On April 13, Dali Pharmaceutical Co.Ltd(603963) ( Dali Pharmaceutical Co.Ltd(603963) . SH) shares closed at 17.18 yuan / share, which has realized the "six consecutive boards" of daily limit; On the evening of April 12, Dali Pharmaceutical Co.Ltd(603963) announced that in April this year, the company participated in the quotation of "Guangdong alliance Qingkailing and other Chinese patent medicine centralized procurement", and its main product Xingnaojing injection is intended to be selected for Guangdong alliance Chinese patent medicine centralized procurement.
In this centralized collection, Xingnaojing injection and other Chinese patent medicines included in the latest version of covid-19 diagnosis and treatment plan reduced prices, but the price of exclusive varieties such as Lianhua Qingwen granule decreased slightly Guosen Securities Co.Ltd(002736) believes that the centralized purchase of Chinese patent medicine is the general trend, and the varieties of traditional Chinese medicine with excellent competition pattern, excellent clinical evidence-based and definite product curative effect are expected to match the better bid winning rules.
Covid-19 Chinese patent medicine manufacturers are favored by the market. Recently, the stock prices of Dali Pharmaceutical Co.Ltd(603963) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) and other companies have risen sharply.
covid-19 Chinese patent medicine manufacturers' shares soared
According to the results of the Guangdong provincial drug exchange center, which was released in April 8th, the Guangdong Union's proprietary Chinese medicine collection contains several Chinese patent medicines which are included in the New Coronavirus pneumonia diagnosis and treatment plan (trial version ninth), such as Xingnaojing injection, Lianhuaqingwen granule, rehnin injection and other drugs, involving a number of Chinese medicine concept listed companies such as Dali Pharmaceutical Co.Ltd(603963) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) and Jiangsu Kanion Pharmaceutical Co.Ltd(600557) .
Among them, the manufacturers of Xingnaojing injection include Dali Pharmaceutical Co.Ltd(603963) , Henan Tiandi Pharmaceutical Co., Ltd. and Wuxi Jiyu Shanhe Pharmaceutical Co., Ltd. Minsheng Securities Research Report shows that according to the calculation of the recent national median bid price of the drug, the proposed alternative price of Xingnaojing injection has decreased by 40%, which is higher in covid-19 Treatment Chinese patent medicine; The price drop of Lianhua Qingwen granule is less than 5%, and the price drop of Reduning injection is 20% to 25%.
The listed companies that produce covid-19 Chinese patent medicine are favored by the market. Among them, Dali Pharmaceutical Co.Ltd(603963) share price, one of the manufacturers of Xingnaojing injection, rose sharply. Since April, the share price has increased by more than 68%, leading the rise of traditional Chinese medicine concept sector. At the same time, the share prices of Lianhua Qingwen granule manufacturer Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) and Reduning Injection manufacturer Jiangsu Kanion Pharmaceutical Co.Ltd(600557) have also increased to varying degrees recently.
The market "optimistic" about covid-19 treatment of Chinese patent medicine is also reflected in the performance of relevant companies. According to the data disclosed in the first quarterly report, Jiangsu Kanion Pharmaceutical Co.Ltd(600557) the operating revenue of injection in the first quarter was 399 million yuan, an increase of 40.47% over the same period last year, mainly due to the year-on-year increase in the sales of Reduning injection.
Guosen Securities Co.Ltd(002736) said that the purpose of centralized procurement is to eliminate the loss of intermediate links. In recent years, the state has vigorously encouraged the development of traditional Chinese medicine in the hope of providing people with high-quality traditional Chinese medicine products and services at reasonable prices.
Dong Xinrui, an expert of Beijing Intellectual Property expert database and a shareholder of Beijing sorghum Private Equity Fund Management Co., Ltd., told the Securities Daily: "the centralized purchase of traditional Chinese medicine can further improve the market share of products in relevant regions and directly increase the drug sales of the company while improving the accessibility of drugs and reducing the drug burden of patients."
Shanghai Kaibao Pharmaceutical Co.Ltd(300039) who produces Tanreqing injection also said: "if the company subsequently signs and implements the purchase and sales agreement, it will be conducive to further expand the market sales of the selected products and improve the market share."
exclusive varieties have a smaller decline and are easier to "get out of the circle"
Guosen Securities Co.Ltd(002736) analyst Ma Qianli said: "the announcement of the results of the proposed centralized collection of Chinese patent medicines by Guangdong alliance shows that the decline of exclusive varieties is moderate, with an average decline of 18%."
This centralized purchase is divided into groups according to prescriptions and average daily treatment costs. Drugs with the same prescriptions but different drug names are combined into one group in principle, and are included in the exclusive variety for the first time. According to incomplete statistics by the reporter of Securities Daily, most of the Chinese patent medicines to be selected / selected for covid-19 treatment are exclusive varieties, including Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) Lianhua Qingwen granule, Shanghai Kaibao Pharmaceutical Co.Ltd(300039) Tanreqing injection, Jiangsu Kanion Pharmaceutical Co.Ltd(600557) Reduning injection and Xiyanping injection of Jiangxi Qingfeng Pharmaceutical Co., LtdP align = "center" (exclusive variety of covid-19 Chinese patent medicine to be selected / selected)
Among them, although Lianhua Qingwen granule and Xiyanping injection are proposed alternative products, Ma Qianli believes that: "the alternative exclusive varieties can still be used in large quantities through the 'bottom-up clause'." According to the centralized procurement rules of the Guangdong alliance, the alternative products that have not been used incrementally will be purchased by the medical institutions independently (for the record) after completing the agreed procurement volume of the current year within the procurement year, among which the innovative traditional Chinese medicine, emergency (emergency) rescue drugs, children's drugs and emergency drugs in response to public health emergencies will be purchased on demand.
In this centralized purchase, the price decline of exclusive varieties is smaller and easier to "get out of the circle", and the proof of clinical effectiveness and safety is the key to get out of the circle Guosen Securities Co.Ltd(002736) research report shows that the varieties of traditional Chinese medicine with excellent competition pattern, excellent clinical evidence-based and definite product curative effect are expected to match the better bid winning rules.
First of all, the exclusive Chinese patent medicine has been included in the "New Coronavirus pneumonia diagnosis and treatment plan (trial version ninth)", which is considered by the industry experts to be a drug with definite curative effect and high clinical application value. "Clinical value is the company's exclusive product and the core driving force for the development of the whole Chinese patent medicine. A 'heavy product' can lead the development of enterprises and the pharmaceutical industry," the other exclusive product manufacturers to be selected also told the Securities Daily
Secondly, as the heavyweight products of listed companies, exclusive varieties integrate the company's brand influence, and the company pays more attention to and R & D. Dong Xinrui said: "in the process of centralized purchase, the company often focuses on single products in order to make a breakthrough; while in the process of daily operation, it optimizes the category layout from point to area. Exclusive varieties are highly representative and driving."
