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With the transfer of global pharmaceutical giants' R&D links to China, as well as the enthusiasm for new drug R&D, coupled with policy immunity, pharmaceutical research and production outsourcing services (CXO) can be said to be a sweet pastry in the pharmaceutical market
.
However, since July 2021, the Drug Evaluation Center of the State Food and Drug Administration issued the "Clinical Value-Oriented Clinical Research and Development Guidelines for Oncology Drugs" for comments, the CXO index has declined, and in December 2021, the "acceleration" has been pressed down.
key"
.
Wind data shows that in the first week of 2022 alone, the CSI CXO index fell by 11.
91%.
Among them, CXO fell sharply, and the index fell by 9.
51% to close at 3869 points
.
As of 14:27 on January 17, 2022, industry giants WuXi AppTec and Tigermed fell 0.
26% and 2.
11% respectively
.
Looking back at the market value in the first week of the year, the ranking of pharmaceutical companies has also undergone major changes
.
For example, CRO giant WuXi PharmaTech tumbled 8.
18% to close at 108.
88 yuan per share, with a total market value of 321.
83 billion yuan, and its market value ranking also fell
.
Asymchem's decline was more obvious, with a weekly decline of 18.
67%, closing at 353.
80 yuan per share, with a total market value of 93.
524 billion yuan, and the market value ranking also fell
.
In addition, it is worth mentioning that the market value of Pharmaron, Tigermed, and Asymchem have all withdrawn from the "100 billion club"
.
The analysis believes that the recent adjustment of CXO is mainly affected by the fluctuation of investment and financing data, as well as the large decline of some innovative drug companies in Hong Kong stocks
.
Some fund managers also pointed out that the ups and downs of the stock market are normal, especially after the CXO sector experienced a sharp rise, when the negative news is disturbed, it is normal for the stocks in the relevant sectors to pull back
.
"Because of the excessive concentration of positions in the early stage, recent stock price fluctuations are unavoidable
.
" So, the "continuous decline" of the CXO sector, does it mean that this track is not fragrant? Regarding the follow-up development of the CXO sector, the industry generally still holds a continued optimistic attitude
.
On the one hand, in the long run, innovation is still the main driving force for the development of the pharmaceutical industry
.
With the aging of the population and the acceleration of pharmaceutical innovation, innovative drug R&D companies still need to rely on pharmaceutical water sellers to break the bottleneck of high investment, long cycle, and high risk.
While improving R&D efficiency, it also greatly reduces R&D costs
.
Therefore, there is still a large demand in the pharmaceutical outsourcing industry
.
The data shows that the R&D expenditure of China's pharmaceutical industry has increased significantly from about US$10.
5 billion in 2015 to US$21.
1 billion in 2019, an annual increase of 19.
06%.
USD 100 million to USD 55.
1 billion in 2026, with a compound annual growth rate of about 13.
1%
.
On the other hand, the overseas pharmaceutical industry chain is further shifting towards China, which will bring greater opportunities to China's CXO industry, especially giant companies
.
The industry pointed out that China's pharmaceutical outsourcing giants currently have obvious comparative advantages in terms of human resources, research and development costs, and clinical trial costs, and the long-term development of the overall industry is worth looking forward to
.
In the long run, domestic CXOs are developing rapidly, and there is still a lot of room for development in the future
.
According to the Frost & Sullivan report, the market size of new drug R&D outsourcing services in 2018 was about US$115 billion, and it is expected to increase to US$178.
5 billion by 2022, with a compound annual growth rate of about 11.
6%
.
Another data predicts that by 2025 this market will reach 244 billion US dollars
.
.
However, since July 2021, the Drug Evaluation Center of the State Food and Drug Administration issued the "Clinical Value-Oriented Clinical Research and Development Guidelines for Oncology Drugs" for comments, the CXO index has declined, and in December 2021, the "acceleration" has been pressed down.
key"
.
Wind data shows that in the first week of 2022 alone, the CSI CXO index fell by 11.
91%.
Among them, CXO fell sharply, and the index fell by 9.
51% to close at 3869 points
.
As of 14:27 on January 17, 2022, industry giants WuXi AppTec and Tigermed fell 0.
26% and 2.
11% respectively
.
Looking back at the market value in the first week of the year, the ranking of pharmaceutical companies has also undergone major changes
.
For example, CRO giant WuXi PharmaTech tumbled 8.
18% to close at 108.
88 yuan per share, with a total market value of 321.
83 billion yuan, and its market value ranking also fell
.
Asymchem's decline was more obvious, with a weekly decline of 18.
67%, closing at 353.
80 yuan per share, with a total market value of 93.
524 billion yuan, and the market value ranking also fell
.
In addition, it is worth mentioning that the market value of Pharmaron, Tigermed, and Asymchem have all withdrawn from the "100 billion club"
.
The analysis believes that the recent adjustment of CXO is mainly affected by the fluctuation of investment and financing data, as well as the large decline of some innovative drug companies in Hong Kong stocks
.
Some fund managers also pointed out that the ups and downs of the stock market are normal, especially after the CXO sector experienced a sharp rise, when the negative news is disturbed, it is normal for the stocks in the relevant sectors to pull back
.
"Because of the excessive concentration of positions in the early stage, recent stock price fluctuations are unavoidable
.
" So, the "continuous decline" of the CXO sector, does it mean that this track is not fragrant? Regarding the follow-up development of the CXO sector, the industry generally still holds a continued optimistic attitude
.
On the one hand, in the long run, innovation is still the main driving force for the development of the pharmaceutical industry
.
With the aging of the population and the acceleration of pharmaceutical innovation, innovative drug R&D companies still need to rely on pharmaceutical water sellers to break the bottleneck of high investment, long cycle, and high risk.
While improving R&D efficiency, it also greatly reduces R&D costs
.
Therefore, there is still a large demand in the pharmaceutical outsourcing industry
.
The data shows that the R&D expenditure of China's pharmaceutical industry has increased significantly from about US$10.
5 billion in 2015 to US$21.
1 billion in 2019, an annual increase of 19.
06%.
USD 100 million to USD 55.
1 billion in 2026, with a compound annual growth rate of about 13.
1%
.
On the other hand, the overseas pharmaceutical industry chain is further shifting towards China, which will bring greater opportunities to China's CXO industry, especially giant companies
.
The industry pointed out that China's pharmaceutical outsourcing giants currently have obvious comparative advantages in terms of human resources, research and development costs, and clinical trial costs, and the long-term development of the overall industry is worth looking forward to
.
In the long run, domestic CXOs are developing rapidly, and there is still a lot of room for development in the future
.
According to the Frost & Sullivan report, the market size of new drug R&D outsourcing services in 2018 was about US$115 billion, and it is expected to increase to US$178.
5 billion by 2022, with a compound annual growth rate of about 11.
6%
.
Another data predicts that by 2025 this market will reach 244 billion US dollars
.
