Isaipe, 50% national price reduction

Sansheng Guojian announced that the company plans to start nationwide gradually take the initiative to reduce the price of the company's main products Isaipe products, of which 25mg specifications from 643 yuan to 320 yuan, 12.5mg specifications from 374 yuan to 188 yuan, the price reduction range of 50%.
's own efforts to support the company's performance it is understood that Isep is a fusion protein TNF-a inhibitor, its action points include free TNF-a, TNF-α is secreted by macrophages, fat cells and activated TH cell secretion, by stimulating macrophages to produce cytototoxic metabolites to increase the killing activity of phagocytophages.
TNF-α also stimulates the production of heat-producing proteins and promotes localization of inflammation.
has proven that a variety of autoimmune diseases, such as rheumatoid arthritis, psoriasis, Crohn's disease, and orthopedic spina bifiditis, are closely related to TNF-α, and Isep can achieve therapeutic results by inhibiting the biological activity of TNF-α.
In 2005, Isepp was approved for the treatment of rheumatoid arthritis, strong straightening spina bifiditis and psoriasis, china's first all-human antibody drug, and the first listed tumor necrosis cause (TNF-α) inhibitor in the field of rheumatology in China.
is already licensed to list in 15 countries, including Colombia, Mexico, Paraguay, India, Ecuador, Bangladesh and Thailand, according to Sansheng Guojian's previous prospectan.
Due to the early launch time, Isep gained a first-mover advantage, dominated the domestic TNF-α inhibitor market, and also became the absolute revenue of Sansheng Guojian, according to the previously announced prospecto, 2017-201 In august, Isepp achieved sales of 1,094 million, 1,128 million and 1,162 million, respectively, accounting for 100%, 100% and 99.84% of the company's operating income.
According to Sansheng Guojian's 2020 half-year report, Isaipe was affected by the epidemic and other factors, its domestic sales performance declined over the same period, with sales revenue of about 330 million yuan for the two specifications, down 33.91 percent year-on-year, of which 12.5mg of specification sales fell particularly sharply, down 52.2 percent over the same period. 97%, but even so, according to IQVIA data, If you measure sales, Isaipe's share of the domestic TNF-α inhibitor market in the first half of 2020 still accounts for the majority of the market, reaching 54.5%, with sales covering more than 3,000 medical institutions, including more than 1,500 third-tier hospitals.
TNF-α inhibitors are killing fierce but on the other hand, like many popular large varieties, with the continuous expansion of the domestic autoimmune disease drug market, into the TNF-α inhibitor market is more and more enterprises, a unique situation is gradually being dismantled, Jianghu killing is extremely fierce.
China's TNF-α inhibitor market accounted for about 81.8% of China's autoimmune disease biopharmaceus market in 2019, with a compound annual growth rate of 25.1% from RMB1.2 billion in 2015 to RMB3 billion in 2019, according to Frost Sullivan.
With the coming TNF-α inhibitor clinical pipeline more products on the market, patient access to drugs and compliance to improve, the market is expected to reach 15.6 billion yuan in 2024 and 46.4 billion yuan in 2030.
as of January 31, 2020, a total of 10 TNF-α inhibitor drugs have been approved for the market in China, and nine products other than Isaipe include Johnson and Johnson's (Invlich monolithic, domesticly available in 2006), and Hinpni (Golimu Single Resistance, domestic 2017), AbbVie's Shumeile (Adamo Single Resistance, 2010 domestic), Pfizer's Enley (Inasip, domestic listing 2010), Sekin Bio's Jonker (Recombinant Human Type II. Type Tumor Necrotic Necrotic Congener-Antibody Fusion Protein, 2011 Domestic Listing), Haizheng Pharmaceuticals' Ambino (Recombinant Person II. Type Tumor Necrotic Necrotics-Antibody Fusion Protein, 2015 Domestic Listing) and Anjianin (Adamo Monoantigen , 2019 domestic listing), Yoshimi Jia (Peselli Zhu single resistance, 2019 domestic listing), Baiotai's Greli (Adamo single resistance, domestic listing in 2019), and most of them are included in the National Health Insurance Category B.
At the same time, as of January 31, 2020, the submission of TNF-α inhibitor market applications and in the clinical Phase III phase of the product are more than 5, Isep is facing an unprecedented competitive landscape, which also forced its active price reduction.
In this price reduction announcement, Sansheng Guojian made it clear that with the same adaptive new treatment holding Isep no longer has an advantage, the current annual treatment costs of some competitors without considering the gift of drugs significantly lower than Isaipe's 66,906 yuan / year, such as the annual treatment costs of Shumeile The annual treatment cost of 33,540 yuan/year, the annual treatment cost of Greeli is 30,160 yuan/year, the annual treatment cost of AnJianning is 29,900 yuan/year, and the annual treatment cost of Su Lixin is 29,900 yuan/year.
At the same time, Sansheng Guojian also mentioned another important factor in the price reduction, namely, the low penetration rate of biological agents in China, according to the 2018 Chinese rheumatoid arthritis diagnosis and treatment guidelines issued by the Chinese Medical Association Rheumatology Credit Association, the use rate of north American biologics DMALDs is 50.7%, and a rheumatoid immunoregistered study shows that China's biological agents According to an international study published in 2017 by the European Union against Rheumatology (EULAR), the use of DMARDs, a biological agent for spinal arthritis in China, was the lowest among the sample countries selected in the study, at only 5%, in Belgium at 74%, and in the United States, France and Colombia at more than 60%.
of low usage, high payment thresholds are the main reason.
Therefore, based on the above factors, the company needs to adopt a more effective price strategy to maintain market competitive position, decided to reduce the price of products, reduce the threshold for patient payment, enhance product access, in order to achieve price-for-volume.
the impact of the price adjustment, Sansheng Guojian said the price adjustment is expected to have a negative impact on Iseep's sales revenue and gross margin in the fourth quarter of 2020.
But in the long run, lower prices are conducive to improving drug access and stimulating the growth of demand for end-drugs, and further increasing the overall market penetration of biologics, increasing the overall industry size, bringing better market opportunities.
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