67 Chinese listed pharmaceutical companies increased their R & D investment by 25% in 2014

In the pharmaceutical industry, R & D capability is an important evaluation index to measure the future development of a pharmaceutical enterprise The proportion of R & D expenditure to operating revenue (hereinafter referred to as R & D ratio) is one of the common specific parameters With the support of national policies, the R & D level of domestic biomedical companies has been improved According to data from tonghuashun, as of March 25, a total of 67 listed companies in the pharmaceutical industry announced their R & D expenditure in 2014, totaling about 5.356 billion yuan Compared with the investment of 4.271 billion yuan in 2013, the R & D investment of listed pharmaceutical companies increased by 25% in 2014 In addition, according to data from tonghuashun, the average proportion of R & D expenses of these 67 listed pharmaceutical enterprises in operating revenue increased from 4.6% in 2013 to 4.9% in 2014 In an interview, Shi lichen, head of Beijing Dingchen pharmaceutical management consulting center, said that in 2014, the R & D investment of pharmaceutical enterprises continued to grow, especially in the field of generic drugs However, it is worth noting that under the guidance of the national policy of increasing support for innovative enterprises and encouraging innovation to become the driving force of enterprise development, compared with large pharmaceutical enterprises in Europe and the United States, the R & D investment of domestic pharmaceutical enterprises is not high The R & D expenses are increased to listed companies specifically There are 16 listed companies with R & D expenses of more than 100 million yuan, among which R & D expenses of Fosun Pharmaceutical, humanwell pharmaceutical, Lizhu group, Baiyunshan, Harbin Pharmaceutical Co., Ltd and China Resources Sanjiu are the top But compared with the proportion of R & D expenses in the operating revenue of listed companies, it is another scenario According to the data, among the 67 pharmaceutical listed companies that have announced their R & D expenditure in 2014, 26 companies have R & D expenditure accounting for more than 5% of their operating revenue, of which Watson biological R & D expenditure accounts for more than 30% of their operating revenue, followed by Anke biological R & D expenditure accounting for nearly 16% of their operating revenue In addition, the R & D expenses of Guanhao biology, hisic, Hanyu pharmaceutical and Shuangcheng pharmaceutical have accounted for more than 10% of the operating revenue It is understood that under the impact of the patent cliff from 2013 to 2017, the speed of new drug listing has sharply decreased At the same time, countries have issued policies to support the development of generic drugs, and the market scale of generic drugs will be significantly expanded in the future By 2017, the market share of generic drugs will increase to 36% "In the face of a huge market, relevant domestic enterprises have also increased R & D investment." He told reporters However, the R & D investment of some pharmaceutical enterprises is lack of sincerity According to the data of tonghuashun, the R & D investment of 41 enterprises is less than 5% Its R & D investment proportion of China Pharmaceutical Co., Ltd., Taiji group, Guoyao Tongyi, guangyuyuan, Tongrentang, Southwest Pharmaceutical and other companies is less than 1% Some analysts introduced to reporters that each company's R & D investment is different and has a close relationship with its industry For example, in the field of chemical pharmacy, the average proportion of R & D investment in business income is 4.5% In the field of traditional Chinese medicine, R & D investment accounts for only 2.8% of business income In the field of Biopharmaceutics, the average is 8% In the field of medical devices, the average is 7% For pharmaceutical commercial enterprises, the overall R & D investment is not high An analyst told reporters that at present, most of the areas with high R & D investment in the domestic pharmaceutical industry are concentrated in the field of biomedicine However, compared with the proportion of R & D investment in sales volume of large pharmaceutical enterprises in Europe and America, the R & D cost of most pharmaceutical enterprises is not high The dilemma between R & D and performance for enterprises, to increase R & D investment will reduce the profits of enterprises to a certain extent How to deal with the relationship between the long-term development of enterprises and the real interests has always been their consideration According to Watson bio, during the reporting period, the company further increased R & D investment, increased resource integration and sharing within the group in R & D, and actively promoted the R & D Progress of products under research and the registration progress of products that have been applied for registration As of the end of the reporting period, 21 products of the company have entered the application and registration stage, of which 12 products are applying for clinical research and 6 products are in the clinical research stage 3 products are applying for production approval At the same time, the company has more than 10 products in preclinical research The company spent 226 million yuan on R & D in 2014 It is worth noting that the increase of R & D expenses of listed companies will also have an impact on the company's operating profit The R & D expenditure of Watson biology in 2013 was 69.1 million yuan, and the R & D investment in 2014 increased by 227% The company said in its annual report that the substantially increased R & D investment has also affected the operating profit of listed companies to a certain extent Data shows that in 2014, Watson biological's operating revenue reached 719 million yuan, a year-on-year increase of 23%; the net profit attributable to the common shareholders of the listed company was 143 million yuan, a year-on-year increase of 199.47%; after deducting the non recurring profit and loss, the company realized the net profit attributable to the common shareholders of the listed company was 443 million yuan "This is also a problem for enterprises New drug R & D costs a lot and takes a long time Some enterprises prefer to purchase new drugs through M & a rather than through their own R & D " An analyst, who declined to be named, told reporters.