Affected by the epidemic and African swine fever, vitamin B5 has been running at a low price in 2021. The performance of Yifan Pharmaceutical Co.Ltd(002019) ( Yifan Pharmaceutical Co.Ltd(002019) . SZ), which is heavily dependent on vitamin B5 cycle, is also difficult. At the 2021 annual performance meeting held on April 20, Feng Deqi, the company's board secretary, said, "at present, the market situation of vitamin B5 is still good. Since this year, the product market price has increased greatly. At present, in addition to the short-term impact on overseas exports due to the epidemic, the company's production and sales are relatively normal."
For the research and development progress of the third generation insulin under research, Lin Xing, deputy general manager of the company, said, "the third generation insulin product under research, lispro insulin, is currently preparing the clinical application materials, and the clinical application is expected to be completed this year. According to the current regulations, the clinical application of the third generation insulin in Europe and America only needs to complete the clamp test."
According to Lin hang, at present, the company has collected more than 4 million human insulin injections, which is expected to have a positive impact on the company's operating performance in 2022.
For the company's in-process research products that have attracted much market attention, ebergostien α Injection (hereinafter referred to as "f-627"), Feng Deqi said that it is expected that the GMP verification of f-627 will be carried out by the end of this year. According to the current regulations, the review results are expected to be given within 277 days after acceptance. "At present, the national new drug creation project cannot be used as a sufficient condition for priority review, and the NDA application of f-627 in China is applied in a standard way."
It is reported that f-627 is an innovative biological drug developed by Yiyi biology, a subsidiary of Yifan Pharmaceutical Co.Ltd(002019) holding company, which is used to prevent and treat neutropenia caused by chemotherapy in tumor patients. It is understood that Yifan Pharmaceutical Co.Ltd(002019) repeatedly stated at the investor exchange meeting that the US market share of shengbaiyao is US $4 billion, and the listing of f-627 can have a minimum market share of 10% and obtain a minimum sales commission of 15%, which can bring a net profit of RMB 400 million to Yifan Pharmaceutical Co.Ltd(002019) in the United States alone.
At the performance meeting, Yu Haixia, the company's chief financial officer, pointed out that the main incremental sources of the company's future revenue include the increase of overseas sales of the company's own products, imported drugs and agent drugs, the gradual mass production of small molecule products, the commercialization of macromolecular f-627 after being reviewed by the US FDA, European EMA and China, as well as the low-cost operation of API leading products and the production of new products.
Fan pharmaceutical's main business includes pharmaceutical products, APIs and polymer materials, of which APIs are mainly vitamin B5 and raw B5 and other products. The annual report shows that in 2021, the company's API segment achieved a revenue of 1.062 billion yuan, a year-on-year decrease of 39.44%, of which the sales revenue of vitamin B5 series products was 470 million yuan, a year-on-year decrease of 61.37%.
Lin Xing pointed out that the overall competition pattern of the vitamin industry tends to be fierce. In the short term, there is a certain periodicity, and the replacement process of production capacity will occur repeatedly; However, vitamin products have a certain rigid demand, and will not change the development pattern of the industry due to the epidemic in the long run.
"The company's vitamin B5 products are implemented according to the market price, but the implementation price has a certain lag. At the same time, affected by the epidemic, the actual sales volume of the company's vitamin B5 products has decreased to a certain extent, which also has a certain impact on the actual business performance." He said.
The financial Associated Press reporter noted that in 2021, the Yifan Pharmaceutical Co.Ltd(002019) sales expenses increased by 26.91% year-on-year to 893 million yuan, while the R & D expenses decreased by 39.56% year-on-year to 197 million yuan.
In this regard, Yu Haixia explained that in 2021, the company increased the sales of self-produced products, introduced imported products such as blood tumor products and recombinant human insulin, made overall planning through the medical marketing department, strengthened brand publicity around core experts, and carried out various forms of academic promotion, consultation and other activities, so as to increase the sales expenses; The main reason for the significant reduction of the company's R & D expenses is that the R & D progress has slowed down due to the impact of the epidemic, which will continue to be promoted in the future.
