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In the first three quarters of this year, the overall performance of listed companies in the pharmaceutical sector maintained steady growth
.
CITIC Securities Research Report pointed out that in the first three quarters of this year, the operating income and net profit of listed pharmaceutical companies increased by 17.
50% and 20.
32% year-on-year, respectively, compared with 22.
32% and 33.
93% in the same period last year, and the growth rate has slowed down
.
The structure of the pharmaceutical sector is clearly differentiated.
From the perspective of subdivisions, in the first three quarters of this year, the innovative drugs, medical devices, CXO and API sectors all showed rapid growth, while the revenue and net profit growth of the pharmaceutical retail sector declined slightly
.
So, is there still a chance to make a layout in the pharmaceutical sector next? Looking forward to 2022, many brokerage firms believe that multiple sub-tracks in the pharmaceutical sector can be tapped
.
For example, Huatai Securities released a research report stating that the profit of the pharmaceutical industry will be driven by testing and vaccines to grow rapidly in 2021.
Looking forward to 2022, it is expected that the pharmaceutical industry will fully recover with the recovery of hospital diagnosis and treatment
.
The agency said that the segmentation track is optimistic about medical services and CDMO.
At the same time, it continues to be optimistic about related topics such as innovative medicine and equipment, consumer medical treatment and policy immunization in the medium term
.
Soochow Securities suggests that the pharmaceutical strategy should be focused on both, on the one hand, it should focus on high-growth, high-position CXO, scientific research services and other sectors; on the other hand, look for relatively low-position, low-value blood products, consumer medical and other sectors that have undergone positive changes
.
Concerns about the implementation of key policies for blood products, the approval of pulp stations has been accelerated, and import substitution has accelerated, and Boya Bio, Tiantan Bio, etc.
are recommended; consumer medical care is immune to policy fluctuations, and Yuyue Medical is recommended, and Zhende Medical is recommended
.
Zhongtai Securities said that in the long run, policies will catalyze the increase in industry concentration, leading companies will remain strong, and medical needs will endure for a long time
.
Six directions are recommended from the perspective of innovation and upgrading: Innovative drugs and their industrial chains: We are optimistic about the leading pharmaceutical companies with global innovation capabilities, Hengrui Pharmaceuticals, China Biopharmaceuticals, Fosun Pharmaceuticals, Cinda Biologicals, Betta Pharmaceuticals, Junshi Biologicals Etc.
; the leading companies in the innovative drug industry chain WuXi AppTec, WuXi Biologics, Kang Long Chemical, Tigermed, Kailai Ying, etc.
; medical services
.
Optimistic about Aier Ophthalmology, Tongce Medical, etc.
; innovative vaccines: Optimistic about Zhifei Biology, Kangtai Biologics, etc.
; Featured APIs: Optimistic about Prologue Pharmaceuticals, Stellite, Tianyu, etc.
; Innovative devices: Optimistic about import substitution driven by innovation such as Mindray medical, open healthcare, medicine and other South micro; chain Drug Stores: promising Dashenlin, Yifeng pharmacies
.
On the whole, the innovative drugs and CXO sectors are generally favored by securities firms
.
Among them, in the field of innovative drugs, policy expectations in the past few months have brought significant callbacks to the pharmaceutical sector, and the sector may already be in the bottom area
.
Coupled with the implementation of medical insurance negotiations, the nationally negotiated prices of innovative drugs are better than market expectations, which will further encourage the enthusiasm of pharmaceutical companies to innovate.
Some institutions even believe that this "long slope and thick snow" industry will return strongly in 2022
.
The CXO industry has ushered in a new era of development.
As the global CRO industry gradually shifts to Asia represented by China, coupled with the return of biomedical talents from Shanghai and the engineer dividend formed by a large number of biochemical talents cultivated in China, As well as the increase of capital, the CXO industry will usher in take-off
.
According to industry forecasts, the compound annual growth rate of global pharmaceutical R&D outsourcing will be 11.
4% before 2025, while the compound annual growth rate of the Chinese market will be 26.
6%
.
Under the background that the market concentration of the CXO industry is expected to increase, the industry's leading companies are expected to usher in opportunities
.
.
CITIC Securities Research Report pointed out that in the first three quarters of this year, the operating income and net profit of listed pharmaceutical companies increased by 17.
50% and 20.
32% year-on-year, respectively, compared with 22.
32% and 33.
93% in the same period last year, and the growth rate has slowed down
.
The structure of the pharmaceutical sector is clearly differentiated.
From the perspective of subdivisions, in the first three quarters of this year, the innovative drugs, medical devices, CXO and API sectors all showed rapid growth, while the revenue and net profit growth of the pharmaceutical retail sector declined slightly
.
So, is there still a chance to make a layout in the pharmaceutical sector next? Looking forward to 2022, many brokerage firms believe that multiple sub-tracks in the pharmaceutical sector can be tapped
.
For example, Huatai Securities released a research report stating that the profit of the pharmaceutical industry will be driven by testing and vaccines to grow rapidly in 2021.
Looking forward to 2022, it is expected that the pharmaceutical industry will fully recover with the recovery of hospital diagnosis and treatment
.
The agency said that the segmentation track is optimistic about medical services and CDMO.
At the same time, it continues to be optimistic about related topics such as innovative medicine and equipment, consumer medical treatment and policy immunization in the medium term
.
Soochow Securities suggests that the pharmaceutical strategy should be focused on both, on the one hand, it should focus on high-growth, high-position CXO, scientific research services and other sectors; on the other hand, look for relatively low-position, low-value blood products, consumer medical and other sectors that have undergone positive changes
.
Concerns about the implementation of key policies for blood products, the approval of pulp stations has been accelerated, and import substitution has accelerated, and Boya Bio, Tiantan Bio, etc.
are recommended; consumer medical care is immune to policy fluctuations, and Yuyue Medical is recommended, and Zhende Medical is recommended
.
Zhongtai Securities said that in the long run, policies will catalyze the increase in industry concentration, leading companies will remain strong, and medical needs will endure for a long time
.
Six directions are recommended from the perspective of innovation and upgrading: Innovative drugs and their industrial chains: We are optimistic about the leading pharmaceutical companies with global innovation capabilities, Hengrui Pharmaceuticals, China Biopharmaceuticals, Fosun Pharmaceuticals, Cinda Biologicals, Betta Pharmaceuticals, Junshi Biologicals Etc.
; the leading companies in the innovative drug industry chain WuXi AppTec, WuXi Biologics, Kang Long Chemical, Tigermed, Kailai Ying, etc.
; medical services
.
Optimistic about Aier Ophthalmology, Tongce Medical, etc.
; innovative vaccines: Optimistic about Zhifei Biology, Kangtai Biologics, etc.
; Featured APIs: Optimistic about Prologue Pharmaceuticals, Stellite, Tianyu, etc.
; Innovative devices: Optimistic about import substitution driven by innovation such as Mindray medical, open healthcare, medicine and other South micro; chain Drug Stores: promising Dashenlin, Yifeng pharmacies
.
On the whole, the innovative drugs and CXO sectors are generally favored by securities firms
.
Among them, in the field of innovative drugs, policy expectations in the past few months have brought significant callbacks to the pharmaceutical sector, and the sector may already be in the bottom area
.
Coupled with the implementation of medical insurance negotiations, the nationally negotiated prices of innovative drugs are better than market expectations, which will further encourage the enthusiasm of pharmaceutical companies to innovate.
Some institutions even believe that this "long slope and thick snow" industry will return strongly in 2022
.
The CXO industry has ushered in a new era of development.
As the global CRO industry gradually shifts to Asia represented by China, coupled with the return of biomedical talents from Shanghai and the engineer dividend formed by a large number of biochemical talents cultivated in China, As well as the increase of capital, the CXO industry will usher in take-off
.
According to industry forecasts, the compound annual growth rate of global pharmaceutical R&D outsourcing will be 11.
4% before 2025, while the compound annual growth rate of the Chinese market will be 26.
6%
.
Under the background that the market concentration of the CXO industry is expected to increase, the industry's leading companies are expected to usher in opportunities
.
