“It is generally expected in the industry that the seventh batch of national drug centralized purchase meeting will be launched in the first quarter of this year, and the recently issued documents also meet the expectations of the market.” Tian Xinjie, a researcher of Senrui investment medicine, told the Securities Daily that with the normal operation of centralized procurement, both the pharmaceutical industry and the capital market have full psychological expectations for the arrival of centralized procurement, and there will basically be no major market fluctuations.
Recently, Hunan, Ningxia, Shanxi and other provinces announced the notice on submitting the seventh batch of procurement data related to the variety range of centralized drug procurement organized by the state. The document shows that the national centralized drug procurement will officially start reporting on January 26. All provinces will import the historical procurement data of 2021 for the reference of medical institutions, and medical institutions will fill in the relevant drug procurement demand as required, On February 25, all provinces completed the review of relevant drug procurement demand and submitted it to the joint procurement office.
more pharmaceutical enterprises adapt to the rhythm of centralized procurement
The national drug gathering has launched six batches of 7 rounds (including “4+7 collection and expansion”). The first five batches focused on the field of chemical medicine, and the Sixth Batch of diabetes special collection was the first time that biological drugs were introduced into the national drug collection. The seventh round of centralized mining again focused on chemical drugs, involving 59 varieties and 208 product specifications, including many large varieties with the order of 100 million yuan.
Zhang Yanjie, founder of Fengyun pharmaceutical talk, told the Securities Daily that this round of centralized purchase will be the most intense competition in previous national drug centralized purchase. In the previous five largest batches of national drug centralized purchase, the product competition is generally 3-6. Referring to the number and scale of evaluated enterprises, it is expected that the number of competitors of this product will generally rise to 4-7, There are 13 competing enterprises for three products, and the number of competitors for omeprazole injection even reaches 25. The increase in the number of entrepreneurs participating in the competition, on the one hand, will increase the intensity of price competition, on the other hand, it also shows that more and more pharmaceutical enterprises adapt to the rhythm of centralized procurement.
The field of drug treatment involves many fields, including diabetes, cardiovascular, nervous system and so on. Among them, there are 7 kinds of antibacterial drugs. Besides common cefixime and roxithromycin, there are 4 special use grade antibiotics, besides octreotide injection, Iopamidol Injection, Clindamycin injection and other large varieties with sales of more than 100 million yuan have also been included in the list of centralized purchase. Many products have passed the consistency evaluation, and more than 10 enterprises can participate in centralized purchase.
Xu Yang, chief economist of Hong Kong Zhongrui fund, analyzed the reporter of Securities Daily that under the normalization of centralized mining, the increase in the number of enterprises participating in centralized mining bidding will inevitably lead to more fierce price competition. Therefore, pharmaceutical enterprises with high market share and rich income in the past will face a greater impact. Those pharmaceutical enterprises that have just passed the consistency evaluation can rely on the advantages of “barefoot varieties” to occupy the market share of the original pharmaceutical enterprises with lower prices and realize the exchange of quantity for price. The incentive of centralized purchase competition puts forward higher requirements for the industrial chain coordination ability of pharmaceutical enterprises. Only by reducing production costs can pharmaceutical enterprises gain more market share in centralized purchase.
transformation research and development can reduce the pressure of centralized production
Among the drugs shortlisted in this round of centralized purchase, in addition to the drugs with sales of more than 100 million, there are also some star drugs, such as oseltamivir, which is the best-selling anti influenza drug at present, with annual sales of more than 6 billion yuan.
Guangdonghectechnologyholdingco.Ltd(600673) drug occupies a dominant market position in this drug, while Borui pharmaceutical, Sichuan Kelun Pharmaceutical Co.Ltd(002422) and Guangdong Zhongsheng Pharmaceutical Co.Ltd(002317) newly entered in 2021 are its competitors. Although oseltamivir has entered the collection catalogue, the share price of Guangdonghectechnologyholdingco.Ltd(600673) drugs has not been significantly affected. On the one hand, the proportion of oseltamivir in Guangdonghectechnologyholdingco.Ltd(600673) drug turnover has been decreasing gradually due to the epidemic situation. On the other hand, the company has stepped up the layout of antiviral drugs, antitumor drugs and diabetes, and some of them have been approved to go public. Reduced dependence on a single variety.
Zhang Cuixia, chief investment adviser of Jufeng investment, told reporters that the short-term centralized purchase directly affected drug prices and enterprise performance, and also led to the withdrawal of speculative funds in pharmaceutical stocks. In the medium and long term, centralized procurement can promote the localization process and innovation ability of pharmaceutical enterprises, help local pharmaceutical enterprises become stronger and bigger, and the high barriers and strong R & D strength of pharmaceutical leading enterprises also play an important role in the benign development of the pharmaceutical market. Therefore, the impact of centralized procurement on the pharmaceutical sector has gradually become positive.
Under the influence of centralized procurement, more and more pharmaceutical companies are engaged in pharmaceutical R & D and medical services. The market heat of the pharmaceutical sector and the focus of investors’ attention are also shifting towards pharmaceutical innovation and industrial upgrading. Guosen Securities Co.Ltd(002736) senior researcher Zhang Lichao told reporters that high-quality pharmaceutical enterprises with scale advantages, strong independent innovation ability, diversified business layout and rich product pipelines will stand out, and their sales capacity will be further weakened. Through the survival of the fittest mechanism, the pharmaceutical sector as a whole will develop in an intensive, standardized and healthy direction.
