Key investment points
This week and year to date, the medical index rose by – 3.33% and – 15.10% respectively, and the excess returns relative to the Shanghai index were – 2.39% and – 4.44% respectively; This week, the share prices of biological products, APIs and traditional Chinese medicine were relatively strong, while the share prices of pharmaceutical commerce, chemical pharmacy and medical services were weak; This week, the highest growth rate was Dali Pharmaceutical Co.Ltd(603963) (+ 33.09%), Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) (+ 23.94%), Zhejiang Ausun Pharmaceutical Co.Ltd(603229) (+ 14.88%), and the highest decline was Guilin Layn Natural Ingredients Corp(002166) (- 22.07%), Andon Health Co.Ltd(002432) (- 16.89%), Ningbo Menovo Pharmaceutical Co.Ltd(603538) (- 15.25%). Performance characteristics of rise and fall: the share prices of companies with large and small market capitalization have decreased significantly, and the difference is not obvious; Covid-19 treatment, covid-19 detection and covid-19 vaccine were significantly adjusted, and the vaccine sector was relatively resistant to decline; The adjustment of CXO sector and some traditional Chinese medicine is obvious.
The situation of epidemic prevention and control in China is complex, and covid-19 polypeptide drugs have unique potential. Since March 2022, covid-19 virus infection has increased significantly in China. Covid-19 specific drug is the key to epidemic prevention and control. Covid-19 neutralizing antibody has the advantages of clear target, high purity and large-scale preparation, but there is a risk of losing neutralization effect with the occurrence of mutation; Covid-19 small molecule oral drug is less affected by the variation of virus strain. At the same time, it has low production cost and easy to take. At present, only Pfizer paxlovid is approved for listing with conditions in China; Polypeptide nasal spray drugs, which are friendly in the way of administration, do not need to be directly injected into the nasal cavity through metabolism in the body to play a role. They can inhibit the infection of the virus in the early stage of virus invasion into the human body, and have unique advantages.
Shanghai Junshi Biosciences Co.Ltd(688180) independently developed anti-cd112r monoclonal antibody injection has been approved by FDA! FDA revokes the emergency use authorization of GSK / vir covid-19 antibody therapy! On April 6, Shanghai Junshi Biosciences Co.Ltd(688180) announced that the clinical trial application of anti-cd112r monoclonal antibody injection independently developed by the company for the treatment of advanced solid tumors has been approved by FDA. Cd112r is a new immune checkpoint pathway, and no products targeting cd112r have been approved to market in the world; On April 6, the FDA announced that due to the new Omicron variant ba The proportion of covid-19 infection caused by 2 is increasing, so it is decided not to authorize GlaxoSmithKline and its partner vir biotechnology monoclonal antibody (mAbs) xevudy (sotrovimab) to treat covid-19 anywhere in the United States.
Specific configuration ideas: 1) generic CXO field: pay attention to Baicheng medicine, Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) etc; 2) Field of innovative drugs and industrial chain: Wuxi Apptec Co.Ltd(603259) , Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) , etc; 3) Biotech innovative drugs: kangfang biology, Xinda biology, Yasheng medicine, etc; 4) API field: Jiangxi Synergy Pharmaceutical Co.Ltd(300636) , Apeloa Pharmaceutical Co.Ltd(000739) , Zhejiang Starry Pharmaceutical Co.Ltd(603520) , Zhejiang Tianyu Pharmaceutical Co.Ltd(300702) , etc; 5) Vaccine field: Chongqing Zhifei Biological Products Co.Ltd(300122) , Shenzhen Kangtai Biological Products Co.Ltd(300601) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , etc; 6) Growth hormone field: Changchun High And New Technology Industries (Group) Inc(000661) , Anhui Anke Biotechnology (Group)Co.Ltd(300009) etc; 7) Medical service fields: Aier Eye Hospital Group Co.Ltd(300015) , Topchoice Medical Co.Inc(600763) , haijiya medical, etc; 8) Blood products: Boya Bio-Pharmaceutical Group Co.Ltd(300294) , Beijing Tiantan Biological Products Corporation Limited(600161) etc; 9) Medical and aesthetic fields: Imeik Technology Development Co.Ltd(300896) , Bloomage Biotechnology Corporation Limited(688363) , Huadong Medicine Co.Ltd(000963) , Shanghai Haohai Biological Technology Co.Ltd(688366) , etc; 10) Medical device field: Jiangsu Yuyue Medical Equipment And Supply Co.Ltd(002223) , Qingdao Novelbeam Technology Co.Ltd(688677) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , etc; 11) Field of traditional Chinese medicine: Zhejiang Jolly Pharmaceutical Co.Ltd(300181) , Hubei Jumpcan Pharmaceutical Co.Ltd(600566) , Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , etc.
Risk warning: the progress of industrial transformation and internationalization is not as expected; R & D progress may be less than expected; The price reduction of drugs exceeded expectations; The medical insurance policy was further tightened.
