Market review: last week, the A-share pharmaceutical and biological index rose by 1.08%, outperforming the CSI 300 index by 2.02pp and the gem composite index by 0.85pp, ranking 3 / 28. The performance is good, mainly due to the good performance of covid-19 epidemic related sectors. The H-share Hang Seng medical health index closed up 3.49%, underperforming the Hang Seng state-owned enterprise index by 0.84pp, ranking 2 / 11.
Tracking the research and development progress of listed companies: last week, Chongqing Zhifei Biological Products Co.Ltd(300122) of the 23 valent pneumococcal polysaccharide vaccine and Renhui biological benalutide injection were newly accepted; New contractor of NDA application for obutinib tablets of Hequan pharmaceutical; Qilu pharmaceutical’s ind application for qlh11906 tablets was newly undertaken. Zhengda Tianqing’s recombinant human coagulation factor ⅶ a for injection and Yunding Xinyao’s budesonide sustained-release capsule are in phase III clinical trials; Hlx07 injection of Fuhong Hanlin and hr18034 for injection of Jiangsu Hengrui Medicine Co.Ltd(600276) are in phase II clinical practice Shenzhen Chipscreen Biosciences Co.Ltd(688321) of theoroni capsule is undergoing phase I clinical treatment.
This week’s view: focus on the new covid-19 diagnosis and treatment plan and the main line of Pfizer MPP authorized investment
In March 15, 2022, the national health and Health Commission and the State Administration of traditional Chinese Medicine issued the “New Coronavirus pneumonia diagnosis and treatment plan (trial version ninth)”. Investors are advised to pay close attention to the related investment opportunities: 1)
Pfizer covid-19 oral drug industry chain: it is suggested to pay attention to Asymchem Laboratories (Tianjin) Co.Ltd(002821) , Wuxi Apptec Co.Ltd(603259) and Porton Pharma Solutions Ltd(300363) . 2) Ambacizumab / romisvir mAb: it is suggested to pay attention to tengshengbo drug-b (H); 3) Intravenous covid-19 human immunoglobulin: it is recommended to pay attention to Beijing Tiantan Biological Products Corporation Limited(600161) , Boya Bio-Pharmaceutical Group Co.Ltd(300294) ; 4) Traditional Chinese medicine: it is suggested to pay attention to Chongqing Taiji Industry (Group) Co.Ltd(600129) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , Tasly Pharmaceutical Group Co.Ltd(600535) .
MPP announced that it had signed agreements with 35 pharmaceutical companies on Pfizer covid-19 oral drugs, including 5 Chinese companies. It is suggested to pay attention to the listed companies Zhe Jiang Hua Hai Pharmaceuticalco.Ltd(600521) , Apeloa Pharmaceutical Co.Ltd(000739) , Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) , Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) .
Investment strategy in 2022: know the constant changes, keep the right and innovate. Based on the changes and invariance of pharmaceutical investment, we believe that we should actively grasp the investment opportunities in the direction of innovation and internationalization in the future. In terms of innovative drugs and vaccines, Xinda Biology (H) and Rongchang Biology (H) are recommended; In terms of CXO, Yao Mingsheng (H), Pharmaron Beijing Co.Ltd(300759) , Shanghai Haoyuan Chemexpress Co.Ltd(688131) , Pharmablock Sciences (Nanjing) Inc(300725) ; In the field of equipment and Life Sciences, recommend Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , minimally invasive medicine (H), Shinva Medical Instrument Co.Ltd(600587) , Amoy Diagnostics Co.Ltd(300685) ; In terms of innovative cutting-edge technologies, pay attention to unlisted enterprises such as Aibo biology; For domestic consumption, we recommend Jinxin reproduction (H), Lbx Pharmacy Chain Joint Stock Company(603883) , Shandong Wit Dyne Health Co.Ltd(000915) , Boya Bio-Pharmaceutical Group Co.Ltd(300294) .
Risk analysis: price reduction risk of drugs / consumables; Industry “black swan” event; Risk of R & D failure.
