In the past year, the pharmaceutical sector as a whole is in a period of adjustment, the pharmaceutical industry has fallen by 23.
89% so far this year, but from the current point of view, the industry generally believes that the valuation of the pharmaceutical sector has basically been adjusted in place, the pharmaceutical company's 2022 third quarter report overall exceeded expectations, pharmaceutical stocks gradually rose, coupled with the resonance of factors such as the recovery of innovative drug policies, it is expected that the performance of the next pharmaceutical sector is worth looking forward to
.
In the fourth quarter, the performance of the pharmaceutical sector is worth looking forward to! (Image source: Pharma.
com)
Nearly 60% of pharmaceutical companies reported more than expected in the third quarter
Entering the window of the third quarterly report, the performance of pharmaceutical companies in the third quarter of 2022 has been released
.
Up to now, more than 460 A-share biomedical listed companies have released three quarterly reports, of which nearly 60% have achieved year-on-year growth in net profit in the first three quarters, which has exceeded expectations
overall.
Among the subdivisions, the medical device and medical service sectors performed well, with a cumulative increase of more than 100% in net profit attributable to the parent of 26 companies, including 15 medical device companies and 11 medical service companies
.
Outstanding performers such as Jiuan Medical, due to the strong overseas demand for kits, the company's performance has exploded, achieving a total operating income of 24.
589 billion yuan in the first three quarters of 2022, a year-on-year increase of 30.
12 times, and a net profit attributable to the parent of 16.
05 billion yuan, a year-on-year increase of 319 times
.
CapBio, which is also driven by sales due to the increase in demand for nucleic acid testing, achieved operating income of 4.
259 billion yuan in the first three quarters of 2022, a year-on-year increase of 113.
82%; the net profit attributable to the parent was 1.
488 billion yuan, a year-on-year increase of 130.
04%; Basic earnings per share were $3.
41
.
The analysis believes that the performance of many medical device companies in the first three quarters of this year rose because of the increase
in orders.
In addition, with the support of favorable policies in the medical industry and the gradual implementation of centralized procurement policies, the business of related companies tends to be stable
.
The performance of the CXO sector in the first three quarters of this year is also more noteworthy
.
As shown in WuXi AppTec's third quarterly report, the company achieved revenue of 10.
638 billion yuan in the third quarter, a year-on-year increase of 77.
76%; The net profit attributable to the shareholders of the parent company was 2.
742 billion yuan, a year-on-year increase of 209.
11%.
Porton handed over a satisfactory "answer sheet" in the third quarter of this year, achieving revenue of 1.
304 billion yuan, a year-on-year increase of 68.
42%; The net profit attributable to the shareholders of the parent company was 365 million yuan, a year-on-year increase of 150.
08%.
In addition, CXO head companies such as Tigermed and Clarion have also handed over relatively beautiful report cards
.
The industry believes that these benefits are expected to support the logic
of Q4 and even longer-term time recovery.
From the perspective of the industry, with the transfer of overseas orders to China and the rapid development of China's innovative drug industry, the demand for CXO has shown explosive growth, and leading enterprises have been able to obtain order growth
.
The pharmaceutical sector in the fourth quarter is optimistic
In the third quarterly report of pharmaceutical companies showing a good situation, securities institutions are also full of expectations for the market situation of the pharmaceutical sector in the fourth quarter, and are generally optimistic about the "awakening"
of the pharmaceutical sector in the fourth quarter.
Zhongtai Securities pointed out that under the disturbance of the epidemic, the pharmaceutical industry reported steady growth in the third quarter, and the fourth quarter is expected to gradually meet the inflection point
.
In the third quarter of 2022, the revenue of the pharmaceutical sector increased by 8.
9% year-on-year, the total profit increased by 10.
8% year-on-year, and the non-net profit increased by 10.
9% year-on-year, which is basically consistent
with the growth rate of the first three quarters.
Soochow Securities has said that the valuation of the pharmaceutical sector has been fully adjusted, and the fourth quarter is expected to usher in a major counterattack
.
In general, the pharmaceutical industry will remain a structured market, optimistic about scientific research services, medical services, innovative drugs, CXO and other fields
.
Everbright Securities believes that the marginal improvement of pharmaceutical policy is significant, market sentiment is expected to continue to recover, and it continues to be optimistic about investment opportunities
in the pharmaceutical sector in the fourth quarter.
Industrial Securities also pointed out recently that the recent marginal easing trend of pharmaceutical policy has appeared
.
Looking forward to the fourth quarter, the next blockbuster policy that will be implemented is this year's innovative drug negotiations, and the results are worth looking forward to
.
Overall, the current drug and device market is expected to move from policy impact to policy moderation, and from the perspective of long-term logic and fundamentals, innovative drugs and innovative devices are also the long-term investment direction of medicine, and the long-term logic continues to be optimistic
.
epilogue
Overall, the good performance of pharmaceutical companies in the third quarter has boosted market confidence, and securities institutions are also optimistic about the performance of the pharmaceutical sector in the fourth quarter, and it is worth paying attention
to as a whole for innovative devices and CRO head enterprises with bright reports in the third quarter, as well as traditional Chinese medicine companies supported by a series of favorable policies.
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