More and more listed companies may be impacted by the increasingly limited injection of traditional Chinese Medicine

Recently, a microblog released by dingxiangyuan price official micro blog said: "Beijing Chaoyang Hospital will prohibit the existence and use of any traditional Chinese medicine injection preparation in the hospital by administrative means." In the next day, the microblog reached more than 1000 comments, more than 5000 forwarding, and the snowball investment in social networks was also hotly debated by many investors The focus of the debate is the waste of traditional Chinese medicine injections After that, the special clarification of Beijing Chaoyang Hospital highlighted the awkward position of traditional Chinese medicine injection: "Beijing Chaoyang Hospital has never had traditional Chinese medicine injection Therefore, there is no "Prohibition of the existence and use of any traditional Chinese medicine injection preparation by administrative means" However, as far as I know, at present, traditional Chinese medicine injection is facing a dilemma On the one hand, it is often criticized for its frequent adverse reactions, and many hospitals hold a boycott attitude towards it; on the other hand, the listed companies related to traditional Chinese medicine injections have a considerable increase in profits, often becoming the cradle of pharmaceutical bull stocks According to industry insiders, the outline of 2015 edition of Chinese Pharmacopoeia requires further strengthening the safety control of high-risk traditional Chinese medicine injections, which means that the use of some traditional Chinese medicine injections may be reduced For those listed companies that take this as their main business, what is the way ahead? It is reported that in Beijing, Tongren Hospital, Chaoyang Hospital, Tiantan Hospital, etc currently have no use of traditional Chinese medicine injections, while the traditional Chinese Medicine Department of Jishuitan Hospital no longer uses traditional Chinese medicine injections for daily diagnosis and treatment, only after the consultation of traditional Chinese medicine experts Yibai Pharmaceutical Co., Ltd and other relevant personnel of several enterprises producing traditional Chinese medicine injections confirmed to the author that Chaoyang Hospital had not used their traditional Chinese medicine injections A pharmaceutical enterprise official said that at present, many top three hospitals in beishangguang basically do not use traditional Chinese medicine injections, and even some local traditional Chinese Medicine hospitals are limiting the use of such products At present, the restrictions on traditional Chinese medicine injection are gradually tightening Previously, it was reported that the government has the intention to cut down on traditional Chinese medicine injection, or 80% of products will die out A salesman from a pharmaceutical company told the author that there are more than 100 kinds of traditional Chinese medicine injections at present, and there are quality concerns "The government plans to cut down some varieties in the next five years after comprehensive screening From the current 141 kinds, there are only 50 kinds left in the screening." The author called Yan Jiangying, spokesman of the State Food and drug administration, for confirmation, but she said only that "there is no news release at present, and all information is mainly from the official website." Before that, traditional Chinese medicine injection has a long history, but it has been controversial since its birth Zhang Lijun, a doctor in a local hospital of traditional Chinese medicine in Henan Province, said to the author that the injection of traditional Chinese medicine came into being in a special period Due to the lack of Western medicine during the Anti Japanese War, it was developed by itself The price injection of Bupleurum chinense was the first product with good effect, and then it began to encourage research and development "However, due to inadequate regulatory standards and excessive R & D by enterprises, various medical accidents of traditional Chinese medicine injection occurred frequently, and the overall reputation of the industry was very poor." For example, in the event of Houttuynia cordata price in 2006, several patients died directly after using the related injection; in 2008, there were three death events of Ciwujia price injection, and Yinzhihuang injection caused adverse reactions in four newborns, including one death event According to the data from the national ADR monitoring network, in 2012, the national ADR monitoring network received 103 thousand reports of 14 categories of traditional Chinese medicine injections, including more than 5500 serious reports, accounting for 5.3% Compared with 2011, the number of reported traditional Chinese medicine injections increased by 58.2% year-on-year, higher than the overall growth rate reported by the national ADR monitoring data; the serious report increased by 37.2% year-on-year, lower than the overall growth rate of serious report In addition, it should be noted that in the serious reports received by the national ADR monitoring network in 2012, the top 20 cases of Chinese patent medicine were all Chinese herbal injections The frequent occurrence of adverse events has cast a thick shadow on the traditional Chinese medicine injection, and the call for the cancellation of the traditional Chinese medicine injection is endless For example, after the Houttuynia cordata price incident, the State Food and Drug Administration suspended the sale and use of seven kinds of related drugs Several other types of events have the same result Due to the large profit margin of traditional Chinese medicine injections, many enterprises rely too much on traditional Chinese medicine injections After being suspended, enterprises directly fall into the dilemma of returning and stopping production In the event of Houttuynia cordata price, nearly 100 enterprises' production lines were in the state of shutdown and half production, more than 10 enterprises were directly on the verge of bankruptcy, and the industry loss reached about 2 billion yuan However, due to the attraction of profits, many pharmaceutical enterprises still rely on traditional Chinese medicine injection excessively, and the past structure layout has not changed much According to the statistics of listed Chinese medicine injection manufacturers, without exception, the business focus of each company is still Chinese medicine injection, the proportion of injection revenue is more than half, and the investment in scientific research projects is also biased towards injection According to the situation of Chinese medicine injection production enterprises that have published the 2013 Zhongbao, Shanghai Kaibao has a single product, with the revenue of Chinese medicine injection accounting for 99% of the total revenue, and it is the enterprise with the most concentrated revenue in its industry; the proportion of Xueshuantong in Zhongheng group also reached a high of 88%; the proportion of injection revenue in HongRi pharmaceutical industry and Kangyuan pharmaceutical industry also accounted for 64% and 55% in 2013 However, some listed pharmaceutical companies are not too worried about the tightening And the relevant personnel of Zhongheng group also said to the author, because the quality is guaranteed, there is no problem compared with the major "I'm very confident in the quality of our injection Xueshuantong, which has reached the highest level in the same industry We have quality data statistics for more than 20 years, and the adverse reaction rate is below 6 / 10000, which is very low in the industry Moreover, the adverse reactions are allergic, and there is no major safety accident What's more, we have freeze-dried injections The technology content is totally different from that of other enterprises " However, a Beijing Securities analyst believes that the company is a bit of blind optimism, "when there is an industry crisis or policy reduction, the performance will definitely be greatly affected, and the stock price will face a wave of killing market." However, Shanghai Kaibao has realized its own risk, and its relevant people said to the author, "at present, in order to solve the single product problem, the company has made great efforts and is considering other varieties The field is now considering the development of cardio cerebrovascular and anti-tumor drugs In addition to preparations, the products are also starting to make capsules and oral liquids." People from Zhongheng group said that the company is also trying to do other businesses, "for example, it has acquired some chemical manufacturers and is currently cooperating with Canadian companies to do FDA certification for brain tumors, which is not an injection either." Since the risk of the industry is large, why do pharmaceutical companies rush to produce traditional Chinese medicine injection? According to the above pharmaceutical analysts, due to the large profit margin, compared with western medicine, the investment cost of traditional Chinese medicine and injection R & D companies is relatively low In addition, traditional Chinese medicine injection varieties are often exclusive, especially the listed companies have strong exclusivity and flexible price "The rebate space of traditional Chinese medicine injection is much larger than that of general medicine, which is easier to sell." Zhang Lijun said He said that in the bidding list of the local health bureau, the proportion of traditional Chinese medicine injections is not large Many traditional Chinese medicine injection enterprises go directly to the hospital to "overcome difficulties" and sell large kickbacks to the hospital or doctors For the hospital or doctors, the general medicine kickbacks that have entered the list are small, so for profit-making purposes, many hospitals or doctors accept traditional Chinese medicine injections A personage in the industry thinks that it is inevitable to further reduce and control traditional Chinese medicine injection more strictly, which is a serious impact for some listed companies whose main business is traditional Chinese medicine injection Some small pharmaceutical companies will surely go out of business first, and some listed companies will soon fall into the dilemma of loss if they do not mention the transformation "It's clear that their good times are over."