Covid-19 thematic update
On March 30, Jiangsu Provincial Food and Drug Administration announced that the covid-19 oral drug ssd8432 (sim0417) of Xiansheng pharmaceutical was approved by ind. Ssd8432, targeting 3CL protease, is the first domestic oral drug of 3CL covid-19 to enter the clinical stage.
On April 4, covid-19 mRNA vaccine of Shijiazhuang Pharmaceutical Group and Cansino Biologics Inc(688185) biology was approved by ind. Tengshengbo pharmaceutical has reached a strategic cooperation with Sinopharm holdings to jointly promote the commercialization of the company's covid-19 neutralizing antibody ambacizumab / romisivumab combination therapy in China.
The treatment of covid-19 with traditional Chinese medicine was recognized by WHO experts. Who experts will agree that traditional Chinese medicine can reduce the risk of mild to moderate patients with covid-19 becoming severe, and further shorten the virus clearance time, clinical symptom relief time and hospitalization time on the basis of routine treatment.
The covid-19 neutralizing antibody adg20 developed by adagio has reached the primary end point in a number of global phase II / III clinical trials for the prevention and treatment of covid-19 before and after exposure. The C5a antibody vilobelimab of inflarx in the treatment of severe stage III of covid-19 did not reach the end point of significantly reducing mortality.
The epidemic situation in Asian countries has gradually eased, and the number of new cases in Europe continues to grow. The mortality rate of confirmed patients in the world is stable within 1%, and the mortality rate in the United States has risen to more than 2%. Omicron subspecies ba 2. The proportion in the world continues to rise to 52%.
Zhou viewpoint update
Breakthroughs were made in a number of innovative drugs this week: the clinical applications of Jiahe biological EGFR / c-Met / c-Met and b7h4 / 4-1BB double antibody of platinum medicine fist in class were accepted; Conoya cm310 achieved all efficacy endpoints in the phase II clinical study of chronic sinusitis with nasal polyps; The interim analysis of enreachlung-01, the first phase III clinical study of Corning Jerry PD-L1 / CTLA-4 double antibody kn046, has reached the preset end point, and the application for new drug listing will be submitted as planned.
Continue to be optimistic about the main growth line in the pharmaceutical sector - pharmaceutical innovation Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) chain (CXO). The CXO sector will continue to receive the centralized disclosure of the annual report / first quarter report in April. The industry is in a high boom, and the sector performance and orders continue to improve. It is expected that the market sentiment will further pick up, and the valuation has room for further improvement and repair.
Continue to be optimistic about the upstream API sector of the industrial chain and the upstream pharmaceutical supply chain: ① the dual path growth of industrial upgrading + industrial extension of the API sector is expected to continue to improve the profitability of the API sector in 2022. ② We are optimistic about the investment opportunities in the supply chain during the 14th Five Year Plan period (industrial upgrading + domestic substitution), including equipment and equipment, scientific instruments, upstream reagent consumables for scientific research, upstream consumables for pharmaceutical industry and raw and auxiliary material packaging materials, especially the upstream supply chain for short-term epidemic prevention and control.
Investment advice
It is suggested to focus on the two main lines of high performance growth and epidemic prevention and control. Epidemic prevention and control mainly includes detection and killing, vaccines and specific drugs and their R & D industrial chain, upstream supply chain, etc., with emphasis on vaccines, specific drugs (domestic and foreign) and their R & D industrial chain and the direction of traditional Chinese medicine anti epidemic.
It is suggested to pay attention to: Wuxi Apptec Co.Ltd(603259) , Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) , Hangzhou Tigermed Consulting Co.Ltd(300347) , Nanjing Vazyme Biotech Co.Ltd(688105) , Kingsley biotechnology, etc.
Risk tips
Covid-19 epidemic development and change risk, product R & D data and progress are less than expected risk, product capacity and sales are less than expected risk, government orders are less than expected risk, policy risk, etc
