According to the data, as of March 23, a total of 10 companies in the biological vaccine concept sector disclosed the 2021 annual report. Among them, 9 companies have achieved year-on-year growth in revenue.
R & D investment of 9.461 billion yuan
According to the data of the annual report, the reporter of Securities Daily sorted out that the total amount of R & D investment of 10 biological vaccine companies was 9.461 billion yuan. Among them, the R & D investment of two companies increased by more than 100% year-on-year, Walvax Biotechnology Co.Ltd(300142) was 138.68% and Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) was 116.91%.
In 2021, Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) produced divalent HPV vaccine (Xinkening) with a cumulative batch issuance volume exceeding 10 million Walvax Biotechnology Co.Ltd(300142) ‘s sales revenue of 13 valent pneumococcal polysaccharide conjugate vaccine (woanxin) (hereinafter referred to as “pcv13”) increased by about 66% over the same period of last year; Pcv13 was approved to issue 4950808 million doses, an increase of 10.88% over the same period last year.
Among the 10 biological vaccine enterprises that have disclosed the annual report, 6 have shown an increasing trend of R & D investment.
Walvax Biotechnology Co.Ltd(300142) chairman Li Yunchun said: “over the past 20 years since its establishment, the company has invested more than 3 billion yuan in R & D and innovation, accounting for the first proportion of revenue in its peers. The R & D pipeline includes the cutting-edge mRNA vaccine technology route.”
Among the 10 companies, Shanghai Fosun Pharmaceutical (Group) Co.Ltd(600196) last year’s total R & D investment reached 4.975 billion yuan. Its research projects include not only mRNA vaccines, but also a variety of innovative drugs, antibody drugs, cell therapy and other technologies.
accelerate the research and development of domestic HPV Vaccine
In addition to covid-19 vaccine, HPV vaccine has also become one of the main focuses of competition among many vaccine enterprises.
On March 16, Liaoning Chengda Biotechnology Co.Ltd(688739) announced that the fifteen valent HPV vaccine developed in cooperation with Kangle guards had received the notice of approval for drug clinical trial approved and issued by the State Drug Administration, which was also the first domestic fifteen valent HPV vaccine approved for clinical trial.
Guosen Securities Co.Ltd(002736) research report shows that Shanghai Bowei Biotechnology Co., Ltd. is the first vaccine enterprise in China to enter the phase III clinical trial stage of nine valent HPV, and four companies in China are at this stage. In the field of bivalent HPV vaccine, Walvax Biotechnology Co.Ltd(300142) will soon be listed, which is expected to become the second domestic bivalent HPV vaccine manufacturer; In addition, some companies are deploying trivalent HPV vaccine.
Walvax Biotechnology Co.Ltd(300142) relevant person in charge told reporters that the application of the company’s bivalent HPV vaccine drug registration approval document is in the process of review and approval according to the procedures of the drug administration department.
On the evening of the disclosure of the annual report on March 18, Walvax Biotechnology Co.Ltd(300142) announced that its subsidiary, Shanghai Zerun, planned to increase the capital of Yuxi Zerun in cash, with a capital increase of 330 million yuan. The announcement shows that this capital increase will further enhance the operation ability of Yuxi Zerun, improve its anti risk ability, promote the listing of bivalent HPV vaccine products, and promote the healthy development of Yuxi Zerun.
At present, HPV vaccines in circulation in China are mainly bivalent HPV vaccines produced by Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) and moshadong four valent and nine valent HPV vaccines acting exclusively by Chongqing Zhifei Biological Products Co.Ltd(300122) agent Chongqing Zhifei Biological Products Co.Ltd(300122) has not yet released its annual report, but it has been predicted that the growth rate of net profit this year will be 2-2 times Chongqing Zhifei Biological Products Co.Ltd(300122) and MSD started their cooperation in 2011, and now their HPV vaccine business accounts for more than 80% of the revenue, contributing a lot of sales to the company.
However, the production capacity of HPV vaccine on the market is far from meeting the needs of women for the vaccine. Domestic HPV vaccine has thus opened the accelerated mode of research and development. After the substantial increase of HPV vaccine production, it may have an impact on imported varieties and affect the sales pattern of HPV vaccine in the future.
Huaxi Securities Co.Ltd(002926) research report shows that the government provides free HPV vaccine for school-age girls, which further stimulates the market demand. At present, the penetration rate of HPV vaccination among school-age women in China is only about 7%. According to the penetration rate of 30% / 45% / 60%, China still needs 280 million / 450 million / 620 million HPV vaccines, which is far from reaching the peak.
dividend and buy back to stabilize confidence
Data show that 9 of the 10 biological vaccine concept companies that have published annual reports have announced dividend plans. Among them, Changchun High And New Technology Industries (Group) Inc(000661) distributed a cash dividend of 8 yuan (including tax) for every 10 shares, becoming the biological vaccine enterprise that currently distributed the largest cash red envelope for a single share Meihua Holdings Group Co.Ltd(600873) a total of 1.221 billion yuan of “big red envelopes” will be issued.
In addition, Cansino Biologics Inc(688185) -u, Walvax Biotechnology Co.Ltd(300142) and other six vaccine enterprises announced share repurchase plans this year, with a total investment of 1.57 billion yuan to 1.75 billion yuan, of which the total transaction amount of the completed repurchase plan is 1.01 billion yuan. According to the repurchase plan, Walvax Biotechnology Co.Ltd(300142) plans to use its own funds to repurchase the company’s shares for the implementation of the employee stock ownership plan or equity incentive plan. The repurchase limit is 6 million shares, the repurchase price does not exceed 70 yuan / share, and the expected repurchase amount does not exceed 420 million yuan.
Guo Shiliang, a columnist and financial commentator of Tencent Securities Research Institute, told reporters: “for listed companies, R & D can not see results overnight. It is also necessary to improve shareholders’ investment confidence, including the improvement of core technology, the expansion of market share, the increase of dividend and repurchase strength, which can enhance the competitiveness of enterprises.”
