The importance of the pharmaceutical and biological industry is becoming more and more prominent. At present, the pharmaceutical and biological industry has played an increasingly important role in China. On the one hand, China Meheco Group Co.Ltd(600056) biological industry has a large output value, which is closely related to the health level of residents. On the other hand, as a high-tech industry, pharmaceutical and biological industry plays an important role in preventing and responding to public health emergencies, preventing major sudden diseases and even national security. The epidemic situation also confirmed once again that the covid-19 epidemic hit the world in 2020, causing great challenges to the medical and health systems of all countries in the world, and fully reflecting the urgency and necessity of the development of the pharmaceutical and biological industry. In the face of China's epidemic and overseas outbreaks, China responded quickly and provided protective clothing, masks, gloves, respirators, monitors, infusion pumps, mobile DR and other favorable protection and war epidemic equipment for China and even overseas markets. In terms of vaccines, China has also rapidly developed a number of covid-19 vaccines. At present, several clinical trials of oral covid-19 drugs are also under development. The pharmaceutical and biological industry is safe for residents The importance of social security and even national security has become increasingly prominent.
At present, there are still some fields with high import ratio and technology bottleneck in the field of medicine and biology. In terms of drugs, although the number of approved innovative drugs in China has continued to grow in recent years, there is still a gap between us and overseas leading enterprises in some heavy drug fields. Overseas giants AstraZeneca and Roche still have some exclusive varieties, and China basically relies on imports. In terms of medical devices, in the fields of imaging equipment, first aid and life support and surgical equipment, in addition to the import substitution of monitoring products, the retention rate of overseas products is still high, especially the high-end market is still dominated by imported products, and the import substitution market is broad. For another example, in terms of basic scientific research reagents, the process technology of scientific research reagents is complex, and there is still a gap between domestic manufacturers and overseas giants in key manufacturing technologies. For example, in terms of controlling impurities in scientific research reagents, the overseas impurity control indicators have reached the PPT level, and China is still at the PPM ~ ppb level. Scientific instruments and equipment, that is, the "instrument" of scientific research, is the basic condition of scientific research and scientific innovation. Domestic scientific research equipment still has great room for development.
The dawn has come, and domestic substitution ushers in an opportunity. With the increasingly fierce strategic competition between China and the United States, the state has also continuously strengthened the independent control of core high-end technologies. The pharmaceutical and biological industry is the cornerstone of people's healthy development. At the same time, it also has strong technical barriers. China's demand for scientific and Technological Development and independent and controllable demand promote the accelerated development of the industry. On the one hand, the state has successively issued a series of incentive policies to promote the rapid development of the industry. On the other hand, domestic enterprises have shown certain advantages in import substitution, showing a rapid growth trend in recent years, such as mass spectrometer, scientific research reagent and other fields, and domestic substitution has ushered in an opportunity
Investment proposal and investment object
Overall, the pharmaceutical and biological industry is not only related to the health level of residents, but also plays a very important role in public safety, social security and even national security. At present, China still has some deficiencies in some fields, but relevant fields have received policy attention and support, and are expected to make breakthroughs in the future. It's suggested to focus on companies that are self controllable, with high key technical barriers, high barriers to key technologies, and big room for import substitution in the future, such as Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) \ ( Acrobiosystems Co.Ltd(301080) , not rated) and other companies.
Risk tips
China's technological breakthrough is less than expected; The implementation of policies such as medical insurance fee control exceeded expectations and brought risks such as adverse impact on the industry.
