According to the data, as of January 16, a total of 33 A-share pharmaceutical and biological listed companies issued performance forecasts for 2021. Among them, the performance is expected to exceed 80%, and the pre increase, slight increase and turnaround are 17, 7 and 3 respectively; The total number of performance pre reduction, first loss and continued loss is 6. From the sub industry classification, the net profit of traditional Chinese medicine and in vitro testing is expected to increase greatly in 2021.
pharmaceutical biology index fell
subdivision sector differentiation is obvious
According to the data, the pharmaceutical and biological industry index fell by about 13% in 2021. This is the first decline of the index since 2019.
"The poor performance of the A-share pharmaceutical and biological sector in 2021 is mainly due to the negative impact of digestion and valuation and repeated epidemic on the industrial chain. In addition, compared with 2020, the market's expectation of the performance growth of individual stocks related to the epidemic last year is weaker." Wu Xijun, general manager of Guangzhou Hanma Investment Management Co., Ltd., told the Securities Daily.
He also said: "Under the normalized centralized procurement, the unsuccessful pharmaceutical enterprises may lose a certain market share. Although the winning pharmaceutical enterprises can exchange volume for price, some winning enterprises cut off supply, indicating that it is not easy to" exchange volume for price ". Generally speaking, centralized procurement has a great impact on the pharmaceutical and medical ecology, and the performance of some relevant enterprises may be affected, but it will also force enterprises to gradually adapt and eventually become more competitive Yu pingwen. "
Pan Helin, executive director of Digital Economy Research Institute of Central South University of economics and law, told reporters: "There are three reasons for the poor performance of the A-share pharmaceutical and biological sector. First, the valuation of the pharmaceutical sector has risen in the past few years, and there is a disconnect between the valuation and performance, which belongs to the valuation regression of the pharmaceutical sector in 2021; second, the impact of volume procurement is a gradual release process, new heavy generic drugs are included one by one, and the impact on pharmaceutical enterprises lags behind. At the same time, new drugs in the pharmaceutical industry in 2021 The development also tends to be inward bound, such as the sharp price reduction of PD-1 new drug due to too many competitors. The superposition of such factors leads to the performance of the pharmaceutical industry in 2021 not in line with expectations; Third, although the epidemic has promoted the demand for biological vaccines and nucleic acid testing, it has also slowed down the demand for chronic disease treatment. "
Compared with the overall performance of the industry, the performance differentiation of various sub industries in the pharmaceutical and biological sector is obvious in 2021.
The data show that among the sub industry indexes, the traditional Chinese medicine index rose by 31.71% in 2021, the medical device index fell by 7.25%, the chemical pharmaceutical index fell by 7.17%, the medical service index fell by 8.67%, the pharmaceutical business index fell by 16.32% and the biological products index fell by 17.45%.
\u3000\u3000 "The reason for the differentiation of various sub industries in the pharmaceutical and biological sector is that different pharmaceutical companies are located in different industrial chains and patterns, such as pharmacy retail and innovative drugs. One is mainly affected by the outflow of prescription drugs and OTC, and the other is mainly affected by the R & D ability of CMO and cro. The difference between the two is like the consumer sector and the technology sector. The differentiation of subdivided sectors has strong sustainability and the head enterprises are concentrated The degree will be higher and higher. " Wu Xijun said.
"The differentiation of various sub industries in the pharmaceutical and biological sector, on the one hand, is due to the epidemic situation, on the other hand, it is due to volume procurement. The epidemic situation in China is sporadic, and the overseas Omicron continues to rage. It is expected that the current differentiation of the pharmaceutical sector will continue." Pan Helin said.
traditional Chinese medicine and in vitro detection section
net profit increased significantly
Despite the poor market performance, there are also some highlights from the 2021 performance forecast released by A-share pharmaceutical and biological listed companies.
For example, in the traditional Chinese medicine sector, Zhejiang Conba Pharmaceutical Co.Ltd(600572) is expected to increase the net profit by 325% to 375% year-on-year in 2021; Teyi Pharmaceutical Group Co.Ltd(002728) it is estimated that the net profit in 2021 will increase by 173.87% to 242.34% year-on-year; Zhejiang Jolly Pharmaceutical Co.Ltd(300181) it is estimated that the net profit in 2021 will increase by 91.44% to 110.58% year-on-year.
"The outstanding performance of the traditional Chinese medicine sector mainly depends on policy support. At present, relevant policies support the use of traditional Chinese medicine in the field of epidemic prevention. At the same time, in recent purchases with quantity, the average decline of traditional Chinese medicine products is lower than that of chemical drugs, and the approval of traditional Chinese medicine has been liberalized in recent years." Pan Helin told reporters.
The net profit of in vitro testing company in 2021 is also bright. Beijing Hotgen Biotech Co.Ltd(688068) it is estimated that the net profit in 2021 will be 2 billion yuan to 2.35 billion yuan, with a year-on-year increase of 1684.65% to 1996.97%; Wuhan Easy Diagnosis Biomedicine Co.Ltd(002932) it is estimated that the net profit in 2021 will increase by 177.23% to 219.88% year-on-year; Zhejiang Orient Gene Biotech Co.Ltd(688298) it is estimated that the net profit in 2021 will increase by 181.45% to 205.31% year-on-year; Guangdong Hybribio Biotech Co.Ltd(300639) it is estimated that the net profit in 2021 will increase by 120.59% to 137.14% year-on-year.
"The reason for the good performance of the in vitro diagnosis sector is that in the two years of repeated epidemic, the epidemic prevention demand is relatively clear, and some enterprises have relatively clear orders. However, when investing in this sector, we still need to pay attention to the changes of epidemic situation." Wu Xijun said.
Guangdong Hybribio Biotech Co.Ltd(300639) recently said on the interactive platform that due to the needs of epidemic prevention and control, the company's covid-19 detection related products are in full production, of which the daily output of covid-19 nucleic acid amplification reagent can reach 600000 people.
"If the epidemic prevention and control needs and market demand increase sharply, the company can increase the daily output of covid-19 nucleic acid amplification reagent to 1 million people in a short time by dispatching manpower and resources." Guangdong Hybribio Biotech Co.Ltd(300639) told reporters.
