28.2 billion! 101 pharmaceutical companies' R&D expenses exposed, Hengrui "smashed" 1.4 billion in 3 months

Recently, the disclosure of the third quarter performance report of the listed companies in 2019 has come to an end According to incomplete statistics, 101 of the listed pharmaceutical companies of a shares and Hong Kong shares have R & D expenses of more than 50 million yuan, including 56 pharmaceutical companies with R & D expenses of more than 100 million yuan in the first three quarters, and 3 pharmaceutical companies of Baiji Shenzhou, Hengrui and Fosun have a total of nearly 10 billion yuan The R & D investment of 8 patent pharmaceutical companies has increased year-on-year, with 14 pharmaceutical companies having R & D investment Development investment accounted for more than 10% of the operating revenue, and seven pharmaceutical enterprises such as xinlitai and Kangyuan pharmaceutical were established Table 1: A-share and Hong Kong listed pharmaceutical companies with R & D expenses exceeding 50 million in the first three quarters of 2019 Note: the undisclosed quarterly report or R & D expenses are not included; the industrial and non industrial income is not disclosed in the quarterly report, and R & D accounts for the proportion of revenue reuse / expression; the exchange rate is calculated on November 19 In the first three quarters of 2019, the R & D expenses of 101 pharmaceutical companies totaled about 28.214 billion yuan, including 56 pharmaceutical companies with R & D expenses exceeding 100 million yuan, Baiji Shenzhou, Hengrui pharmaceutical and Fosun Pharmaceutical companies with R & D expenses exceeding 1 billion yuan, with a total R & D expenses of about 9.7 billion yuan, accounting for more than 10% of revenue Baiji Shenzhou's R & D expenses in the first three quarters of 2019 reached 644 million US dollars (about 4.524 billion yuan), an increase of 52.79% year-on-year, accounting for 173.58% of the operating revenue, of which the R & D expenses in the third quarter reached 237 million US dollars (about 1.665 billion yuan) At present, Baiji Shenzhou has submitted two class 1 new drug marketing applications in China, namely, tirelizumab injection (PD-1) and zambutinib capsule (Btk inhibitor) Zambutinib has been approved by the US FDA on November 14, and tirelizumab has been updated to be "under approval" in China, and will be on the market soon In addition, in November 1, Baiji Shenzhou announced the establishment of a global cancer strategic cooperation relationship with Amgen, and the development and commercialization of desurmab injection (trade name: angavi), kafezomib for injection and bilintomolobin for injection in China At the same time, 20 Amgen anti-tumor pipeline drugs were jointly developed Amgen has agreed to buy a 20.5% stake in Baiji Shenzhou for about $2.7 billion, which is expected to be completed in early 2020 In the first three quarters of 2019, Hengrui pharmaceutical spent 2.899 billion yuan on R & D, up 66.97% year-on-year, accounting for 17.11% of its operating revenue, including 1.415 billion yuan on R & D in the third quarter In terms of innovative drugs, at present, arixib, apatinib, pyrrolidine and carrizumab (PD-1) have been approved for listing According to the data of mienei.com, in 2018, the sales of apatinib terminal in public medical institutions in China exceeded 2 billion yuan In addition, two class 1 new drugs, fluzopali and rimazolom, have been applied for listing; in terms of consistency evaluation, at present, the company has 10 varieties passed or deemed to pass the consistency evaluation, of which desflurane for inhalation, temozolomide for injection and tamsulosin hydrochloride sustained-release capsule are the exclusive ones, while letrozole tablet, ambroxol hydrochloride tablet and tegio capsule are the first ones In the first three quarters of 2019, R & D expenses of Fosun Pharmaceutical reached 2.253 billion yuan, an increase of 20.7% over the same period of last year, accounting for 10.62% of operating revenue, of which R & D expenses in the third quarter reached 903 million yuan In February this year, the State Food and Drug Administration approved the listing of the first biologically similar drug in China, which is rituximab injection of Fuhong Hanlin (trade name: hanlikang) In addition, the company's adamumumab biosimilar drug and trastuzumab biosimilar drug have been declared for listing In terms of consistency evaluation, 15 varieties of Fosun medicine have passed or deemed to have passed the consistency evaluation, among which alfacalcohol tablets, Azithromycin Capsules, pyrazinamide tablets, quetiapine fumarate tablets, rifampicin capsules, potassium chloride granules and venlafaxine hydrochloride tablets are the exclusive ones, amlodipine besylate tablets, clindamycin hydrochloride capsules and indapamide tablets are the first ones In recent years, driven by policies, R & D innovation has become the main theme of the development of the pharmaceutical industry Among the 101 pharmaceutical enterprises with R & D expenses of more than 50 million in the first three quarters of 2019, 81 pharmaceutical enterprises' R & D expenses increased year on year, 14 pharmaceutical enterprises' R & D expenses accounted for more than 10% of the operating revenue, 7 pharmaceutical enterprises including Kangchen pharmaceutical, Jiudian pharmaceutical, xinlitai, Hengrui pharmaceutical, Antu biology, Kangyuan pharmaceutical and Baiji Shenzhou pharmaceutical increased more than 50% year on year, and the R & D expenses accounted for more than 50% of the operating revenue The proportion is more than 10% In the first three quarters of 2019, R & D expenses of xinlitai reached 595 million yuan, an increase of 98.73% over the same period of last year, accounting for 16.69% of operating revenue Clopidogrel is a key product of xinlitai, accounting for nearly 70% of the company's revenue However, the product was included in the 4 + 7 centralized mining In the first batch of centralized mining, xinlitai won the bid with a decrease of more than 60% to win the market in 11 cities However, in the expansion of centralized mining carried out recently, xinlitai was unfortunately out Xinlitai is a leading domestic cardiovascular and cerebrovascular enterprise, which forms complementary product advantages through innovation, first imitation or first evaluation At present, the company has 7 varieties passed or deemed to pass the consistency evaluation, including 5 for cardio cerebrovascular drugs, benazepril hydrochloride tablets, desloratadine tablets, pivastatin calcium tablets, levetiracetam sustained-release tablets as the exclusive review, tegrilol tablets, clopidogrel bisulfate tablets as the first review; 4 class 1 new drugs applied for clinical application, including 2 for cardio cerebrovascular drugs Kangyuan Pharmaceutical Co., Ltd spent 354 million yuan on R & D in the first three quarters of 2019, a year-on-year increase of 55.65%, accounting for 10.5% of operating revenue Kangyuan pharmaceutical industry adheres to the drive of innovation, promotes the modernization of traditional Chinese medicine, and actively distributes the fields of chemical medicine and biological medicine At present, the company has obtained 203 drug production approval documents (including 44 production approval documents of subsidiaries), of which 44 are exclusive varieties of traditional Chinese medicine; meanwhile, around the large varieties of listed traditional Chinese medicine, the company has carried out evidence-based medicine clinical re evaluation research and basic research, steadily promoted the clinical trials of five varieties of Ginkgo diterpenoid lactone glucosamine injection, and actively carried out the clinical registration of Guizhi Fuling Capsule in the United States In addition, 5 class 1 new drugs have been applied for clinical application, and 3 of them have been approved for clinical application.