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Minimally Invasive Medical loses 1.2-13 billion yuan in drug balloons

 Last Update: 2021-03-23
 Source: Internet
 Author: User

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Medical Network News on March 3　

Minimally Invasive Medical: loss of 1.
2-13 billion yuan

Recently, MicroPort Medical issued an announcement that according to the unaudited consolidated financial statements of the board of directors, for the 12 months ended December 31, 2020, it recorded a loss attributable to equity shareholders of approximately US$188 million to US$203 million, which is equivalent to RMB 1.
215 billion to RMB 1.
312 billion.

In the same period of 2019, MicroPort Medical recorded a period profit attributable to equity shareholders of approximately US$46.
3 million, equivalent to approximately RMB 300 million.

According to the announcement, the performance change is mainly due to:

(1) Affected by the novel coronavirus pneumonia epidemic, the number of outpatient visits and operations in medical institutions dropped sharply, resulting in a year-on-year decrease in the sales revenue of implantable devices during the reporting period;

(2) Affected by China's centralized procurement policy of coronary stents in the fourth quarter, the price subsidy adjustments for products sold in the channel but not implanted with reference to the implementation price of 2021;

(3) During the reporting period, according to the share award plan, several employees, including an executive director, were granted incentive stocks to confirm the cost;

(4) There was no one-time investment income from the disposal of part of the equity of Shanghai MicroPort Electrophysiology Medical Technology Co.
, Ltd.
in the same period last year.

　　At the same time, Lepu Medical also released the 2020 annual results bulletin, showing that in 2020, the operating income will be about 8.
06 billion yuan, an increase of 3.
35% over the same period of the previous year, and the total profit will be about 2.
29 billion yuan, an increase of 11.
22% over the same period of the previous year.
It is attributable to listed companies.
The shareholders' net profit after deducting non-recurring gains and losses was approximately 1.
43 billion yuan, an increase of 15.
11% over the same period last year.

　　Previously, Lepu Medical released its annual performance forecast.
As for the reasons for performance changes, the company's operations were normal in the first three quarters of 2020.
In the fourth quarter, the state organized centralized procurement of coronary stents, and stent products achieved very few sales.
At the same time, the existing stents that have been sold but not implanted in the channel will cause a large loss to be accrued.
In addition, Lepu Medical continued to increase its R&D investment in the fourth quarter, significantly increasing R&D expenditures.

　　Businesses other than Lepu Medical Stent continued to operate normally.

　　The growth of the drug balloon is very significant

　　After the coronary stent is purchased in quantity, the drug balloon may become a new growth point in the field of coronary intervention.

　　On January 29, after suffering a loss in the fourth quarter, Lepu Medical announced that in the first quarter of 2021, Lepu Medical will achieve a profit of 490 million-600 million yuan, an increase of 30% -60% over the same period of the previous year.

　　Although the traditional stent business has dropped significantly, drug balloons, cutting balloons, etc.
have all achieved very significant growth.

　　Recently, according to the eight-point health news, several people from the pharmnet.
com.
cn/news/yyzb/" target="_blank">procurement departments of different hospitals in thepharmnet.
com.
cn/news/yyzb/" target="_blank"> north and south said that the use of drug balloons, which are more expensive than pre-collective coronary stents, increased significantly in January and February.

　　According to the Guangdong Provincial Medical Insurance Bureau, the historical average price of some drug balloons in Guangdong Province is 23,748 yuan.

　　The drug-coated balloon is composed of three parts: a balloon, an anti-proliferative drug, and a coating carrier material.
It releases the anti-proliferative drug to the coronary artery wall to achieve the effect of inhibiting the proliferation of the vascular intima.

　　According to information from Leading Industry Research Network, drug balloons have the following advantages compared with drug-eluting stents:

　　(1) Avoid the overlapping placement of multi-layer stents and reduce the impact on coronary anatomy;

　　(2) The drug balloon can evenly coat the drug on the blood vessel wall, which can reduce the delay of endothelialization caused by the uneven distribution of the metal rod of the stent;

　　(3) There is no need for multiple polymers and will not induce late thrombosis;

　　(4) It is possible to reduce the time of dual antiplatelet therapy.

　　However, it is worth noting that drug balloons cannot completely replace drug-eluting stents because:

　　(1) It cannot solve the acute elastic retraction of blood vessels, severe dissection after balloon expansion, which affects blood flow or acute vascular occlusion, and urgent stent placement is still needed;

　　(2) The drug-eluting stent is indeed better than the drug balloon in the inner diameter of the largest lumen after implantation;

　　(3) The efficacy and safety of new drug-eluting stent products have been continuously improved, and the long-term efficacy may be due to drug balloons.

　　Or continue to bargain

　　According to data from New Thinking, in terms of global drug balloon development, the global drug balloon market reached approximately US$680 million in 2019.
It is estimated that the market size will reach US$1.
75 billion by 2025, with a compound annual growth rate of about 17.
1%.
It is in a stage of rapid development.

　　According to the information of China Industry Information Network, more than ten kinds of drug balloons have been listed in the world.
In 2003, Braun of Germany first launched DCB products, and Medtronic, Bristol, Boston Scientific, and Ke Hui (later acquired by Medtronic) successively launched drugs.
Balloons are currently coated with paclitaxel-based drugs.

　　The drug-coated balloon industry in my country started late, but its development speed is relatively fast.
At present, domestically-made drug balloons are gradually being recognized by the market.

　　As of the first half of 2020, the drug-coated balloon products developed by many local companies such as Yinyi Biotechnology, Yuanda Pharmaceutical , Xerida, Xinmai Medical, Lepu Medical, etc.
have been approved for listing, and dozens of companies are still in the pipeline.
Engaged in the research and development of drug-coated balloons, which are expected to be launched in the future.

　　In the world, the United States is the largest market for drug-coated balloons.
Medtronic and Bard occupy major global market shares.
The Chinese market is still in the early stage of cultivation and has great potential for future development.

　　However, after the coronary stents were purchased in quantities nationwide, the drug balloons also began the country's first mass procurement.

　　On December 23, 2020, according to the Guangdong Provincial Medical Insurance Bureau, the seven provincial alliances of Guangdong, Jiangxi, Henan, Guangxi, Ningxia, Qinghai, and Shaanxi completed volume purchases.
In the end, the average decrease of inflatable balloons was 92.
23%, and the average decrease of drug balloons was 44.
45.
%.