It is said that the price reduction of traditional Chinese medicine injection is imminent

The news of the price reduction of Chinese patent medicine once again provoked the nerves of shareholders, and the media reported that injection was the first to bear the brunt A shares in the Chinese medicine injection as the main product of listed companies really want to prepare for the "winter"? Injection is said to be the first to bear the brunt of the "top concern" of pharmaceutical stocks Today's media reported that the price adjustment of traditional Chinese medicine "landed" within the year, with the price adjustment mainly below the price, and the injection adjustment may be the largest A-share listed companies will face the performance test This news was quickly topped by Shanghai Kaibao (13.810, 0.00, 0.00%) (300039), Zhongheng group (13.50, 0.04, 0.30%) (600252), Yisheng Pharmaceutical (23.50, 0.09, 0.38%) (002556) and other stocks The investors are concerned about the price reduction range? Influence geometry? Some investors feel "too empty", but also some investors paste a positive report on injection for comfort So, how do these listed companies in the A-share market, whose main products are traditional Chinese medicine injection, think of this possible "winter"? Shanghai Kaibao: the price reduction is not clear, "inconvenient to say." some analysts in the pharmaceutical and biological industries of securities companies pointed out to reporters that if the price is reduced, Shanghai Kaibao is the most affected in the A-share market The company has almost only Tanreqing injection, a single product In the first half of this year, the product contributed 780 million yuan of revenue to the company, and the company's total revenue is 712 million yuan The gross profit margin of the variety is 84.29% However, Mu Jingwei, Secretary of the board of directors of the company, kept silent on the question of price reduction "It's not convenient for us to answer now The price reduction is not clear yet As a listed company, we can only look at the stock price of the listed company according to the policy The stock price of the listed company is also sensitive." Shanghai Kaibao shares fell 2.40% today HongRi Pharmaceutical (34.990, - 0.06, - 0.17%) (300026): the exclusive varieties are confident that they are "focusing on" analysts said that the other thing that needs attention is HongRi pharmaceutical The main products of HongRi pharmaceutical industry are Xuebijing injection, fasudil hydrochloride injection and low molecular weight heparin calcium injection Among them, Xuebijing injection is a traditional Chinese medicine injection In the first half of this year, it contributed 479 million revenue to the company, accounting for 51% of the total revenue of 941 million It is the highest of all products, with a gross profit rate of 90.93% Zheng Dan, Secretary of the board of directors of HongRi Pharmaceutical Co., Ltd "it's not convenient to talk about this matter", said that "it's not clear now, but it's also concerned." However, the company seems to have confidence in its own products, "we are exclusive varieties, did not expect to reduce the price of the problem." But analysts say exclusive products are also facing price cuts Kangyuan Pharmaceutical (27.81, - 0.25, - 0.89%) (600557): it is said that for a long time, "there is no document, and it is not clear" Kangyuan pharmaceutical may have a little influence in this price reduction, because the company's products include multiple varieties, but the same, injection also contributes the most revenue in the company's four sub products, this year, 473 million, accounting for 45% of the total revenue of 1.048 billion The gross profit margin was also the highest, at 78.66% It is worth noting that one of the company's fund-raising projects is also the "technological transformation project of modern Chinese medicine injection production line" As for the price reduction, the staff of the Securities Department of the company said that the company has not received the notice at present, and the price reduction has been rumoured for a long time, "there is no formal implementation now, and the measures taken by the company are not clear to us." However, she said that if the price is reduced, the company may reduce the labor cost as it has previously dealt with the price reduction of raw materials The reporter combed and found that the listed companies that may be affected by the price reduction also include Kunming Pharmaceutical (22.14, 0.02, 0.09%) (600422), Yibai Pharmaceutical (29.91, 0.12, 0.40%) (600594) and Tianshili (40.15, 0.03, 0.07%) (600535), etc Industry analyst: the impact of the price cut is "hard to say" Even if the price cut news is overwhelming, the pharmaceutical and biological industry analyst of a securities firm still told reporters that the impact of the news on relevant stocks is "hard to say" Analysts explained that injection was the first to bear the brunt of the price reduction, because the difference between the maximum retail price and the bid price of traditional Chinese medicine injection was small, and the state would adjust the maximum retail price, which would inevitably affect the bid price after adjustment However, he stressed that the negative effect of price reduction "depends on the extent of price reduction and the difference between the bid price and the maximum retail price For some companies, if the difference is small, it has little impact on them." Moreover, the price reduction may only bring about a reduction in profits, "the product may still be profitable, and the market for traditional Chinese medicine injection is very large." Wang Hongzhi, pharmaceutical partner of Peking University vertical and horizontal management consulting company, also disclosed to reporters that in the previous survey, the proportion of traditional Chinese medicine injection in doctors' medication is basically the top two, because "the applicability is very broad, coupled with the consideration of the interests of the hospital." It seems that the impact of price reduction is not significant, but there are still views that the policy risk of traditional Chinese medicine stock is still there, the price moat of exclusive varieties is no longer there, and the impact of price reduction may exceed market expectations So how should pharmaceutical companies deal with it? Analysts said that they had to control costs "Price reduction is not something that listed companies can decide, so they can only control costs, control expenses, or do some public relations, and strive to reduce some of them from SASAC.".