Jichuan Pharmaceutical's 2 billion single products withdraw from medical insurance, which may affect the use of raw materials!

On August 19, Hubei Jichuan Pharmaceutical Co.
, Ltd.
(Jichuan Pharmaceutical, SH600566) released its 2022 semi-annual report showing that during the reporting period, the company achieved operating income of 3.
863 billion yuan, an increase of 4.
92% year-on-year, net profit attributable to shareholders of listed companies of 1.
016 billion yuan, an increase of 18.
94% year-on-year, and deduction of non-net profit of 900 million yuan, an increase of 11.
88%
year-on-year 。 Figure 1: Jichuan Pharmaceutical's core operating data from 2016 to 2021 First, the proportion of traditional Chinese medicines for detoxification and detoxification The main business of Jichuan Pharmaceutical is divided into three categories: traditional Chinese medicine, western medicine and other three categories, of which traditional Chinese medicine business accounts for about 68%, western medicine business accounts for about 30%, and other businesses account for about 2%.

The main products are concentrated in the three major fields of detoxification, digestion and pediatrics, and the three drugs such as Pudilan anti-inflammatory oral liquid, rabeprazole sodium enteric-coated capsules and pediatric heat-clearing granules account for about
80% of the company's total revenue.
According to the data of the Intranet, Pudilan Anti-Inflammatory (common name) ranked first in the market share of traditional Chinese medicine for antipyretic and detoxification in public hospitals in China in 2021; Pediatric Heat-Clearing Granules ranked first
in the market share of proprietary Chinese medicines for pediatric colds in public hospitals in 2021.
In this issue, the big data platform of traditional Chinese medicine industry in Tiandi Cloud Map analyzes the cost pressure of traditional Chinese medicine raw materials faced by enterprises from the perspective of
raw materials involved in Pudilan anti-inflammatory oral liquid.
Second, Pudilan anti-inflammatory oral liquid composition Table 1: Pudilan anti-inflammatory oral liquid core raw materials This product has antipyretic detoxification, anti-inflammatory and anti-swelling, and is used for the treatment
of furuncle, mumps, pharyngitis, tonsillitis and so on.
Table 2: Pudilan anti-inflammatory oral liquid raw materials rise and fall Pudilan anti-inflammatory oral liquid raw materials In the period from January 2021 to September 2022, the prices of 3 kinds of raw materials rose, accounting for 75%, and the price of 1 raw material fell, accounting for 25%.

。 Fourth, Pu Di blue anti-inflammatory oral liquid raw material market reviews dandelion, low-priced varieties, planting area is not large, coupled with this year's wild production areas such as Gansu and other places suffered drought, limited output, early price rise, recently there are bulk supply transactions, merchants actively sell, the market is running firmly, the spot wild goods price in 13-14 yuan (kg price, the same below), the home breeding goods merchants shouted price of 7.
5 yuan or so
.
At present, there are not many sources in the market, and the future market is worth paying attention to
.
Banlan root, the early price rise, the planting area has increased, from this year's new production period has not far, the merchants mostly hold a wait-and-see attitude, the source of goods moves slowly, the market performance is weak, the current market price of Banlan root unified goods is between
10-11.
5 yuan.
The future market pays attention to the output of goods this year
.
Kuditin is a small variety in the market, the overall demand is general, and only a small number of enterprises purchase
.
This year, the price of the new production fluctuated slightly, some merchants paid attention to it, but affected by the lack of demand, the market is running smoothly, and the current market is bitter and the price of the new unified goods is 9.
5 yuan
.
Scutellaria baicalensis, Gansu and other production areas have begun to produce new, it is expected that the output of new goods is not small, coupled with the abundant market inventory, although the peak demand season has arrived, but the overall attention is not high, the source of goods is not moving fast, the price is weak, the current price of Gansu unified goods is about 19-20 yuan, Shanxi goods 23-24 yuan, in the short term to see flat
.
Fifth, comprehensive review 1, dandelion and diding and other varieties of procurement cost pressure is relatively large raw material pressure test shows that the current dandelion anti-inflammatory oral liquid raw materials raw materials from the supply pressure, mainly from dandelion and diding; From the perspective of quality pressure, it mainly comes from dandelion, skullcap and so on
.
2, dandelion impurities, high ash, high cost of processing dandelion is mostly franchised, general peripheral businesses are difficult to intervene
.
In 2022, the production of dandelion wild goods will be reduced, while the planting enthusiasm of household seeds is general, and the content is difficult to meet the standard, with the consumption of inventory, the dandelion market in the future market may
go higher.
However, due to the fact that the variety belongs to the short-cycle variety on the one hand, each high-price cycle is shorter, and the production is planted in one year, and the benefits are only seen in three years, so it is expected that the high price will be followed by a low-price period of three years; At the same time, high prices may also stimulate the resource exploration of new domestic production areas such as Xinjiang and Inner Mongolia, thereby inhibiting the market from rising too high
.
3, Pudilan anti-inflammatory oral liquid withdrawal from medical insurance to a certain extent affect the performance of Jichuan Pharmaceutical recently issued an announcement that Pudilan anti-inflammatory oral liquid will be transferred out of the provincial medical insurance directory
of many places from June 30, 2022.
In 2021, the sales of Pudilan anti-inflammatory oral liquid in Jiangsu Province, Hunan Province, Jilin Province, Qinghai Province and Tianjin City will be about 700 million yuan, mainly through OTC retail channels
.
In summary, although the cost of raw materials has increased in the core variety of Pudilan anti-inflammatory oral liquid of Jichuan Pharmaceutical, due to the low unit price of dandelion and bitter ditin, the actual impact on the cost is not large, and the company's biggest dilemma in the future is the impact of
this exclusive large variety with annual sales of more than 2 billion yuan from the provincial medical insurance reimbursement directory in many places.
Although Jichuan Pharmaceutical is betting on the growth hormone track, it is difficult to quench the thirst of distant water, and the pressure on performance in the short term is still large; At the same time, the enterprise is also a large consumer of raw materials such as dandelion, diding and skullcap, and once the sales volume of proprietary drugs declines, it is bound to affect the consumption of related raw materials
.
First, the proportion of pyrolytic and detoxifying proprietary Chinese medicines in large hospitals and enterprises is two, Pudilan anti-inflammatory oral liquid composition three, Pudilan anti-inflammatory oral liquid raw materials rise and fall four, Pudilan anti-inflammatory oral liquid raw materials market review procurement five, comprehensive review OTC