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The three quarterly reports of the pharmaceutical industry have all been announced
.
According to data from Flushing iFinD, there are 409 A-share companies in the pharmaceutical and biological sector, of which 278 have achieved a year-on-year increase in net profit in the first three quarters, a year-on-year decrease of 131
.
On the whole, the performance growth of pharmaceutical companies showed a large divergence, including the outstanding performance of CXO, life science upstream and some innovative pharmaceutical equipment companies
.
Among them, the first three quarters of CXO and ophthalmology segment achieved operating income and net profit growth of 30.
37% and 19.
79% respectively
.
CITIC Securities pointed out that due to the rapid development of the pharmaceutical industry and the strong demand for outsourcing including COVID-19 treatment drugs, the CXO sector has continued to grow at a high rate.
Ophthalmology has benefited from the recovery of business growth under the well-controlled epidemic this year.
The domestic epidemic last year was severe and affected The amount of outpatient visits and operations in the hospital
.
In addition, in the first three quarters of the medical device segment, revenue increased by 17.
23% year-on-year, and net profit increased by 17.
03% year-on-year
.
The analysis believes that, on the one hand, due to the impact of the epidemic, domestic excellent medical device products have entered high-end hospitals in European and American countries, shortening the promotion cycle of domestic brands; on the other hand, the per capita utilization rate of domestic therapeutic consumables is lower than that of developed countries.
The introduction of high domestic consumables and centralized procurement have greatly reduced terminal prices, and the domestic therapeutic consumables market is expected to maintain a high boom
.
The industry believes that the follow-up performance of the pharmaceutical sector will continue to show a trend of differentiation
.
So, how does the market outlook go? Recently, many securities institutions have issued reports and opinions
.
Industrial Securities recently released a research report saying that overall, the proportion of pharmaceutical fund holdings has entered a historical low, which is a low level
.
The performance of the third quarterly report of the pharmaceutical industry is divided, and the pharmaceutical company is expected to start the valuation switch market in the future
.
The agency believes that in terms of investment, in addition to focusing on the first-line leading companies, it is also possible to find specialized and new small leaders in various sub-fields from the bottom up, including: the innovative drug industry chain and the upstream of life sciences, with high prosperity CXO and fast-growing upstream support companies in life sciences; innovative drugs and innovative devices; vaccines; consumption upgrades; medical services, etc.
.
China Galaxy Securities pointed out that the pharmaceutical sector is still overweight
.
On the whole, the data on the heavy storage of funds in the pharmaceutical industry in the third quarter showed obvious grouping, especially for the medical services (CXO) and consumer leaders that are less affected by negative policies
.
He believes that in the context of the epidemic, the comparative advantages of the pharmaceutical industry are expected to continue, and the anti-epidemic sector is expected to continue to maintain high economic growth.
At the same time, benefiting from factors such as accelerated population aging and consumption upgrades, the pharmaceutical sector is a rigid demand in domestic demand.
The industrial logic of long-term sustainable development is relatively certain
.
It is recommended to pay attention to the innovative service industry chain, blood products that are relatively in a low position and low valuation, and the consumer Chinese medicine sector with scarce attributes
.
In addition, China Asset Management said that in the long run, it insists on selecting stocks with high ROE, high barriers and strong growth sustainability from the bottom-up.
The investment direction is mainly concentrated in the fields of consumption, medicine, high-end manufacturing, etc.
, with a view to adopting long-term holdings.
Share the continuous growth of these outstanding companies
.
In the long run, medicine is just needed
.
With the intensification of aging, the increase in disposable income of residents and the upgrading of consumption, the industry has more room for long-term growth
.
Therefore, the long-term upward trend of the pharmaceutical industry is expected to remain unchanged
.
At the same time, under the guidance of a series of policies to encourage innovation and through healthy competition in the industry, the industry expects that in the future, a group of Chinese pharmaceutical companies with core competitiveness will come to the fore and radiate new vitality in the development of the industry
.
.
According to data from Flushing iFinD, there are 409 A-share companies in the pharmaceutical and biological sector, of which 278 have achieved a year-on-year increase in net profit in the first three quarters, a year-on-year decrease of 131
.
On the whole, the performance growth of pharmaceutical companies showed a large divergence, including the outstanding performance of CXO, life science upstream and some innovative pharmaceutical equipment companies
.
Among them, the first three quarters of CXO and ophthalmology segment achieved operating income and net profit growth of 30.
37% and 19.
79% respectively
.
CITIC Securities pointed out that due to the rapid development of the pharmaceutical industry and the strong demand for outsourcing including COVID-19 treatment drugs, the CXO sector has continued to grow at a high rate.
Ophthalmology has benefited from the recovery of business growth under the well-controlled epidemic this year.
The domestic epidemic last year was severe and affected The amount of outpatient visits and operations in the hospital
.
In addition, in the first three quarters of the medical device segment, revenue increased by 17.
23% year-on-year, and net profit increased by 17.
03% year-on-year
.
The analysis believes that, on the one hand, due to the impact of the epidemic, domestic excellent medical device products have entered high-end hospitals in European and American countries, shortening the promotion cycle of domestic brands; on the other hand, the per capita utilization rate of domestic therapeutic consumables is lower than that of developed countries.
The introduction of high domestic consumables and centralized procurement have greatly reduced terminal prices, and the domestic therapeutic consumables market is expected to maintain a high boom
.
The industry believes that the follow-up performance of the pharmaceutical sector will continue to show a trend of differentiation
.
So, how does the market outlook go? Recently, many securities institutions have issued reports and opinions
.
Industrial Securities recently released a research report saying that overall, the proportion of pharmaceutical fund holdings has entered a historical low, which is a low level
.
The performance of the third quarterly report of the pharmaceutical industry is divided, and the pharmaceutical company is expected to start the valuation switch market in the future
.
The agency believes that in terms of investment, in addition to focusing on the first-line leading companies, it is also possible to find specialized and new small leaders in various sub-fields from the bottom up, including: the innovative drug industry chain and the upstream of life sciences, with high prosperity CXO and fast-growing upstream support companies in life sciences; innovative drugs and innovative devices; vaccines; consumption upgrades; medical services, etc.
.
China Galaxy Securities pointed out that the pharmaceutical sector is still overweight
.
On the whole, the data on the heavy storage of funds in the pharmaceutical industry in the third quarter showed obvious grouping, especially for the medical services (CXO) and consumer leaders that are less affected by negative policies
.
He believes that in the context of the epidemic, the comparative advantages of the pharmaceutical industry are expected to continue, and the anti-epidemic sector is expected to continue to maintain high economic growth.
At the same time, benefiting from factors such as accelerated population aging and consumption upgrades, the pharmaceutical sector is a rigid demand in domestic demand.
The industrial logic of long-term sustainable development is relatively certain
.
It is recommended to pay attention to the innovative service industry chain, blood products that are relatively in a low position and low valuation, and the consumer Chinese medicine sector with scarce attributes
.
In addition, China Asset Management said that in the long run, it insists on selecting stocks with high ROE, high barriers and strong growth sustainability from the bottom-up.
The investment direction is mainly concentrated in the fields of consumption, medicine, high-end manufacturing, etc.
, with a view to adopting long-term holdings.
Share the continuous growth of these outstanding companies
.
In the long run, medicine is just needed
.
With the intensification of aging, the increase in disposable income of residents and the upgrading of consumption, the industry has more room for long-term growth
.
Therefore, the long-term upward trend of the pharmaceutical industry is expected to remain unchanged
.
At the same time, under the guidance of a series of policies to encourage innovation and through healthy competition in the industry, the industry expects that in the future, a group of Chinese pharmaceutical companies with core competitiveness will come to the fore and radiate new vitality in the development of the industry
.
