Hengrui's 10 new drugs were approved, refreshing market investment expectations!

At the opening on July 4, Hengrui Medicine continued its strong rebound, opened higher and moved higher, and finally closed at 417 yuan with an increase of 7

Looking back on the past 30 trading days, the stock price of Hengrui Medicine has risen by 289%, and the total market value has increased to 3148 billion yu.

Since the beginning of this year, the capital market has reassessed the value of China's pharmaceutical innovation, and the stock prices of a large number of pharmaceutical innovation companies represented by Hengrui Medicine have fall.

"Value stocks will not be stagnant because of a drop in stock price for a period of ti.

As the former "Moutai in medicine" and "the first brother in market value", Hengrui Medicine has attracted the attention of investors with every mo.

Transformation finally welcomes value reversal?

The return of leading value of innovative drugs

For more than a year, Hengrui Medicine is indeed going through a difficult transition peri.

Open the K-line chart of Hengrui Medici.

However, the highest point became a watersh.

From the perspective of the industry, the fundamental reason for the decline of Hengrui's stock price is the difficult transition from generic drugs to innovative dru.

In May of this year, Hengrui Medicine issued an announcement announcing that the new general manager was elect.

In addition to the acceleration of internationalization, there are new moves in innovative layo.

According to the announcement, Hengrui plans to jointly establish the "Shanghai Shengdi Biomedical Fund" with its holding subsidiary Shengdi Investment and its controlling shareholder group, with a total scale of 2 billion yu.

An insider of private equity institutions said that the main reason for Hengrui Medicine to enter the private equity field is to catch up with a wave of innovati.

Since the share price of Hengrui fell below 40 yuan in March 2022, Hengrui Medicine is now coming out of the trough and crossed the threshold of 40 yuan aga.

More than 10 innovative drugs have been approved

Innovative drugs "spring is here"?

According to the data from Min.

From the perspective of the industry, the market size of the generic drug market has touched the "ceiling", but the domestic independent research and development innovative drug market is poised to take o.

From imitation to innovation, the development history of Hengrui Medicine is the epitome of the transition from domestic traditional generic drug companies to innovative drug Big Phar.

From 2000 to 2011, the entire domestic medicine was still the era of generic dru.

During this period, Hengrui Medicine was also mainly imitation, but it has vigorously built an innovative drug platfo.

In 2000, Hengrui Medicine was listed on the Shanghai Stock Exchan.

In that year, a total investment of 350 million yuan was used to establish an innovative drug research and development center in Shanghai, mainly engaged in new drug screening, Synthesis of new compounds and research on new dosage for.

In 2011, the category 1 innovative drug erecoxib was approved, marking the opening of a new era of innovative drugs by Hengrui Medici.

The transformation from imitation to innovation also shows that Hengrui Medicine itself has forward-looking innovation gen.

R&D investment is the fundamental guarantee for innovative drug R&.

From 2011 to 2021, Hengrui Medicine's R&D investment will continue to increa.

R&D expenses increased from 400 million yuan in 2011 to 203 billion yuan in 202 Among them, the proportion of R&D investment in sales revenue in 2021 will reach 295%, a record hi.

With the continuous increase of R&D investment, Hengrui Medicine in the transition period has gradually entered the harvest period of innovative dru.

On June 29, Hengrui Medicine issued an announcement that the company's self-developed Class 1 new drug Revelutamide Tablets was approved for marketi.

Since then, the number of innovative drugs listed by Hengrui Medicine in China has increased to 1

Investment institutions who have been following Hengrui for a long time said that Hengrui has spent ten years deploying innovative dru.

If 2018-2019 is its first harvest period, 2023-2024 will be its second harvest peri.

At present, in addition to the 11 innovative drugs already on the market, Hengrui Medicine has more than 60 innovative drugs under clinical development, and more than 250 clinical trials are carried out at home and abroad, forming a rich product pipeline of echelo.

At the same time, the company has also built a number of new technology platforms with independent intellectual property rights, including proteolytic targeted chimeras (PROTAC), molecular glues, antibody drug conjugates (ADC), bi/multispecific antibodies, gene therapy , mRNA,e.

Driven by a favorable policy environment and capital, the rise of domestic innovation has accelerat.

Domestic innovative drugs have entered the harvest period one after another, and more blockbuster innovative products will be approved for marketing in China in the next few yea.

In the opinion of the above-mentioned investment institutions, Hengrui Medicine has 11 innovative drugs on the market, and 3 new products, Dalcelix, Henggliflozin, and Revelutamide, will impact medical insurance negotiations, as well as PD-1, pyrotinib, A number of new indications for remazolam meet the application conditions, and it is expected that the company's innovative drug pipeline will gradually usher in the harvest peri.