worldwide. According to the United Nations, the number of covid-19 cases reported by countries to who has increased by 8% in the past week. The overseas epidemic situation is grim. With the gradual liberalization of foreign control, China's domestic and foreign troubles have promoted the rapid spread of the epidemic after the emergence of Omicron strain. In March 14th, the New Coronavirus pneumonia diagnosis and treatment plan (trial version ninth) was officially released, which made new guidance for the diagnosis and treatment of COVID-19. Among them, oral small molecule covid-19 drugs were officially included in the treatment. With the continuous evolution of the epidemic, the research and development of covid-19 specific drugs outside China have entered a critical period.
In this week's weekly report, we tracked and updated the latest situation of global epidemic evolution, sorted out the latest situation of covid-19 specific drug research and development at home and abroad, supplemented the clinical progress of interferon lambda in the treatment of covid-19, and comprehensively combed the research and development progress of covid-19 oral small molecule drugs, which is the current mainstream mechanism.
Omicron continues to spread, and the epidemic is escalating outside China. On March 9, 2022, more than 4.5 million cases of covid-19 pneumonia were diagnosed worldwide. The number of confirmed cases outside China has increased sharply. Omicron virus has spread rapidly and become the main source of infection of new cases in the world. The epidemic will continue to ferment in the short term. Under the background, the demand for therapeutic drugs has attracted more attention. The ninth edition of covid-19 diagnosis and treatment plan was released, and the adjustment of epidemic prevention policy guided the new direction of drug research and development. Pf-07321332 / ritonavir tablets and ambacizumab / romistuzumab were officially included in the treatment. The revision of case classification admission, contact isolation management and discharge standards fully shows that the epidemic evolution has entered the stage dominated by the treatment of mild and moderate diseases, and the importance of specific therapeutic drugs represented by small molecule oral drugs is self-evident.
Establish respiratory barrier to avoid inflammation, IFN- λ Phase III positive data show the therapeutic potential of covid-19. IFN- λ As the first barrier of respiratory tract, it limits the expansion of virus in epithelial barrier, so as to avoid inflammation. Eigerbiopharmaceuticals announced that the phase III clinical together of interferon lambda in the treatment of non hospitalized patients with covid-19 was successful, and the potential of interferon in the treatment of covid-19 is expected to be further tapped in the future.
Under the background of epidemic evolution, pharmaceutical enterprises continue to increase the research and development of small molecular oral drugs. Under the evolution of the epidemic situation, mild and moderate diseases have become the main treatment object. Small molecule oral drugs have great clinical application and commercial development value. Yanyeyi (s-217622) reported production based on the positive data of phase IIa; China Shanghai Junshi Biosciences Co.Ltd(688180) (vv116), real Biology (azvudine), Geli Pharmaceutical (ritonavir, asc10, asc11) led the exploration of overweight small molecule oral drugs for local pharmaceutical enterprises.
II. Market review of innovative medicine stocks in the pharmaceutical sector:
Beijing Kawin Technology Share-Holding Co.Ltd(688687) , Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) , Shanghai Junshi Biosciences Co.Ltd(688180) -u, Guangdong Zhongsheng Pharmaceutical Co.Ltd(002317) , Shan Dong Kexing Bioproducts Co.Ltd(688136) . The last five are Jenkem Technology Co.Ltd(688356) , Hunan Nucien Pharmaceutical Co.Ltd(688189) , Huadong Medicine Co.Ltd(000963) , Shenzhen Salubris Pharmaceuticals Co.Ltd(002294) , Yifan Pharmaceutical Co.Ltd(002019) .
The top 5 gainers and losers in the pharmaceutical innovative drug sector of Hong Kong stocks this week are Geli pharmaceutical-b, Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) , heyu-b, Xiansheng pharmaceutical, Shanghai Junshi Biosciences Co.Ltd(688180) . The last five are konoya-b, Peijia medical-b, Lepu biology-b, jiakesi-b and cornerstone pharmaceutical-b.
III. IPO this week: Rongchang Biology - China's ADC leader with global vision;
Shouyao Holdings -- an innovative generalist combining self research and cooperation
IV. medium and long term perspective of innovative pharmaceutical industry:
In recent years, with the influx of capital stimulated by policies, China has ushered in a gale of innovation. China's innovation market has strong policy attributes. On October 8, 2017, the two offices jointly issued the opinions on deepening the reform of the review and approval system and encouraging the innovation of drugs and medical devices, which opened the first wave of innovation. With the revision of the administrative measures for drug registration, drug negotiation and the introduction of the dynamic adjustment mechanism of medical insurance, the top-level design of the policy has completely solved the problem of insufficient innovation power caused by Limited R & D resources, non-standard Review & slow progress, low bidding efficiency, high difficulty in admission and difficult connection of medical insurance in history. Under the stimulation of Programmatic Policies, combined with the promotion of the science and innovation board and the registration system in recent years, the capital of innovative medicine racetrack swarmed, and the financing of innovative medicine enterprises accelerated, which also led China's innovative medicine investment into the era of gale mouth. Driven by a good policy environment and capital, China's innovation rise has accelerated. Domestic innovative drugs have entered the harvest period one after another, and more heavy innovative products will be approved and listed in China in the next few years.
What cannot be ignored is that the time window for "general innovation" given by the policy is becoming shorter and shorter, the cost control of medical insurance is becoming stricter, and the track is becoming more and more crowded. We have slowly entered the moment of "selected high-quality innovation". At present, the homogenization of innovative drug research and development in China is more serious, and the homogenization of targeted drugs is the most serious. The era that innovative drugs are listed as blockbusters is slowly passing, and the time window period of "general innovation" given by the policy is becoming shorter and shorter. We believe that China's innovative drug market has slowly entered the moment of "selected high-quality innovation" from "general innovation". In the future, the homogenization competition of McAb popular targets will continue to be intense, and the homogenized products will gradually lose their competitiveness. New technologies, scarce technology platforms, differentiated treatment fields and innovative drug delivery methods may bring a better competitive pattern to enterprises, and companies with technology precipitation are expected to stand out.
Risk tips: 1) negative policies continue to exceed expectations; 2) The growth rate of the industry was lower than expected.
