High price limit of basic medicine Zui will be issued, with limited impact on pharmaceutical stocks

The high retail price limit of Zui is expected to be announced by the end of this month For the currently rising pharmaceutical stocks, some pharmaceutical companies and industry insiders said in an interview that the potential impact of price limit on the performance of pharmaceutical companies is not only the drug price itself, but also related to the local bidding and delivery of drugs, while the companies with more * drugs such as Yunnan Baiyao still have valuation advantages According to the general market forecast, the price limit plan announced by the national development and Reform Commission at the end of this month will fully consider the amount of consumer consumption, referring to the current market central price of various varieties, while the price of a few * varieties * dosage forms will not be reduced, and most varieties will face different price reductions The contents of the catalogue are believed to largely affect the overall performance expectations of pharmaceutical enterprises in the second half of the year As for the price limit plan that may be announced at the end of the month, Ma Yinglong's office said in an interview that Zui's high price limit cannot be launched alone, and will be accompanied by a series of detailed rules including delivery, etc., so the actual impact on drug prices cannot be judged at present Many well-known pharmaceutical companies also said in the interview that before the final Zui plan was announced, it was difficult to measure the impact on the corporate profits Zhang Mingfang, a researcher in China Merchants Securities Industry, told reporters that according to the requirements of the medical reform plan, basic drugs will be purchased through public bidding, and the state will set the retail guide price of basic drugs Within the guide price, the provincial people's government will determine the unified purchase price of the region according to the bidding situation The impact of Zui high price limit on different pharmaceutical companies should be treated differently At the same time, although the price limit itself may have an adverse impact on the performance of pharmaceutical enterprises, the bidding process is also an important factor in determining the actual sales volume of pharmaceutical enterprises If the increase of scalar quantity of drugs in different regions after price limit is enough to make up for the loss of drug price decrease, the profits of enterprises will increase instead For individual stocks that may benefit from this price limit, Zhang Mingfang said that enterprises entering the catalogue with * drugs can get a higher share and are relatively less affected by the price reduction However, Yunnan Baiyao, which has continued to be strong in the near future, is still expected to maintain its valuation advantage after price limit Tianshi (600535, Guba) and other compound Danshen dropping pills are also less likely to reduce prices However, the price of some expensive traditional Chinese medicine injections decreased significantly, and the profit growth was negatively affected However, Zhang Mingfang believes that after the continuous rise of pharmaceutical stocks, the current valuation has returned to a reasonable range as a whole, but Yunnan Baiyao and other companies can still maintain the "strongly recommended" rating According to Ni Wenhao, a medical analyst with UBS fund of China Investment Corporation, 27 * varieties are included in the list of basic drugs, and the proportion of * varieties exceeds 20% Among them, the varieties of Yunnan Baiyao entered the catalogue accounted for 53.8% of the sales revenue, and Ma Yinglong musk Hemorrhoid Cream also entered the pharmaceutical catalogue with "exclusive drugs" In fact, the medical insurance department has purchasing indicators for the list of essential drugs every year Although drugs entering the list of essential drugs need to accept the government's guidance price, they also enjoy priority in purchasing, so there is uncertainty about the profit impact on pharmaceutical enterprises In the secondary market, the medical and health sector still outperformed the market as a whole yesterday, slightly down 0.56% It is worth noting that although the market hovered at 3000 points yesterday, the overall stock price of the plate is still close to the new high of this round of rebound