Market review: last week, the A-share pharmaceutical and biological index rose 2.41%, outperforming the CSI 300 index by 4.40pp, outperforming the gem composite index by 1.20pp, ranking first among 28 sub industries, with excellent performance, mainly due to the excellent performance of the epidemic related industrial chain. The H-share Hang Seng medical health index closed up 7.07% last week, outperforming the Hang Seng state-owned enterprise index by 3.14pp and ranking first among the 11 wind Hong Kong industry sectors.
Tracking of R & D Progress of listed companies: last week, the listing applications for rituximab injection of Zhengda Tianqing, Zhejiang Hisun Pharmaceutical Co.Ltd(600267) trastuzumab for injection and zebetozumab injection of Borui biology were newly undertaken, and the NDA applications for aripiprazole oral film, Betta Pharmaceuticals Co.Ltd(300558) voronib tablets and Sichuan Kelun Pharmaceutical Co.Ltd(002422) sildenafil citrate oral film of lippin pharmaceutical were newly undertaken, Green leaf pharmaceutical’s application for the production of goserelin acetate sustained-release microspheres for injection is new. Engoreximab of Shanghai Junshi Biosciences Co.Ltd(688180) and hsk16149 of Haisco Pharmaceutical Group Co.Ltd(002653) medicine are in phase III clinical practice; Xtr004 and xtr003 of Xiantong international medicine and hrs4800 of Jiangsu Hengrui Medicine Co.Ltd(600276) are undergoing phase II clinical treatment; Hs-10375 of hausen pharmaceutical, Jiangsu Hengrui Medicine Co.Ltd(600276) shr8554 and lpm3770164 of green leaf pharmaceutical are in phase I clinical trials.
This week’s view: the in vitro diagnosis sector is active and grasp the short, medium and long-term opportunities of the industry
The in vitro diagnosis sector was active this week. The main catalytic factors were the detection opportunities brought to companies in the sector by the repeated covid-19 epidemic outside China and the excellent performance forecast of some enterprises. Combined with the recent epidemic situation and the development trend of in vitro diagnosis industry in the future, we believe that we can focus on three opportunities: 1) in the short term, we should pay attention to the covid-19 antigen detection opportunities brought by the epidemic in Europe and America, and it is recommended to pay attention to Zhejiang Orient Gene Biotech Co.Ltd(688298) ; 2) In the medium term, it is recommended to pay attention to the opportunities for routine business growth brought by covid-19 epidemic. It is recommended to pay attention to Nanjing Vazyme Biotech Co.Ltd(688105) , and Bgi Genomics Co.Ltd(300676) , Shanghai Zj Bio-Tech Co.Ltd(688317) , Sansure Biotech Inc(688289) . 3) In the long run, pay attention to the opportunities for rapid recovery of relevant sub industries after the normalization of the epidemic. It is recommended to pay attention to Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Autobio Diagnostics Co.Ltd(603658) , and Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) .
Investment strategy in 2022: know the constant changes, keep the integrity and innovate. Based on the changes and invariance of pharmaceutical investment, we believe that we should actively grasp the investment opportunities in the direction of innovation and internationalization in the future. In terms of innovative drugs and vaccines, Xinda Biology (H) and Rongchang Biology (H) are recommended; In terms of CXO, Yao Mingsheng (H), Pharmaron Beijing Co.Ltd(300759) , Shanghai Haoyuan Chemexpress Co.Ltd(688131) , Pharmablock Sciences (Nanjing) Inc(300725) are recommended; In the field of equipment and Life Sciences, Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , minimally invasive medicine (H), Shinva Medical Instrument Co.Ltd(600587) , Amoy Diagnostics Co.Ltd(300685) , Iray Technology Company Limited(688301) ; In terms of innovative cutting-edge technologies, pay attention to unlisted enterprises such as Aibo biology; For domestic consumption, we recommend Jinxin reproduction (H), Lbx Pharmacy Chain Joint Stock Company(603883) , Shandong Wit Dyne Health Co.Ltd(000915) , Boya Bio-Pharmaceutical Group Co.Ltd(300294) .
Risk analysis: price reduction risk of drugs / consumables; Industry “black swan” event; Risk of R & D failure.
