In 2013, the four main lines of the pharmaceutical industry performed restructuring drama, with an overall increase of more than 40%

In 2013, the pharmaceutical industry was not calm, anti bribery, price reduction, fee control and other factors were miscellaneous, and the surrounding environment was complex Pharmaceutical enterprises are struggling in pain, looking for rebirth in the bath fire As a defensive sector of A-share market, the "defensive" function of the pharmaceutical industry did not highlight in the second half of 2013, and various factors came out from time to time, affecting the play of the "defensive" function For example, the anti commercial bribery investigation initiated by GlaxoSmithKline has affected other foreign pharmaceutical enterprises and domestic pharmaceutical enterprises, and triggered a great discussion about the marketing mode of pharmaceutical enterprises, the mode of "medical care by drugs" in hospitals, and the high drug price in the society; the quality and safety problems of drugs and medical devices, like black swan, have impacted the consumer market and stock price of relevant companies; medical insurance charges control The expectation of drug price reduction may erode the profits of relevant pharmaceutical companies According to a research report of Guotai Junan, under the pressure of anti commercial bribery, medical insurance fee control and drug price reduction, the performance growth of the pharmaceutical industry may decline to 10% - 15% However, the pharmaceutical industry has not lost its charm because of these factors Looking forward to the future, the pharmaceutical industry is still the focus of investment By the end of the year, pharmaceutical companies have met the requirements of the new GMP and issued 104 industrial standards for medical devices, laying the foundation for the healthy and orderly development of the industry 12 ministries and commissions, including the Ministry of industry and information technology and the national development and Reform Commission, jointly issued the guiding opinions on accelerating the merger and reorganization of enterprises in key industries, the opinions of the State Council on promoting the development of health service industry, the policy of liberalizing the single child and the second child implemented at the Third Plenary Session of the 18th Central Committee of the Communist Party of China, the policy of allowing farmers to settle in cities and the policy of delaying retirement, etc., which will be issued to the whole industry Development brings new opportunities and investment opportunities The profit margin of pharmaceutical enterprises is still high The "bloodletting", "difficult to see a doctor" and "expensive to see a doctor" of the price of the original Chinese patent medicine are behind the huge profits of pharmaceutical enterprises, which are never the common rules From the perspective of policy trends, the government may first "open" the original research drugs and Chinese patent medicines with high gross profit margin in the future: the super national treatment of the original research drugs will no longer be available, while the confidential and exclusive varieties of traditional Chinese medicine will face price "bloodletting" On April 7 this year, the Beijing Municipal Bureau of health released the catalogue of candidate varieties for winning the bid (transaction) of centralized procurement of essential drugs in Beijing in 2012 According to the bidding results, the overall bid price of the project is about 26% lower than that of the basic drugs implemented in the 2009 edition of the catalogue of essential drugs It is estimated that the annual social and medical insurance expenditure will be reduced by 973 million yuan, of which the price of foreign-funded original research drugs has appeared 10% reduction This measure of Beijing is regarded as the wind vane of medical bidding in all provinces of China On July 3, the general office of the national development and Reform Commission issued a notice on the cost and price investigation of 60 well-known and listed pharmaceutical enterprises The purpose of this investigation is to understand and master the cost, price and relevant information in the process of drug production and circulation, and to formulate and adjust drug prices in a timely manner At present, the profit margin of pharmaceutical enterprises is still very high From January to September this year, according to the industry classification of Shenyin Wanguo, the average sales gross margin of 175 listed pharmaceutical and biological companies is 44.76%, while 84 listed pharmaceutical companies with sales gross margin of more than 45%, accounting for half of the companies under the classification Among them, the gross profit margin of shutaishen and Guanhao biology is more than 90% The high profit margin of pharmaceutical enterprises shows that there is a big gap between the market price and the cost price This year's investigation by the national development and Reform Commission undoubtedly paves the way for the reform of drug prices With all kinds of information, the price of traditional Chinese medicine will be the first passive operation Data shows that the average gross profit margin of 55 listed Chinese medicine enterprises in the first three quarters of 2013 was 50.14% Among them, the gross profit margin of sales of 28 enterprises is more than 50%, and that of zoelli pharmaceutical, Shanghai Kaibao, Zhongheng group and Yibai pharmaceutical is more than 80% In the field of traditional Chinese medicine, the real high price drugs are some traditional Chinese medicine protection varieties and confidential varieties It is understood that the production enterprises with national confidential and protected varieties have the advantages of independent pricing right and patent protection in marketing Under the unique product efficacy and strong marketing strategy, these varieties have become the rake for the relevant pharmaceutical enterprises According to media reports, the national development and Reform Commission recently convened relevant local departments and experts to discuss the price reduction of Chinese patent medicines, involving all Chinese patent medicines within the scope of national pricing At present, the principle of price adjustment is "increase, decrease and guarantee" "Rising" mainly refers to low-cost varieties, which must be clinically necessary or first-aid drugs specified in the national pharmacopoeia, and the price will be raised appropriately "Guaranteed" mainly refers to Chinese patent medicines with more rising raw material prices, mainly affordable varieties and state-level secret prescription drugs, with 5% - 10% fine-tuning based on the first retail price "Drop" mainly refers to the exclusive varieties of traditional Chinese medicine enjoying high quality and good price in local bidding, with a drop of more than 10% and a maximum drop of 25% Price reduction, like the sword of Damocles hanging on the head of traditional Chinese medicine enterprises, has become a lingering pain in the hearts of these enterprises "This could have a significant impact on the company's performance." "The price of traditional Chinese medicine is greatly affected by the price of raw materials, and the fluctuation of upstream price will affect the profit change of downstream enterprises, so a one size fits all policy is bound to be wrong," a person in charge of a listed company of traditional Chinese medicine told reporters In addition to the possibility of price reduction of proprietary Chinese medicine, another possible price reduction is the original research drug All along, the original research medicine has been enjoying super national treatment After the patent protection period, some original research drugs still enjoy preferential policies in terms of pricing and bidding in China For example, in terms of price, the price of the original drugs after the patent protection period is several times or even dozens of times higher than that of the domestic generic drugs Under the mode of "medical care with drugs", the original research drugs are favored by hospitals and doctors, while the generic drugs produced by domestic pharmaceutical enterprises are ignored On the one hand, it not only aggravates the voice of "expensive medical treatment" in the society, but also makes domestic pharmaceutical enterprises have no capital to carry out innovative drug research and development The call for canceling the special right of original research medicine is growing in the domestic pharmaceutical industry The case of GlaxoSmithKline triggered an industry earthquake No more black holes were found At the end of June this year, GlaxoSmithKline was suspected of commercial bribery in China, which triggered an earthquake in the whole pharmaceutical industry GlaxoSmithKline executives in China have been detained by police Subsequently, the incident spread to other foreign and domestic pharmaceutical companies, including AstraZeneca, Abbott Laboratories, Novartis, Pfizer, Sanofi, Lilly and other multinational pharmaceutical giants, which were also investigated by relevant departments Domestic pharmaceutical companies such as Zhengda Qingtian, Ganli pharmaceutical and Shanghai Pharmaceutical were also suspected of commercial bribery Since then, on August 14, the State Administration for Industry and Commerce issued a document to decide to carry out special actions for unfair competition nationwide from August 15 to the end of November 2013 In addition, the national health and Family Planning Commission held a special meeting, deliberated and passed the implementation opinions on the special governance of rectifying the unhealthy tendencies in the purchase and sale of medicines and medical services in 2013, to promote the root cause treatment, improve the centralized purchase system of medicines, standardize the purchase and sale order of medicines, and reduce the false high prices of medicines The health and Family Planning Commission also set up a leading group of special action against commercial bribery, and began to make secret visits to various places from October 14 For a while, relevant pharmaceutical companies cancelled the "general meeting" and "small meeting" one after another The medical representatives were afraid to enter the hospital, and doctors avoided the medical representatives one after another With the tightening of policy, as a defensive industry of A-share market, the pharmaceutical industry ended the market in the first half of the year and entered the adjustment period in the second half of the year Sales of prescription drugs and vaccines in GlaxoSmithKline's main business fell 61% in China after the third quarter report This has deepened investors' pessimism about the pharmaceutical industry However, it is worth noting that as early as 2006, the relevant departments of the state had rectified the pharmaceutical industry, and the impact on the industry at that time made people who experienced the event shudder However, the anti-commercial bribery scandal does not involve a wide range of enterprises This year, the relevant departments only investigate those enterprises that have been reported, and so far, they have not given any relevant punishment And the industry's problems are not "washed up" According to the reporter, some pharmaceutical companies will provide kickbacks to hospitals and doctors and include them in the sales expenses According to the data in the first three quarters of this year, the total sales expenses of 175 listed pharmaceutical companies reached 52.2 billion yuan, compared with 41.3 billion yuan in the same period last year, the highest in nearly four years This means that the "rectification" of the pharmaceutical industry has not fundamentally removed the chronic disease of the industry, and the mode of medical support with drugs has not changed Hospitals and doctors will still be the object of corporate bribery, which is a potential risk that hinders the development of the industry When the head of a listed company talks about commercial bribery, he is also embarrassed, saying that it is difficult to achieve "the whole world is turbid and I am alone" At present, the competition in the pharmaceutical industry is very fierce If a pharmaceutical company's sales mode is not "innovative", it will eventually be replaced by competitors' products, which will eventually affect the company's performance On December 17, GlaxoSmithKline announced that it would change its marketing strategy, stop paying doctors directly to sell drugs, and no longer link the remuneration of medical representatives to the number of doctors' prescriptions In the eyes of the outside world, such a statement is certainly welcome, but whether it can be implemented and carried out consistently remains to be seen Whether other companies can follow suit is uncertain In the view of reporters, relevant pharmaceutical companies should change the old marketing methods, and those marketing models that are hidden and undisclosed will sooner or later lift a stone and smash their own feet And the government must build a mechanism that combines the interests of hospitals, doctors, companies and the society Otherwise, every rectification is only to let bad habits converge and then recur, which will not be fundamentally solved Since 2010, the coverage of medical insurance in China has expanded rapidly to more than 1.3 billion people, with a coverage rate of 95%, becoming the largest medical insurance system in the world The establishment of universal medical insurance system is the biggest achievement of the new round of medical reform However, with the increasing coverage and medical demand, the medical insurance fund is in an emergency, and the national medical insurance department has to raise the banner of medical insurance fee control According to the 2013 social security fund budget released by the Ministry of finance, the income of basic medical insurance fund for urban employees in 2013 is expected to reach 618.9 billion yuan, up 11.2% year on year, lower than the average growth rate of about 20% in the past five years; the expenditure is expected to be 537.9 billion yuan, up 15.5% year on year On the other hand, the income of basic medical insurance fund for residents such as new rural cooperative medical insurance and urban and rural residents' medical insurance is expected to be 376.3 billion yuan in 2013, up 17% year on year, which is also lower than the previous average growth level; the expenditure is expected to be 342.6 billion yuan, up 15.3% year on year Some analysts believe that since 2009, the number of insured people has stabilized, and the growth rate of urban medical insurance financing has declined significantly It is expected that the growth rate of total employee medical insurance financing will gradually drop in the next three to five years This means that the growth rate of fund-raising in the future will tend to decline Under the project-based medical insurance settlement mode, the growth rate of medical insurance financing will decline, which will inevitably become the bottleneck of medical payment in the long run