Key investment points:
This week, SW pharmaceutical and biological industry significantly lost the Shanghai and Shenzhen 300 index. From January 17 to January 21, 2022, the SW pharmaceutical and biological industry index fell by 7.19%, ranking the first, losing about 8.3 percentage points to the Shanghai and Shenzhen 300 index in the same period. The biggest decline in the pharmaceutical and biological industry this week was mainly due to the fact that growth hormone was included in the procurement list of Guangdong alliance, and the maximum effective declared price of water needle decreased significantly compared with the current market price, causing the market to worry about policy risks. All segments of the pharmaceutical and biological industry recorded negative returns this week. Among them, biological products fell the most, mainly due to the sharp decline of Changchun High And New Technology Industries (Group) Inc(000661) .
This week, the pharmaceutical and biological industry saw a slight net inflow. From January 17 to January 21, 2022, the land stock connect had a net inflow of 29.197 billion yuan, of which the Shanghai Stock connect had a net inflow of 19.735 billion yuan and the Shenzhen Stock connect had a net inflow of 9.462 billion yuan. In the Shenwan industry, the net inflow of the financial sector ranks first, and the net outflow of commercial retail and home appliances ranks first. The net inflow of the pharmaceutical and biological industry this week was 53 million yuan, an increase over the previous week.
Industry news: the seventh batch of national centralized purchase began to report the quantity, involving 58 varieties and 208 product specifications, including 20 product specifications for clindamycin phosphate injection, 9 product specifications for lidocaine injection, and 7 product specifications for ondansetron injection, octreotide injection and methylprednisolone injection. Guangdong Provincial Drug Trading Center issued the "Guangdong alliance diclofenac and other drugs centralized volume procurement document". A variety of recombinant human growth hormone were involved, and blood products entered the scope of volume procurement for the first time.
Maintain the recommended rating of the industry. Recently, the market has increased concerns about the policy risk of the pharmaceutical and biological industry. With the seventh batch of national mining coming soon, the sectors and individual stocks greatly affected by the policy are expected to remain suppressed. It is suggested to pay attention to the policy immunization sector, such as maintaining a good advantage of CXO leaders, such as Wuxi Apptec Co.Ltd(603259) (603259), Hangzhou Tigermed Consulting Co.Ltd(300347) (300347), Pharmaron Beijing Co.Ltd(300759) (300759), Joinn Laboratories (China) Co.Ltd(603127) (603127), Asymchem Laboratories (Tianjin) Co.Ltd(002821) (002821), Kyushu Pharmaceutical (603456), Porton Pharma Solutions Ltd(300363) (300363), etc. Scientific services, focusing on Sino Biological Inc(301047) (301047), Nanjing Vazyme Biotech Co.Ltd(688105) (688105), etc. Medical devices: focus on platform faucet Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) (300760), medical beauty faucet Imeik Technology Development Co.Ltd(300896) (300896), pharmaceutical equipment faucet Tofflon Science And Technology Group Co.Ltd(300171) (300171) and Truking Technology Limited(300358) (300358), rehabilitation medical device faucet Xiangyumedicalco.Ltd(688626) (688626), Nanjing Vishee Medical Technology Co.Ltd(688580) (688580), etc. In the short term, retail pharmacy leaders Dashenlin Pharmaceutical Group Co.Ltd(603233) (603233), Yifeng Pharmacy Chain Co.Ltd(603939) (603939), Yixintang Pharmaceutical Group Co.Ltd(002727) (002727), Lbx Pharmacy Chain Joint Stock Company(603883) (603883) are expected to benefit from the dual channel of negotiated drugs and usher in an inflection point. The policy side of the traditional Chinese medicine industry is relatively friendly. It is suggested to pay attention to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) (600436), Yunnan Baiyao Group Co.Ltd(000538) (000538), Beijing Tongrentang Co.Ltd(600085) (600085), Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) (600332), China Resources Sanjiu Medical & Pharmaceutical Co.Ltd(000999) (000999), Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) (002603), etc. with brand value and exclusive product advantages.
Risk tips: repeated epidemics, research and development failures, intensified industry competition, policy risks, product safety and quality risks, etc.
