Current investment tips:
Market performance this week: this week, Shenwan pharmaceutical biological index rose 0.54%, the Shanghai Composite Index fell 1.19% and wandequan a fell 1.40%. This week, the pharmaceutical biological index ranked No. 8 in 31 Shenwan sub industries Rise and fall of various sectors:
Biological products (- 1.70%), medical services (+ 4.49%), chemical pharmaceuticals (- 0.10%), medical devices (- 3.16%), pharmaceutical commerce (+ 2.46%), traditional Chinese medicine (+ 2.45%). At present, the overall valuation of the pharmaceutical sector is 25.22 times (pe-2022e), ranking 8th among 31 shenwanyi industries (2021).
Covid-19 epidemic tracking: (1) local epidemic situation in China: this week (2022 / 3 / 212022 / 3 / 26), China (excluding Hong Kong, Macao and Taiwan) reported 10680 local covid-19 cases (12794 cases in the same period last week) and 19523 asymptomatic infections (9789 cases in the same period last week). As of 15:00 on March 27, there were 55 high-risk areas and 550 medium risk areas in China; (2) The number of confirmed cases of covid-19 increased by 9.92 million overseas from March 21, 2022 to March 26, 2022 (11.15 million in the same period last week), with an average daily increase of about 1.65 million; (3) Approval of covid-19 antigen detection reagent:
When China is when China is China, the country ” ” ”’the country ” ”’the country ” ” ”’the country ” ” ” ” ”the country’ ” ” ” ” ”’When the country ” ”’the country ” ”’the country ” ” ” ”the country’ ” ” ” ”the country’ ” ” ” ” ”the country’ ” ” ” ” ” ”19 antigen detection reagent has been approved 19 of 19, which involves listed companies including Shenzhen V&T Technologies Co.Ltd(300484) 84848 Shenzhen V&T Technologies Co.Ltd(300484) 82 942 , Shenzhen Yhlo Biotech Co.Ltd(688575) .
Regulations on the price management of antigen testing were issued. In March 25th, the office of the National Health Insurance Bureau issued the notice on strengthening the price management of New Coronavirus antigen detection, which stipulates: (1) the provinces should make clear the policy before April 8th, and the antigen test allows the fees to be charged according to the “price item + reagent” method. The price of the capping is not more than 15 yuan, of which the price is not more than 5 yuan per person, and the detection reagent is sold at the zero price difference according to the actual purchase price. (2) If people simply detect covid-19 antigen, public medical institutions will be exempted from outpatient examination fees. If the patient self tests covid-19 antigen, public medical institutions shall not charge for price items; (3) Before April 30, all provinces will further reduce the procurement costs of public medical institutions by organizing the implementation of bidding and online connection and participating in inter provincial alliance procurement; (4) Local medical security bureaus shall carry out special monitoring on the price of covid-19 antigen detection reagent sold by network platforms, social pharmacies and other retail terminals.
Jiangsu has started centralized collection of dental implants. On March 22, Jiangsu Medical Insurance Bureau issued the notice on carrying out the purchase of oral medical consumables by inter provincial alliance and filling in the historical purchase data of medical institutions, which will carry out the purchase of oral implant system. Now the filling in of historical purchase data has been started. At present, Sichuan, Ningxia, Shanxi and other places have also carried out data reporting. Zhejiang Ningbo has previously limited the price to 1000 yuan for domestic production and 1500 yuan for import. The medical service fee of medical institutions is set at 2000 yuan, and stipulates that consumers can choose to use the balance of medical insurance account over the years to pay the cost of dental seeding.
Core view: the epidemic situation at home and abroad continues. It is suggested to continue to pay attention to the whole industrial chain of “covid-19 detection + covid-19 drug + vaccine booster”.
It is currently in the period of performance disclosure, and it is recommended to focus on the first quarter. The first quarter of the first quarter is a good one. The underlying trend is good, the performance is strong, and there are companies that might exceed expectations: Porton Pharma Solutions Ltd(300363) the 35 Lbx Pharmacy Chain Joint Stock Company(603883) , Dashenlin Pharmaceutical Group Co.Ltd(603233) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) , Shanghai Junshi Biosciences Co.Ltd(688180) , Chongqing Zhifei Biological Products Co.Ltd(300122) , etc.
Risk tips: centralized purchase and price reduction risk, epidemic fluctuation risk and R & D risk
