Key points:
The oral dosage of nevitavir covid-19 is imminent, and we pay attention to the investment opportunities in the industrial chain
In recent years, China’s COVID-19 epidemic has been repeated. In March 15th, the Health Planning Commission released the ninth version of New Coronavirus pneumonia diagnosis and treatment plan, adding antigen detection as a supplement, further improving the ability of early detection of cases. Pf-07321332 / ritonavir tablets (paxlovid) and domestic monoclonal antibodies (ambavizumab / romisvir mAb injection) were included in the treatment regimen. On March 21, aiming at the new diagnosis and treatment plan, the medical insurance bureau timely adjusted and optimized the medical security policies and measures for epidemic prevention and control, and timely adjusted the covid-19 virus antigen detection reagent and corresponding detection items and covid-19 treatment drugs into the scope of medical insurance payment. On March 17, the pharmaceutical patent pool (MPP) announced that it had signed an agreement with 35 generic pharmaceutical companies to produce Pfizer’s oral covid-19 therapeutic drug naimatavir, providing naimatavir drug supply to 95 low-income countries around the world, covering 53% of the global population. It is expected that 4.03 billion people will benefit, excluding China. Five generic pharmaceutical companies in China have been authorized, namely Apeloa Pharmaceutical Co.Ltd(000739) , Shanghai Desano, Fosun Pharmaceutical, Zhe Jiang Hua Hai Pharmaceuticalco.Ltd(600521) and Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) .
Innovative drugs rebounded sharply this week, and the main line of covid-19 oral drugs in the API sub industry was active
This week, pharmaceutical biology rose 1.1%, outperforming Shanghai and Shenzhen 300.2%, among which biotechnology rebounded sharply, and Hong Kong and A-share biotechnology rose 4% and 2% respectively. Among the tertiary sub industries, six sub industries rose and six sub industries fell, among which vaccine and pharmaceutical circulation rose the most, while offline pharmacies and hospitals fell sharply.
Investment advice
Covid-19 oral drug industry chain has always been the main line we are optimistic about. Recently, nimatovir has been approved in China and quickly incorporated into the diagnosis and treatment plan and medical insurance. At the same time, five Chinese enterprises have been authorized to produce generic drugs, which is expected to significantly boost the performance growth. It is suggested to actively pay attention to the investment opportunity of the industrial chain. The investment idea under the post epidemic situation should return to the industrial operation trend and grasp the two main investment lines of bottom process innovation and cutting-edge scientific and technological innovation.
1. The main line of bottom process innovation: tob end invisible champion. It is suggested to pay attention to the opportunities of individual stocks in the upstream equipment, gene consumables, biological enzymes, high-end analytical instruments and reagents of the biopharmaceutical industry chain.
2. The main line of cutting-edge scientific and technological innovation: the value of cutting-edge technology platform. It is suggested to pay attention to the potential investment opportunities of ADC, shuangkang and mRNA technology platform companies. In the medium and long term, the industry has ushered in the historical opportunity of transformation and upgrading. In the short term, it has fluctuated under the influence of the external macro environment and sentiment. In the long term, we maintain the overweight rating of the industry.
Risk tips
1. The clinical research and development of innovative drugs failed, and the pharmaceutical procurement policy continued to be under high pressure.
2. The internationalization process is slow.
