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2022 inventory: A-share pharmaceutical companies rose TOP10, ibuprofen took the top spot, and 3 rose by more than 100%

 Last Update: 2023-02-03
 Source: Internet
 Author: User

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Looking back at the rise logic of the top 10 pharmaceutical companies in A-shares in the past three years, it is not difficult to find that they are basically related to the epidemic, and there are different hype themes almost every year
.

It's basically related to the epidemic

For example, the top 10 pharmaceutical companies with an increase in 2020 mainly involve masks, protective products, new crown testing and other businesses, such as Yingke Medical, Wantai Biotechnology, Zhende Medical, Shuoshi Biotechnology, etc.
;

Masks, protective products, new crown testing

The top 10 pharmaceutical companies that rose in 2021 mainly involve antigen testing, preparation equipment (injection), new crown APIs and vaccines, such as Jiuan Medical, Hotjing Biotechnology, Dongfulong, Tuoxin Pharmaceutical, etc
.

Antigen testing, preparation equipment (injections), new crown APIs and vaccines

The upward logic of the top 10 pharmaceutical companies in 2022 has also changed: in addition to being driven by the epidemic (involving fever-reducing drugs, antigen tests, new crown drugs, antiviral drugs, etc.
), some pharmaceutical companies with innovative products or stable growth in performance have also been favored
by the market.

It involves antipyretic drugs, antigen tests, new crown specific drugs, and antiviral drugs

According to the data of Flush Finance, the top ten pharmaceutical companies (excluding medical devices, pharmaceutical businesses, and medical service companies) in A-shares in 2022 are:

Xinhua Pharmaceutical, Zhongsheng Pharmaceutical, Shanghai Yizhong, Weixinkang, Rongchang Biotechnology, Haichen Pharmaceutical, Enhua Pharmaceutical, Yiling Pharmaceutical, Shuangcheng Pharmaceutical, Huatedyne.

Table 1 Top 10 listed pharmaceutical companies in 2022

Table 1

Note: Data as of 2022.
12.
30, excluding medical devices, medical services, pharmaceutical commercial companies

01 "Anti-epidemic" concept theme: "ibuprofen leader" Xinhua Pharmaceutical won the first place

Among the top 10 pharmaceutical companies with A-share gains in 2022, the stock prices driven by epidemic-related conceptual themes include Xinhua Pharmaceutical, Zhongsheng Pharmaceutical, Haichen Pharmaceutical, and Yiling Pharmaceutical
.

Ibuprofen API leader - TOP1 Xinhua Pharmaceutical

In 2022, Xinhua Pharmaceutical rose by 172.
64%, ranking first in the ranking of A-share pharmaceutical companies, with a total market value of 15.
706 billion yuan
as of the close of trading on December 30, 2022.

In 2022, Xinhua Pharmaceutical's stock price has experienced two sharp rises, and both of them are driven
by the concept of the epidemic.

And it's all driven by the concept of the pandemic

Figure 1 Xinhua Pharmaceutical's 2022 stock price chart Image source: Oriental Fortune Network terminal

Figure 1

The first time was from April 20 to May 30, on the express train
of the "new crown medicine" concept.
On April 26, Xinhua Pharmaceutical reached a strategic cooperation with Real Biologics, becoming a manufacturer and distributor
of products such as the new crown oral drug azvudine owned by the latter in China and other countries agreed by both parties.

The second time was from December 5 to December 19, with the liberalization of national epidemic control, ibuprofen and other antipyretic and analgesic drugs were snatched up, and Xinhua Pharmaceutical is the main antipyretic and analgesic drug production and export base
in Asia.

According to relevant information, Xinhua Pharmaceutical's annual production capacity of ibuprofen is as high as 8,000 tons (85% of which is exported to high-end markets in Europe and the United States), and its market share in China has reached 40%, while the ibuprofen API business accounts for about 42%
of the company's revenue.

With the new crown oral medicine, it has the runner-up of the year - TOP2 Zhongsheng Pharmaceutical

In 2022, Zhongsheng Pharmaceutical rose by as much as 127%, ranking second among A-share pharmaceutical companies, with a total market value of 21.
981 billion yuan
as of the close of trading on December 30, 2022.

Since the outbreak of the new crown epidemic, Zhongsheng Pharmaceutical has independently developed RAY1216, an oral anti-new coronavirus 3CL protease inhibitor, and the research and development progress has progressed smoothly:

In August 2022, the phase I clinical study completed the clinical observation of all subjects; Announced in September that it is in a critical preparation phase of Phase II/III clinical studies; In November, a randomized, double-blind, placebo-controlled phase III clinical study for the treatment of patients with mild and common SARS-CoV-2 infection was approved and the first subject enrollment was completed
.

Rub Pfizer new crown API concept - TOP6 Haichen Pharmaceutical

In 2022, Haichen Pharmaceutical rose by 63.
04%, ranking sixth in the ranking of A-share pharmaceutical companies, with a total market value of 3.
864 billion yuan
as of the close of trading on December 30, 2022.

Haichen Pharmaceutical, which is mainly engaged in the research and development, production and sales of chemical preparations, APIs and intermediates, previously launched the research and development plan of raw materials for the treatment of new crown drug nematevir and combination preparation of nematevir tablets/ritonavir tablets (HC-04) in November 2021, and then announced in February 2022 that its holding subsidiary Anqing Huichen "annual output of 100 tons of anti-new crown drug nematevir API and its key intermediates construction project" was recorded
.

In fact, nematevir is one of the main ingredients of Pfizer's new crown oral drug nematevir tablets/ritonavir tablets combination packaging (Paxlovid), and the patent for nematevir compound belongs to Pfizer
.

On February 24, Haichen Pharmaceutical clarified the "scandal" with Pfizer: the nematevir API studied by the company was not authorized by Pfizer, and could not be sold to the outside world due to patent protection, and was only used
by the company's scientific research.

Lianhua Qingwen faucet - TOP8 Yiling Pharmaceutical

In 2022, Yiling Pharmaceutical rose by 55.
23%, ranking eighth in the A-share pharmaceutical company's growth ranking, with a total market value of 50.
054 billion yuan
as of the close of trading on December 30, 2022.

Yiling Pharmaceutical's Lianhua Qingwen product is the most frequently recommended patented proprietary Chinese medicine in the diagnosis and treatment plan of new coronary pneumonia, and has been listed as a light and common recommended drug in the clinical treatment period (confirmed cases), and has been approved for marketing
in nearly 30 countries and regions.

According to the financial report, in 2021, Lianhua Qingwen products achieved revenue of 4.
06 billion yuan, accounting for 40.
15%
of Yiling Pharmaceutical's total revenue.
In the sales revenue ranking of over-the-counter cold medicine in China's public medical market, Lianhua Qingwen granules/capsules ranked first with a market share of 41.
78%, and ranked first
in the sales of cold medicine/antipyretic at retail terminals.

02Innovative products & stable performance growth: Remegen Biotechnology, Weixin Kang.
.
.

Among the top 10 pharmaceutical companies with A-share gains in 2022, Shanghai Yizhong, Weixinkang, Remegen Biologics, Enhua Pharmaceutical, Shuangcheng Pharmaceutical, and Huatedyne
are favored by the market due to their innovative products or steady growth.

The first commercial product achieved outstanding results - TOP3 Shanghai Yizhong

In 2022, Shanghai Yizhong rose by 111.
52%, ranking third in the A-share pharmaceutical company's growth ranking, with a total market value of 10.
043 billion yuan
as of the close of trading on December 30, 2022.

Shanghai Yizhong is mainly engaged in the development of innovative drugs and related products, and currently has only one commercial product, a class 2.
2 innovative drug (not listed at home and abroad) paclitaxel polymer micelles for injection, which has been approved by the State Food and Drug Administration in October 2021 for the first-line treatment of non-small cell lung cancer
.

Paclitaxel polymer micelles for injection is an innovative dosage form of paclitaxel, the best-selling anti-tumor drug currently on the market, and has obvious clinical advantages
in objective response rate (ORR) and progression-free survival (PFS) over other paclitaxel dosage forms on the market.

According to the financial report, paclitaxel polymer micelles for injection achieved sales revenue of 4.
0775 million yuan in the first year of listing, and the sales revenue in the first three quarters of 2022 was even more eye-catching, reaching 34.
34 million yuan, 37.
53 million yuan and 94.
45 million yuan
respectively.

On December 30, Shanghai Yizhong also released the 2022 annual performance forecast: it is expected to achieve a net profit attributable to the parent of 150 million yuan to 160 million yuan, compared with a value of -3.
9971 million yuan in the same period of the previous year, and the company has turned from a loss to a profit
.

Figure 2 Shanghai Yizhong performance in the first three quarters of 2022 Image source: Flush

Figure 2

Single-quarter revenue hit a record high - TOP4 Weixinkang

In 2022, Weixinkang rose by 74.
37%, ranking fourth in the A-share pharmaceutical company's growth ranking, with a total market value of 6.
928 billion yuan
as of the close of trading on December 30, 2022.

Weixinkang is a leading enterprise of parenteral nutrition drugs in China, mainly engaged in the research and development, production and sales of chemical preparations and their APIs, and has strong competitiveness in the fields of complex vitamins, trace elements, electrolytes and other fields, leading products include multivitamins for injection (12), a variety of trace element injections, pediatric multivitamin injections (13), compound electrolyte injections (V), has initially formed a product portfolio matrix
.

In terms of performance, in the first three quarters of 2022, the total revenue was 1.
067 billion yuan, a year-on-year increase of 41.
96%, and the net profit attributable to the parent was 151 million yuan, a year-on-year increase of 83.
33%, of which the total revenue and net profit have exceeded the level
of the whole year of 2021.
In addition, the revenue in the third quarter of 2022 reached about 400 million yuan, a record high
.

Figure 3 Weixinkang's performance in the first three quarters of 2022 Image source: Flush

Figure 3

ADC leader - TOP5 Remegen Biotechnology

In 2022, Remegen Biotech rose by 68.
46%, ranking fifth among A-share pharmaceutical companies, with a total market value of 37.
289 billion yuan
as of the close of trading on December 30, 2022.

Remegen has been focusing on therapeutic antibody drugs such as antibody drug conjugates (ADCs), antibody fusion proteins, monoclonal antibodies and bispecific antibodies, and currently has two blockbuster commercial products, Tatacept (RC18) and vedicitumab (RC48), and has developed more than 20 candidate biological drug products, covering major diseases such as tumor, autoimmunity, and ophthalmology
.

In terms of performance, in the first three quarters of 2022, the total revenue was 570 million yuan, a year-on-year increase of 397.
47%, but it is still in a loss state, with a net profit loss of 688 million yuan
in the same period.

The leader in the subdivision of central nervous system drugs - TOP7 Enhua Pharmaceutical

In 2022, Enhua Pharmaceutical rose by 58.
9%, ranking seventh among A-share pharmaceutical companies, with a total market value of 24.
736 billion yuan
as of the close of trading on December 30, 2022.

Enhua Pharmaceutical is mainly engaged in the production and manufacturing of central nervous system products (including anesthesia, psychiatric and neurological pharmaceutical raw materials and their preparations), and is also the only listed enterprise
in the domestic pharmaceutical industry focusing on the central nervous system drug segment.

In terms of product research and development, Enhua Pharmaceutical has more than 70 scientific research projects under research and invested 209 million yuan in scientific research, an increase of 33.
40%
over the same period of the previous year.
In terms of innovative drug research and development, there are currently more than 20 innovative drug projects
under development.

In terms of performance, in the first three quarters of 2022, the total revenue reached 3.
120 billion yuan, a year-on-year increase of 7.
89%; The net profit attributable to the parent was 742 million yuan, a year-on-year increase of 10.
25%.

Previously, the company also disclosed the 2022 full-year performance forecast: it is expected to achieve a net profit attributable to the parent of 837.
7 million yuan to 997.
2 million yuan, an increase of 5% to 25%, mainly due to
the growth of the company's main business income.

Peptide drug leader - TOP9 Shuangcheng Pharmaceutical

In 2022, Shuangcheng Pharmaceutical rose by 54.
03%, ranking ninth in the ranking of A-share pharmaceutical companies, with a total market value of 3.
015 billion yuan
as of the close of trading on December 30, 2022.

Shuangcheng Pharmaceutical is mainly engaged in the research and development, production and sales of chemically synthesized peptide products, has successfully developed a number of chemically synthesized peptide drugs and 20 other various therapeutic drugs, and a number of peptide varieties (including APIs and preparations) have been approved and marketed in developed countries, among which the leading product thymus fasin for injection (Kitai) has landed in the Italian market, and bivalirudin and etibatide injection for injection has obtained the marketing authorization
of the US FDA and the State Food and Drug Administration.

In November 2022, Shuangcheng Pharmaceutical said that its generic drug application for paclitaxel (albumin-bound type) for injection submitted to the FDA on March 3, 2022, US time, is in the technical review stage
.
Previously, on September 25, Shuangcheng Pharmaceutical granted Meitheal and HKF
an exclusive license to develop and manufacture paclitaxel (albumin-bound form) for injection in the United States.

On December 27, 2022, Shuangcheng Pharmaceutical submitted a patent challenge to the US FDA for the Simplified New Drug Application (ANDA) for paclitaxel for injection (albumin-binding type), and has issued a patent challenge notice to the original marketing authorization holder and patent holder for paclitaxel (albumin-binding type) in order to enter the US market
in advance of the expiration of the patent.

The leading consumer of children's medicine and health - TOP10 Huatdyne

In 2022, Huatedyne rose by 53.
41%, ranking tenth in the ranking of A-share pharmaceutical companies, with a total market value of 10.
662 billion yuan
as of the close of trading on December 30, 2022.

Huate Dayin operates a variety of businesses, including pharmaceutical products, education, science and technology park management, electronic information products, crystal materials, etc.
, but the main income comes from pharmaceutical products, and in the first half of 2022, it achieved revenue of 1.
079 billion yuan, accounting for 88.
06% of the company's total revenue, and the gross profit margin of sales was as high as 87.
08%.

The pharmaceutical industry of Huatdyne is operated by its subsidiary, Dyne Pharmaceutical, which focuses on the field of children's health care and treatment, and its products include children's medicines, health foods, nutritional foods and health care products
.
Among them, children's drugs have formed the leader of Yikexin (ranking first in the market share of similar products for many years), including Yidxin, Yijiaxin, Gai Dixin, pediatric ibuprofen suppository and desloratadine oral liquid and other children's drugs
.

In terms of performance, the total revenue in the first three quarters of 2022 was 1.
819 billion yuan, a year-on-year increase of 15.
67%; The net profit attributable to the parent was 462 million yuan, a year-on-year increase of 45.
1%.

Among them, the net profit attributable to the parent has exceeded the net profit of 2021 (380 million yuan), mainly due to the profit growth of the pharmaceutical business and the continuous enhancement of profitability, the overall sales gross profit margin in the same period was as high as 79.
98% and the net profit margin of sales was 47.
56%, both higher than the overall level
of 2021.

Table 2 Business performance of Huatedyne (RMB, %)

Table 2

03 Epilogue

To sum up, in recent years, many A-share pharmaceutical companies have benefited from the promotion of the new crown epidemic and have been favored by the capital market, but some pharmaceutical companies with innovative products or stable growth in performance have been recognized
by the market despite the "cold winter" of the pharmaceutical industry.

From the above inventory, it can also be found that the concept of the new crown epidemic is constantly changing, but with the liberalization of national epidemic control, the growth logic of the pharmaceutical industry in the future will also return to pharmaceutical companies with real competitive advantages
.

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