Blood products industry: within one month, one company went public and three large-scale M & A events occurred

Within one month, a domestic blood product company was listed, and three large-scale mergers and acquisitions occurred The development trend in the field of blood products is to be strong, to merge and integrate small and medium-sized enterprises, and enterprises with more pulp station resources and product approvals will have the opportunity to seize more market shares and opportunities Wen| Muyi blood products refer to all kinds of human plasma protein products separated and extracted from human plasma Human blood is divided into four parts: plasma, red blood cells, white blood cells and platelets, of which plasma accounts for only 50%, while plasma is divided into water, sugar electrolyte and protein, of which protein accounts for only 7% Blood products are separated and purified from these 7% proteins, mainly including human albumin, immunoglobulin, coagulation factor and other protein components Doubling plan to improve blood products supply and demand Blood products market is a medical market with high policy impact and high market barriers In view of its strict safety requirements and special attributes related to the national economy and the people's livelihood, the industry is most strictly regulated Since 2000, the country has not added any new blood product manufacturers At present, there are 32 blood products manufacturing enterprises in China, which are distributed in 25 provinces In addition, in order to reduce the risk of virus in blood products as much as possible, the collection of plasma protein in China can only be conducted by the method of single collection of plasma Therefore, for a long time, China's blood products have been in a state of serious oversupply It is understood that in 2015, China's plasma collection volume was only 5846 tons, and in 2016, the plasma collection volume was about 6800 tons The annual clinical demand of plasma in China is about 10000 ~ 13000 tons In order to make up the gap, China has liberalized the import license of human blood protein products and recombinant coagulation factors to make up for the current market shortage At the same time, China has also increased the number of single plasma collection stations to meet the requirement of rapidly increasing plasma collection in a short period of time As a result, the number of plasma stations in China increased rapidly from 146 in 2011 to 225 in 2016 Three favorable factors promote the domestic blood products market From the perspective of the market scale and growth of blood products in China, the market scale in 2010 was about 8.44 billion yuan, and by 2014 it was about 19.4 billion yuan, with a compound annual growth rate of 23.2% It is expected that the market scale of blood products in China will reach 54.6 billion yuan by 2019, with a compound annual growth rate of 22.4% from 2015 to 2019 The scale and growth of China's blood products market is slowing down in the overall growth of the pharmaceutical industry, especially in the context of sluggish growth of the hospital market As a new growth highlight, blood products mainly benefit from three major influencing factors The expansion of clinical indications from the perspective of per capita consumption, the per capita consumption of blood products in China is also significantly lower than that in European and American countries, especially in immunoglobulin products and coagulation factor products According to the statistical report of MRB Research Institute, the per capita consumption of immunoglobulin and coagulation factor in North America in 2014 was 15.8 times and 15.9 times of that in China With the gradual guarantee of product supply, a large number of clinical needs will be released Before 2015, China's blood products adopted a strict pricing management mode Most of the products were priced low, resulting in a lack of sales motivation for enterprises and a serious shortage of hospital blood products A large number of patients had to purchase blood products several times higher than the national pricing through abnormal channels After the drug price was liberalized, the price of most blood products increased Patients can buy blood products through legal channels The product quality is guaranteed, and the price is significantly lower than the black market price, which makes the industry develop normally The scope of medical insurance reimbursement has been expanded in the adjustment of the new medical insurance catalog in 2017 In the context of the new restrictions on the use of most clinical drugs, the types and scope of reimbursement for blood products have been greatly expanded While the country gradually supports the clinical use of blood products, more patients can use blood products for treatment Within one month: one is listed, and three large-scale M & as have increased the scope of clinical application and the number of aging population, the demand for blood products is growing In addition, due to the expansion of the reimbursement scope of blood products in the new medical insurance catalog, it is expected that the clinical demand will continue to increase in the future Since the price of blood products was released in June 2015, China's blood products have entered a high-speed development stage Industry integration and concentration will become the development trend of China's blood products industry in the next few years In June this year, a domestic blood product company went public, and three large-scale mergers and acquisitions took place On June 16, the domestic blood products company "Weiguang biology" was successfully listed on the Shenzhen Stock Exchange It plans to raise about 678 million yuan to invest in the industrialization project of specific immunoglobulin and coagulation factor products, the reconstruction and expansion project of single plasma collection station, the construction project of engineering technology research and development center and the repayment of bank loans On June 19, Shanghai Laishi blood products Co., Ltd., Asia's leading blood products company, disclosed the progress of major events Tsinghua's Tongfang shares planned to purchase no more than 9.9% of the company's shares by issuing shares and paying cash In the next week or so, St biochemical also announced the summary of the report of acquisition by offer, "Zhejiang mintou Tianhong" plans to spend about 2.7 billion yuan to acquire the control of St biochemical In addition to Tongfang shares and "zhemintou Tianhong", Australia's CSL company also announced in June that it would purchase 80% of the equity of Wuhan Zhongyuan Ruide Biological Products Co., Ltd., a blood products manufacturer, from humanwell Pharmaceutical Group Co., Ltd for us $352 million Shanghai Laishi blood products Co., Ltd Shanghai Laishi is the largest blood products enterprise in China at present, which mainly includes three main blood products bodies: Zhengzhou Laishi, Tonglu biology and Zhejiang Haikang, all of which are relatively large in scale and volume, forming the business foundation of Shanghai Laishi blood products The company has 11 kinds of human serum albumin, human immunoglobulin and intravenous immunoglobulin, among which coagulation factor product line is the most complete in China At present, the company has 35 single plasma collection stations (including 2 under construction), and the annual plasma collection volume in 2016 is nearly 900 tons Shanghai Laishi has continued to expand through M & A since 2014, it has acquired bonhe Pharmaceutical (now Zhengzhou Laishi), Tongtong biology and Zhejiang Haikang Among them, Banghe pharmaceutical has 2 pulp stations with an annual pulp input of 122 tons and 4 varieties; Tonglu biology has 14 pulp stations with an annual pulp input of more than 300 tons and 7 varieties; Zhejiang Haikang has 2 pulp stations (including 1 under construction) with an annual pulp input of about 20 tons Wuhan Zhongyuan red Biological Products Co., Ltd is a wholly-owned subsidiary of humanwell Pharmaceutical Group It is a high-tech enterprise integrating research and development, production and operation of blood products Its products mainly include albumin, intravenous human immunoglobulin and some specific immunoglobulin products The company also has a coagulation factor product line in the later stage of research and development, and plans to launch a number of coagulation factor products including eight factors in the next few years In addition, rydby has four plasma collection centers, with a total sales volume of about $30 million in 2016.