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412 ，49，A12002020。，。
，。，1152020288.
65，2019241.
04。，2018-2020，，3.
22%、3.
23%、3.
65%。
65，2019241.
04。，2018-2020，，3.
22%、3.
23%、3.
65%。
，，，，。
：
PD-1
Although the proportion of research and development is only ranked fourth, the research and development expenses of as high as 1.
778 billion yuan make Junshi Biologics ranked first among the above six pharmaceutical companies.
Compared with the same period of the previous year, Junshi Bio's R&D investment has not decreased at all, and R&D expenses have increased by 87.
93%.
This is due to the continuous enrichment of the product pipeline during the reporting period, continuous exploration of drug combination therapy, and rapid advancement of existing clinical projects Resulted from the development of the development and reserve of R&D projects.
778 billion yuan make Junshi Biologics ranked first among the above six pharmaceutical companies.
Compared with the same period of the previous year, Junshi Bio's R&D investment has not decreased at all, and R&D expenses have increased by 87.
93%.
This is due to the continuous enrichment of the product pipeline during the reporting period, continuous exploration of drug combination therapy, and rapid advancement of existing clinical projects Resulted from the development of the development and reserve of R&D projects.
With the halo that the first domestically produced anti-PD-1 monoclonal antibody drug was approved for marketing, Junshi Bio's teriprizumab has attracted attention from the industry.
During the reporting period, the distribution of indications in the subdivision of teriprizumab has also entered a new stage, and applications for new indications for nasopharyngeal carcinoma and urothelial carcinoma have also been accepted by the NMPA.
In addition, the world's first anti- tumor BTLA monoclonal antibody TAB004/JS004, recombinant humanized anti-IL-17A monoclonal antibody JS005, new coronavirus neutralizing antibody etesevimab, which has entered the field of anti-infection treatment, and many other Junshi Biologics pipeline products, A number of important clinical developments were made during the reporting period.
During the reporting period, the distribution of indications in the subdivision of teriprizumab has also entered a new stage, and applications for new indications for nasopharyngeal carcinoma and urothelial carcinoma have also been accepted by the NMPA.
In addition, the world's first anti- tumor BTLA monoclonal antibody TAB004/JS004, recombinant humanized anti-IL-17A monoclonal antibody JS005, new coronavirus neutralizing antibody etesevimab, which has entered the field of anti-infection treatment, and many other Junshi Biologics pipeline products, A number of important clinical developments were made during the reporting period.
It is worth noting that compared with the same period of the previous year, Junshi Bio's R&D accounted for a decrease of 9.
34%, which is not unrelated to the direct sales growth of triplimumab that directly promoted revenue growth over 1 billion yuan in the whole year.
From the industry's perspective, with the approval of the new indications of Teriplizumab and the increased volume of its inclusion in the medical insurance catalog, Junshi Bio is expected to further increase its revenue in the future, and the proportion of research and development may gradually fall to the normal range.
34%, which is not unrelated to the direct sales growth of triplimumab that directly promoted revenue growth over 1 billion yuan in the whole year.
From the industry's perspective, with the approval of the new indications of Teriplizumab and the increased volume of its inclusion in the medical insurance catalog, Junshi Bio is expected to further increase its revenue in the future, and the proportion of research and development may gradually fall to the normal range.
Sansheng Guojian:
Plan ahead and lay out key tracks
Immediately behind Junshi Bio is Sansheng Guojian, which, alongside Microchip Biosciences, has become the only profitable pharmaceutical company on the list.
Specifically, Sansheng Guojian’s R&D investment in 2020 totaled 376 million yuan, an increase of 28.
48% over the same period last year.
The total R&D investment accounted for 57.
31% of operating income, an increase of 32.
5% compared to the same period last year.
Specifically, Sansheng Guojian’s R&D investment in 2020 totaled 376 million yuan, an increase of 28.
48% over the same period last year.
The total R&D investment accounted for 57.
31% of operating income, an increase of 32.
5% compared to the same period last year.
For Sansheng Guojian, its main product, Yisaipu, is its main source of revenue and profit.
As the first tumor necrosis factor (TNF-α) inhibitor to be listed in the domestic rheumatism field, it fills the entire human resource of domestic companies.
The blank of therapeutic antibody drugs.
Although its share in the TNF-α drug market has reached 45.
5%, Yisaipu is still facing competition in many aspects in the market of innovative drugs and biosimilar drugs.
As of the end of 2020, there are more than 10 TNF-α inhibitor drugs approved for marketing in China, and the competition for products under research is also fierce.
As the first tumor necrosis factor (TNF-α) inhibitor to be listed in the domestic rheumatism field, it fills the entire human resource of domestic companies.
The blank of therapeutic antibody drugs.
Although its share in the TNF-α drug market has reached 45.
5%, Yisaipu is still facing competition in many aspects in the market of innovative drugs and biosimilar drugs.
As of the end of 2020, there are more than 10 TNF-α inhibitor drugs approved for marketing in China, and the competition for products under research is also fierce.
Although the recombinant anti-CD25 humanized monoclonal antibody Jiannipa and the initumumab ceptin, which was approved last year and entered the medical insurance, have not yet reached the market, Sansheng Guojian, which is prepared for a rainy day, is already laying out relevant key tracks.
It is reported that Sansheng Guojian has 18 antibody drugs under development in different stages of development, covering tumor, autoimmunity and ophthalmology and other diseases .
Most of the drugs under development are category 1 therapeutic biological products, and some of the drugs under development are Sino-US Double News.
It is reported that Sansheng Guojian has 18 antibody drugs under development in different stages of development, covering tumor, autoimmunity and ophthalmology and other diseases .
Most of the drugs under development are category 1 therapeutic biological products, and some of the drugs under development are Sino-US Double News.
In view of the continuous deepening of the research and development project process and the forward-looking layout of the future antibody drug research and development field, the initial investment in the research and development project has increased.
Sansheng Guojian also stated that the research and development projects will increase with the needs of the research and development stage.
Continue to incur a relatively large amount of research and development expenses.
It can be inferred from this that Sansheng Guojian will still not miss next year's R&D share list.
Sansheng Guojian also stated that the research and development projects will increase with the needs of the research and development stage.
Continue to incur a relatively large amount of research and development expenses.
It can be inferred from this that Sansheng Guojian will still not miss next year's R&D share list.
Biotech:
Terminate three new drug projects
Following closely behind is Biotech.
In 2020, Biotech's R&D expenses were 562 million yuan, a year-on-year increase of -11%.
It is the only company in the top six pharmaceutical companies whose R&D expenses have fallen year-on-year.
However, Biotech stated that it will continue to invest in large-scale research and development expenses in the future, mainly for the completion of pre-clinical research, clinical trials and preparations for new drugs before the launch of research projects and the commercialization of marketed drugs.
In 2020, Biotech's R&D expenses were 562 million yuan, a year-on-year increase of -11%.
It is the only company in the top six pharmaceutical companies whose R&D expenses have fallen year-on-year.
However, Biotech stated that it will continue to invest in large-scale research and development expenses in the future, mainly for the completion of pre-clinical research, clinical trials and preparations for new drugs before the launch of research projects and the commercialization of marketed drugs.
It is worth noting that as of the first quarter of this year, Biotech has announced the termination of the development of three new drug projects, including BAT8003 in phase I clinical trials, BAT1306 in phase II clinical trials, and phase III clinical studies.
The BAT8001 project.
Among them, BAT8003 is a recombinant humanized anti-Trop2 monoclonal antibody-maytansine conjugate for injection, mainly for Trop2-positive advanced epithelial cancer; BAT1306 is a PD-1 monoclonal antibody developed by Biotech.
The drug indication is EBV-related gastric cancer.
The BAT8001 project.
Among them, BAT8003 is a recombinant humanized anti-Trop2 monoclonal antibody-maytansine conjugate for injection, mainly for Trop2-positive advanced epithelial cancer; BAT1306 is a PD-1 monoclonal antibody developed by Biotech.
The drug indication is EBV-related gastric cancer.
According to incomplete statistics, Biotech has invested about 336 million yuan in three projects.
Regarding the reasons for terminating the above-mentioned R&D project, Biotech stated in the announcement that the project has high clinical development and market risks.
In response to the PD-1 monoclonal antibody project that is highly concerned in the industry, Biotech admits that China is the most competitive region for PD-1.
There are 154 PD-1s in the world, of which 85 are developed or jointly developed by Chinese companies, accounting for 55% , The research and development track has become crowded, making development costs further aggravated.
Regarding the reasons for terminating the above-mentioned R&D project, Biotech stated in the announcement that the project has high clinical development and market risks.
In response to the PD-1 monoclonal antibody project that is highly concerned in the industry, Biotech admits that China is the most competitive region for PD-1.
There are 154 PD-1s in the world, of which 85 are developed or jointly developed by Chinese companies, accounting for 55% , The research and development track has become crowded, making development costs further aggravated.
From the perspective of business structure, the current annual operating income of Biotech’s main business adalimumab is 180 million yuan, accounting for 100% of the revenue.
Biotech’s current annual revenue is almost supported by this drug.
.
From the industry's point of view, when only one product is on the market, it is reasonable for Biotech to suspend three drugs this year in consideration of reducing R&D investment and timely stop loss.
Biotech’s current annual revenue is almost supported by this drug.
.
From the industry's point of view, when only one product is on the market, it is reasonable for Biotech to suspend three drugs this year in consideration of reducing R&D investment and timely stop loss.
Frontier biology:
Facing the patent crisis of the main varieties
Frontier biology, which ranks third in R&D investment, is still at a loss in 2020.
The reason for the loss is mainly due to its continuously increasing investment in R&D.
According to the research projects disclosed in the annual report, Frontier Bio's estimated total investment in the three drugs of Aikening, FB1002, FB2001, and FB3001 reached 1.
903 billion yuan, and a total of 123 million yuan was invested in 2020, with a cumulative investment of 558 million yuan.
The reason for the loss is mainly due to its continuously increasing investment in R&D.
According to the research projects disclosed in the annual report, Frontier Bio's estimated total investment in the three drugs of Aikening, FB1002, FB2001, and FB3001 reached 1.
903 billion yuan, and a total of 123 million yuan was invested in 2020, with a cumulative investment of 558 million yuan.
In 2020, Frontier Bio will achieve an operating income of approximately 46.
62 million yuan, a year-on-year increase of 123.
5%, but the main business relies on only Aikening, which accounts for 100.
0% of the revenue.
As the core product of cutting-edge biology, Aikening is China’s first original innovative drug for the treatment of AIDS and the world’s first long-acting HIV fusion inhibitor.
Due to the scarcity of domestic anti-HIV innovative drugs, it is foreseeable that my country’s medical insurance and self-funded anti-HIV The size of the viral drug market will usher in rapid development, and patients will gradually form a combination of medical insurance + self-finance to purchase anti-HIV drugs.
For the tens of billions of blue ocean market, Aikening can be said to have just started.
62 million yuan, a year-on-year increase of 123.
5%, but the main business relies on only Aikening, which accounts for 100.
0% of the revenue.
As the core product of cutting-edge biology, Aikening is China’s first original innovative drug for the treatment of AIDS and the world’s first long-acting HIV fusion inhibitor.
Due to the scarcity of domestic anti-HIV innovative drugs, it is foreseeable that my country’s medical insurance and self-funded anti-HIV The size of the viral drug market will usher in rapid development, and patients will gradually form a combination of medical insurance + self-finance to purchase anti-HIV drugs.
For the tens of billions of blue ocean market, Aikening can be said to have just started.
However, there are also investors who worry about whether Aikening of Frontier Biotech can obtain new patent protection before its core patent expires in 2023.
After Aikening's patent expires, generic drugs will inevitably appear in the market.
However, my country's generic drug market is already highly competitive.
At that time, Frontier Bio will face the risk of lowering product prices, which will affect sales and cause another loss.
After Aikening's patent expires, generic drugs will inevitably appear in the market.
However, my country's generic drug market is already highly competitive.
At that time, Frontier Bio will face the risk of lowering product prices, which will affect sales and cause another loss.
Comparing the R&D investment of multinational pharmaceutical giants, it can be found that although the overall R&D ratio of innovative pharmaceutical companies is much higher than the former, the absolute value of R&D investment is still difficult to match.
This is the special nature of biotechnology companies at the current stage.
.
Under the new industrial ecology, as a key force for local pharmaceutical innovation, innovative pharmaceutical companies will compete not only in the richness of R&D pipelines, but also in comprehensive competition in different dimensions such as product production, sales and marketing.
This is the special nature of biotechnology companies at the current stage.
.
Under the new industrial ecology, as a key force for local pharmaceutical innovation, innovative pharmaceutical companies will compete not only in the richness of R&D pipelines, but also in comprehensive competition in different dimensions such as product production, sales and marketing.
Pharmaceutical Net, April 12, according to Wind data statistics, as of April 9, a total of more than 1,200 companies in the two A-share cities have disclosed their R&D investment in 2020.
Judging from the ranking of the ratio of R&D investment to operating income, biomedical companies have taken the top six positions.
Judging from the ranking of the ratio of R&D investment to operating income, biomedical companies have taken the top six positions.
In recent years, listed pharmaceutical companies have generally increased their R&D investment.
According to statistics, 115 pharmaceutical companies will invest a total of 28.
865 billion yuan in R&D in 2020, an increase of nearly 20% from the 24.
104 billion yuan in 2019.
From the overall situation, from 2018 to 2020, the ratio of R&D expenditure to operating income in the pharmaceutical and biological industry has shown an upward trend year by year, respectively 3.
22%, 3.
23%, and 3.
65%.
According to statistics, 115 pharmaceutical companies will invest a total of 28.
865 billion yuan in R&D in 2020, an increase of nearly 20% from the 24.
104 billion yuan in 2019.
From the overall situation, from 2018 to 2020, the ratio of R&D expenditure to operating income in the pharmaceutical and biological industry has shown an upward trend year by year, respectively 3.
22%, 3.
23%, and 3.
65%.
However, behind the continuous increase of R&D investment by pharmaceutical companies, whether product R&D investment is directly proportional to product revenue, especially for companies with limited profitability in the short-term, whether rising R&D expenses will cause them to face financial risks such as financing less than expected It is worth thinking about the industry.
Junshi Bio:
Accelerate the expansion of new indications for PD-1
Although the proportion of research and development is only ranked fourth, the research and development expenses of as high as 1.
778 billion yuan make Junshi Biologics ranked first among the above six pharmaceutical companies.
Compared with the same period of the previous year, Junshi Bio's R&D investment has not decreased at all, and R&D expenses have increased by 87.
93%.
This is due to the continuous enrichment of the product pipeline during the reporting period, continuous exploration of drug combination therapy, and rapid advancement of existing clinical projects Resulted from the development of the development and reserve of R&D projects.
778 billion yuan make Junshi Biologics ranked first among the above six pharmaceutical companies.
Compared with the same period of the previous year, Junshi Bio's R&D investment has not decreased at all, and R&D expenses have increased by 87.
93%.
This is due to the continuous enrichment of the product pipeline during the reporting period, continuous exploration of drug combination therapy, and rapid advancement of existing clinical projects Resulted from the development of the development and reserve of R&D projects.
With the halo that the first domestically produced anti-PD-1 monoclonal antibody drug was approved for marketing, Junshi Bio's teriprizumab has attracted attention from the industry.
During the reporting period, the distribution of indications in the subdivision of teriprizumab has also entered a new stage, and applications for new indications for nasopharyngeal carcinoma and urothelial carcinoma have also been accepted by the NMPA.
In addition, the world's first anti- tumor BTLA monoclonal antibody TAB004/JS004, recombinant humanized anti-IL-17A monoclonal antibody JS005, new coronavirus neutralizing antibody etesevimab, which has entered the field of anti-infection treatment, and many other Junshi Biologics pipeline products, A number of important clinical developments were made during the reporting period.
During the reporting period, the distribution of indications in the subdivision of teriprizumab has also entered a new stage, and applications for new indications for nasopharyngeal carcinoma and urothelial carcinoma have also been accepted by the NMPA.
In addition, the world's first anti- tumor BTLA monoclonal antibody TAB004/JS004, recombinant humanized anti-IL-17A monoclonal antibody JS005, new coronavirus neutralizing antibody etesevimab, which has entered the field of anti-infection treatment, and many other Junshi Biologics pipeline products, A number of important clinical developments were made during the reporting period.
It is worth noting that compared with the same period of the previous year, Junshi Bio's R&D accounted for a decrease of 9.
34%, which is not unrelated to the direct sales growth of triplimumab that directly promoted revenue growth over 1 billion yuan in the whole year.
From the industry's perspective, with the approval of the new indications of Teriplizumab and the increased volume of its inclusion in the medical insurance catalog, Junshi Bio is expected to further increase its revenue in the future, and the proportion of research and development may gradually fall to the normal range.
34%, which is not unrelated to the direct sales growth of triplimumab that directly promoted revenue growth over 1 billion yuan in the whole year.
From the industry's perspective, with the approval of the new indications of Teriplizumab and the increased volume of its inclusion in the medical insurance catalog, Junshi Bio is expected to further increase its revenue in the future, and the proportion of research and development may gradually fall to the normal range.
Sansheng Guojian:
Plan ahead and lay out key tracks
Immediately behind Junshi Bio is Sansheng Guojian, which, alongside Microchip Biosciences, has become the only profitable pharmaceutical company on the list.
Specifically, Sansheng Guojian’s R&D investment in 2020 totaled 376 million yuan, an increase of 28.
48% over the same period last year.
The total R&D investment accounted for 57.
31% of operating income, an increase of 32.
5% compared to the same period last year.
Specifically, Sansheng Guojian’s R&D investment in 2020 totaled 376 million yuan, an increase of 28.
48% over the same period last year.
The total R&D investment accounted for 57.
31% of operating income, an increase of 32.
5% compared to the same period last year.
For Sansheng Guojian, its main product, Yisaipu, is its main source of revenue and profit.
As the first tumor necrosis factor (TNF-α) inhibitor to be listed in the domestic rheumatism field, it fills the entire human resource of domestic companies.
The blank of therapeutic antibody drugs.
Although its share in the TNF-α drug market has reached 45.
5%, Yisaipu is still facing competition in many aspects in the market of innovative drugs and biosimilar drugs.
As of the end of 2020, there are more than 10 TNF-α inhibitor drugs approved for marketing in China, and the competition for products under research is also fierce.
As the first tumor necrosis factor (TNF-α) inhibitor to be listed in the domestic rheumatism field, it fills the entire human resource of domestic companies.
The blank of therapeutic antibody drugs.
Although its share in the TNF-α drug market has reached 45.
5%, Yisaipu is still facing competition in many aspects in the market of innovative drugs and biosimilar drugs.
As of the end of 2020, there are more than 10 TNF-α inhibitor drugs approved for marketing in China, and the competition for products under research is also fierce.
Although the recombinant anti-CD25 humanized monoclonal antibody Jiannipa and the initumumab ceptin, which was approved last year and entered the medical insurance, have not yet reached the market, Sansheng Guojian, which is prepared for a rainy day, is already laying out relevant key tracks.
It is reported that Sansheng Guojian has 18 antibody drugs under development in different stages of development, covering tumor, autoimmunity and ophthalmology and other diseases .
Most of the drugs under development are category 1 therapeutic biological products, and some of the drugs under development are Sino-US Double News.
It is reported that Sansheng Guojian has 18 antibody drugs under development in different stages of development, covering tumor, autoimmunity and ophthalmology and other diseases .
Most of the drugs under development are category 1 therapeutic biological products, and some of the drugs under development are Sino-US Double News.
In view of the continuous deepening of the research and development project process and the forward-looking layout of the future antibody drug research and development field, the initial investment in the research and development project has increased.
Sansheng Guojian also stated that the research and development projects will increase with the needs of the research and development stage.
Continue to incur a relatively large amount of research and development expenses.
It can be inferred from this that Sansheng Guojian will still not miss next year's R&D share list.
Sansheng Guojian also stated that the research and development projects will increase with the needs of the research and development stage.
Continue to incur a relatively large amount of research and development expenses.
It can be inferred from this that Sansheng Guojian will still not miss next year's R&D share list.
Biotech:
Terminate three new drug projects
Following closely behind is Biotech.
In 2020, Biotech's R&D expenses were 562 million yuan, a year-on-year increase of -11%.
It is the only company in the top six pharmaceutical companies whose R&D expenses have fallen year-on-year.
However, Biotech stated that it will continue to invest in large-scale research and development expenses in the future, mainly for the completion of pre-clinical research, clinical trials and preparations for new drugs before the launch of research projects and the commercialization of marketed drugs.
In 2020, Biotech's R&D expenses were 562 million yuan, a year-on-year increase of -11%.
It is the only company in the top six pharmaceutical companies whose R&D expenses have fallen year-on-year.
However, Biotech stated that it will continue to invest in large-scale research and development expenses in the future, mainly for the completion of pre-clinical research, clinical trials and preparations for new drugs before the launch of research projects and the commercialization of marketed drugs.
It is worth noting that as of the first quarter of this year, Biotech has announced the termination of the development of three new drug projects, including BAT8003 in phase I clinical trials, BAT1306 in phase II clinical trials, and phase III clinical studies.
The BAT8001 project.
Among them, BAT8003 is a recombinant humanized anti-Trop2 monoclonal antibody-maytansine conjugate for injection, mainly for Trop2-positive advanced epithelial cancer; BAT1306 is a PD-1 monoclonal antibody developed by Biotech.
The drug indication is EBV-related gastric cancer.
The BAT8001 project.
Among them, BAT8003 is a recombinant humanized anti-Trop2 monoclonal antibody-maytansine conjugate for injection, mainly for Trop2-positive advanced epithelial cancer; BAT1306 is a PD-1 monoclonal antibody developed by Biotech.
The drug indication is EBV-related gastric cancer.
According to incomplete statistics, Biotech has invested about 336 million yuan in three projects.
Regarding the reasons for terminating the above-mentioned R&D project, Biotech stated in the announcement that the project has high clinical development and market risks.
In response to the PD-1 monoclonal antibody project that is highly concerned in the industry, Biotech admits that China is the most competitive region for PD-1.
There are 154 PD-1s in the world, of which 85 are developed or jointly developed by Chinese companies, accounting for 55% , The research and development track has become crowded, making development costs further aggravated.
Regarding the reasons for terminating the above-mentioned R&D project, Biotech stated in the announcement that the project has high clinical development and market risks.
In response to the PD-1 monoclonal antibody project that is highly concerned in the industry, Biotech admits that China is the most competitive region for PD-1.
There are 154 PD-1s in the world, of which 85 are developed or jointly developed by Chinese companies, accounting for 55% , The research and development track has become crowded, making development costs further aggravated.
From the perspective of business structure, the current annual operating income of Biotech’s main business adalimumab is 180 million yuan, accounting for 100% of the revenue.
Biotech’s current annual revenue is almost supported by this drug.
.
From the industry's point of view, when only one product is on the market, it is reasonable for Biotech to suspend three drugs this year in consideration of reducing R&D investment and timely stop loss.
Biotech’s current annual revenue is almost supported by this drug.
.
From the industry's point of view, when only one product is on the market, it is reasonable for Biotech to suspend three drugs this year in consideration of reducing R&D investment and timely stop loss.
Frontier biology:
Facing the patent crisis of the main varieties
Frontier biology, which ranks third in R&D investment, is still at a loss in 2020.
The reason for the loss is mainly due to its continuously increasing investment in R&D.
According to the research projects disclosed in the annual report, Frontier Bio's estimated total investment in the three drugs of Aikening, FB1002, FB2001, and FB3001 reached 1.
903 billion yuan, and a total of 123 million yuan was invested in 2020, with a cumulative investment of 558 million yuan.
The reason for the loss is mainly due to its continuously increasing investment in R&D.
According to the research projects disclosed in the annual report, Frontier Bio's estimated total investment in the three drugs of Aikening, FB1002, FB2001, and FB3001 reached 1.
903 billion yuan, and a total of 123 million yuan was invested in 2020, with a cumulative investment of 558 million yuan.
In 2020, Frontier Bio will achieve an operating income of approximately 46.
62 million yuan, a year-on-year increase of 123.
5%, but the main business relies on only Aikening, which accounts for 100.
0% of the revenue.
As the core product of cutting-edge biology, Aikening is China’s first original innovative drug for the treatment of AIDS and the world’s first long-acting HIV fusion inhibitor.
Due to the scarcity of domestic anti-HIV innovative drugs, it is foreseeable that my country’s medical insurance and self-funded anti-HIV The size of the viral drug market will usher in rapid development, and patients will gradually form a combination of medical insurance + self-finance to purchase anti-HIV drugs.
For the tens of billions of blue ocean market, Aikening can be said to have just started.
62 million yuan, a year-on-year increase of 123.
5%, but the main business relies on only Aikening, which accounts for 100.
0% of the revenue.
As the core product of cutting-edge biology, Aikening is China’s first original innovative drug for the treatment of AIDS and the world’s first long-acting HIV fusion inhibitor.
Due to the scarcity of domestic anti-HIV innovative drugs, it is foreseeable that my country’s medical insurance and self-funded anti-HIV The size of the viral drug market will usher in rapid development, and patients will gradually form a combination of medical insurance + self-finance to purchase anti-HIV drugs.
For the tens of billions of blue ocean market, Aikening can be said to have just started.
However, there are also investors who worry about whether Aikening of Frontier Biotech can obtain new patent protection before its core patent expires in 2023.
After Aikening's patent expires, generic drugs will inevitably appear in the market.
However, my country's generic drug market is already highly competitive.
At that time, Frontier Bio will face the risk of lowering product prices, which will affect sales and cause another loss.
After Aikening's patent expires, generic drugs will inevitably appear in the market.
However, my country's generic drug market is already highly competitive.
At that time, Frontier Bio will face the risk of lowering product prices, which will affect sales and cause another loss.
Comparing the R&D investment of multinational pharmaceutical giants, it can be found that although the overall R&D ratio of innovative pharmaceutical companies is much higher than the former, the absolute value of R&D investment is still difficult to match.
This is the special nature of biotechnology companies at the current stage.
.
Under the new industrial ecology, as a key force for local pharmaceutical innovation, innovative pharmaceutical companies will compete not only in the richness of R&D pipelines, but also in comprehensive competition in different dimensions such as product production, sales and marketing.
This is the special nature of biotechnology companies at the current stage.
.
Under the new industrial ecology, as a key force for local pharmaceutical innovation, innovative pharmaceutical companies will compete not only in the richness of R&D pipelines, but also in comprehensive competition in different dimensions such as product production, sales and marketing.
Pharmaceutical Net, April 12, according to Wind data statistics, as of April 9, a total of more than 1,200 companies in the two A-share cities have disclosed their R&D investment in 2020.
Judging from the ranking of the ratio of R&D investment to operating income, biomedical companies have taken the top six positions.
Judging from the ranking of the ratio of R&D investment to operating income, biomedical companies have taken the top six positions.
In recent years, listed pharmaceutical companies have generally increased their R&D investment.
According to statistics, 115 pharmaceutical companies will invest a total of 28.
865 billion yuan in R&D in 2020, an increase of nearly 20% from the 24.
104 billion yuan in 2019.
From the overall situation, from 2018 to 2020, the ratio of R&D expenditure to operating income in the pharmaceutical and biological industry has shown an upward trend year by year, respectively 3.
22%, 3.
23%, and 3.
65%.
According to statistics, 115 pharmaceutical companies will invest a total of 28.
865 billion yuan in R&D in 2020, an increase of nearly 20% from the 24.
104 billion yuan in 2019.
From the overall situation, from 2018 to 2020, the ratio of R&D expenditure to operating income in the pharmaceutical and biological industry has shown an upward trend year by year, respectively 3.
22%, 3.
23%, and 3.
65%.
However, behind the continuous increase of R&D investment by pharmaceutical companies, whether product R&D investment is directly proportional to product revenue, especially for companies with limited profitability in the short-term, whether rising R&D expenses will cause them to face financial risks such as financing less than expected It is worth thinking about the industry.
Enterprise business enterprise Junshi Bio:
Junshi Bio: Accelerate the expansion of new indications for PD-1
Accelerate the expansion of new indications for PD-1 Although the proportion of research and development is only ranked fourth, the research and development expenses of as high as 1.
778 billion yuan make Junshi Biologics ranked first among the above six pharmaceutical companies.
Compared with the same period of the previous year, Junshi Bio's R&D investment has not decreased at all, and R&D expenses have increased by 87.
93%.
This is due to the continuous enrichment of the product pipeline during the reporting period, continuous exploration of drug combination therapy, and rapid advancement of existing clinical projects Resulted from the development of the development and reserve of R&D projects.
778 billion yuan make Junshi Biologics ranked first among the above six pharmaceutical companies.
Compared with the same period of the previous year, Junshi Bio's R&D investment has not decreased at all, and R&D expenses have increased by 87.
93%.
This is due to the continuous enrichment of the product pipeline during the reporting period, continuous exploration of drug combination therapy, and rapid advancement of existing clinical projects Resulted from the development of the development and reserve of R&D projects.
With the halo that the first domestically produced anti-PD-1 monoclonal antibody drug was approved for marketing, Junshi Bio's teriprizumab has attracted attention from the industry.
During the reporting period, the distribution of indications in the subdivision of teriprizumab has also entered a new stage, and applications for new indications for nasopharyngeal carcinoma and urothelial carcinoma have also been accepted by the NMPA.
In addition, the world's first anti- tumor BTLA monoclonal antibody TAB004/JS004, recombinant humanized anti-IL-17A monoclonal antibody JS005, new coronavirus neutralizing antibody etesevimab, which has entered the field of anti-infection treatment, and many other Junshi Biologics pipeline products, A number of important clinical developments were made during the reporting period.
Tumor tumor tumorDuring the reporting period, the distribution of indications in the subdivision of teriprizumab has also entered a new stage, and applications for new indications for nasopharyngeal carcinoma and urothelial carcinoma have also been accepted by the NMPA.
In addition, the world's first anti- tumor BTLA monoclonal antibody TAB004/JS004, recombinant humanized anti-IL-17A monoclonal antibody JS005, new coronavirus neutralizing antibody etesevimab, which has entered the field of anti-infection treatment, and many other Junshi Biologics pipeline products, A number of important clinical developments were made during the reporting period.
It is worth noting that compared with the same period of the previous year, Junshi Bio's R&D accounted for a decrease of 9.
34%, which is not unrelated to the direct sales growth of triplimumab that directly promoted revenue growth over 1 billion yuan in the whole year.
From the industry's perspective, with the approval of the new indications of Teriplizumab and the increased volume of its inclusion in the medical insurance catalog, Junshi Bio is expected to further increase its revenue in the future, and the proportion of research and development may gradually fall to the normal range.
34%, which is not unrelated to the direct sales growth of triplimumab that directly promoted revenue growth over 1 billion yuan in the whole year.
From the industry's perspective, with the approval of the new indications of Teriplizumab and the increased volume of its inclusion in the medical insurance catalog, Junshi Bio is expected to further increase its revenue in the future, and the proportion of research and development may gradually fall to the normal range.
Sansheng Guojian:
Sansheng Guojian: Plan ahead and lay out key tracks
Plan ahead and lay out key tracks Immediately behind Junshi Bio is Sansheng Guojian, which, alongside Microchip Biosciences, has become the only profitable pharmaceutical company on the list.
Specifically, Sansheng Guojian’s R&D investment in 2020 totaled 376 million yuan, an increase of 28.
48% over the same period last year.
The total R&D investment accounted for 57.
31% of operating income, an increase of 32.
5% compared to the same period last year.
Specifically, Sansheng Guojian’s R&D investment in 2020 totaled 376 million yuan, an increase of 28.
48% over the same period last year.
The total R&D investment accounted for 57.
31% of operating income, an increase of 32.
5% compared to the same period last year.
For Sansheng Guojian, its main product, Yisaipu, is its main source of revenue and profit.
As the first tumor necrosis factor (TNF-α) inhibitor to be listed in the domestic rheumatism field, it fills the entire human resource of domestic companies.
The blank of therapeutic antibody drugs.
Although its share in the TNF-α drug market has reached 45.
5%, Yisaipu is still facing competition in many aspects in the market of innovative drugs and biosimilar drugs.
As of the end of 2020, there are more than 10 TNF-α inhibitor drugs approved for marketing in China, and the competition for products under research is also fierce.
Medicine, medicine, medicineAs the first tumor necrosis factor (TNF-α) inhibitor to be listed in the domestic rheumatism field, it fills the entire human resource of domestic companies.
The blank of therapeutic antibody drugs.
Although its share in the TNF-α drug market has reached 45.
5%, Yisaipu is still facing competition in many aspects in the market of innovative drugs and biosimilar drugs.
As of the end of 2020, there are more than 10 TNF-α inhibitor drugs approved for marketing in China, and the competition for products under research is also fierce.
Although the recombinant anti-CD25 humanized monoclonal antibody Jiannipa and the initumumab ceptin, which was approved last year and entered the medical insurance, have not yet reached the market, Sansheng Guojian, which is prepared for a rainy day, is already laying out relevant key tracks.
It is reported that Sansheng Guojian has 18 antibody drugs under development in different stages of development, covering tumor, autoimmunity and ophthalmology and other diseases .
Most of the drugs under development are category 1 therapeutic biological products, and some of the drugs under development are Sino-US Double News.
Disease disease diseaseIt is reported that Sansheng Guojian has 18 antibody drugs under development in different stages of development, covering tumor, autoimmunity and ophthalmology and other diseases .
Most of the drugs under development are category 1 therapeutic biological products, and some of the drugs under development are Sino-US Double News.
In view of the continuous deepening of the research and development project process and the forward-looking layout of the future antibody drug research and development field, the initial investment in the research and development project has increased.
Sansheng Guojian also stated that the research and development projects will increase with the needs of the research and development stage.
Continue to incur a relatively large amount of research and development expenses.
It can be inferred from this that Sansheng Guojian will still not miss next year's R&D share list.
Sansheng Guojian also stated that the research and development projects will increase with the needs of the research and development stage.
Continue to incur a relatively large amount of research and development expenses.
It can be inferred from this that Sansheng Guojian will still not miss next year's R&D share list.
Biotech:
Biotech: Terminate three new drug projects
Terminate three new drug projects Following closely behind is Biotech.
In 2020, Biotech's R&D expenses were 562 million yuan, a year-on-year increase of -11%.
It is the only company in the top six pharmaceutical companies whose R&D expenses have fallen year-on-year.
However, Biotech stated that it will continue to invest in large-scale research and development expenses in the future, mainly for the completion of pre-clinical research, clinical trials and preparations for new drugs before the launch of research projects and the commercialization of marketed drugs.
In 2020, Biotech's R&D expenses were 562 million yuan, a year-on-year increase of -11%.
It is the only company in the top six pharmaceutical companies whose R&D expenses have fallen year-on-year.
However, Biotech stated that it will continue to invest in large-scale research and development expenses in the future, mainly for the completion of pre-clinical research, clinical trials and preparations for new drugs before the launch of research projects and the commercialization of marketed drugs.
It is worth noting that as of the first quarter of this year, Biotech has announced the termination of the development of three new drug projects, including BAT8003 in phase I clinical trials, BAT1306 in phase II clinical trials, and phase III clinical studies.
The BAT8001 project.
Among them, BAT8003 is a recombinant humanized anti-Trop2 monoclonal antibody-maytansine conjugate for injection, mainly for Trop2-positive advanced epithelial cancer; BAT1306 is a PD-1 monoclonal antibody developed by Biotech.
The drug indication is EBV-related gastric cancer.
The BAT8001 project.
Among them, BAT8003 is a recombinant humanized anti-Trop2 monoclonal antibody-maytansine conjugate for injection, mainly for Trop2-positive advanced epithelial cancer; BAT1306 is a PD-1 monoclonal antibody developed by Biotech.
The drug indication is EBV-related gastric cancer.
According to incomplete statistics, Biotech has invested about 336 million yuan in three projects.
Regarding the reasons for terminating the above-mentioned R&D project, Biotech stated in the announcement that the project has high clinical development and market risks.
In response to the PD-1 monoclonal antibody project that is highly concerned in the industry, Biotech admits that China is the most competitive region for PD-1.
There are 154 PD-1s in the world, of which 85 are developed or jointly developed by Chinese companies, accounting for 55% , The research and development track has become crowded, making development costs further aggravated.
Regarding the reasons for terminating the above-mentioned R&D project, Biotech stated in the announcement that the project has high clinical development and market risks.
In response to the PD-1 monoclonal antibody project that is highly concerned in the industry, Biotech admits that China is the most competitive region for PD-1.
There are 154 PD-1s in the world, of which 85 are developed or jointly developed by Chinese companies, accounting for 55% , The research and development track has become crowded, making development costs further aggravated.
From the perspective of business structure, the current annual operating income of Biotech’s main business adalimumab is 180 million yuan, accounting for 100% of the revenue.
Biotech’s current annual revenue is almost supported by this drug.
.
From the industry's point of view, when only one product is on the market, it is reasonable for Biotech to suspend three drugs this year in consideration of reducing R&D investment and timely stop loss.
Biotech’s current annual revenue is almost supported by this drug.
.
From the industry's point of view, when only one product is on the market, it is reasonable for Biotech to suspend three drugs this year in consideration of reducing R&D investment and timely stop loss.
Frontier biology:
Frontier biology: Facing the patent crisis of the main varieties
Facing the patent crisis of the main varieties Frontier biology, which ranks third in R&D investment, is still at a loss in 2020.
The reason for the loss is mainly due to its continuously increasing investment in R&D.
According to the research projects disclosed in the annual report, Frontier Bio's estimated total investment in the three drugs of Aikening, FB1002, FB2001, and FB3001 reached 1.
903 billion yuan, and a total of 123 million yuan was invested in 2020, with a cumulative investment of 558 million yuan.
The reason for the loss is mainly due to its continuously increasing investment in R&D.
According to the research projects disclosed in the annual report, Frontier Bio's estimated total investment in the three drugs of Aikening, FB1002, FB2001, and FB3001 reached 1.
903 billion yuan, and a total of 123 million yuan was invested in 2020, with a cumulative investment of 558 million yuan.
In 2020, Frontier Bio will achieve an operating income of approximately 46.
62 million yuan, a year-on-year increase of 123.
5%, but the main business relies on only Aikening, which accounts for 100.
0% of the revenue.
As the core product of cutting-edge biology, Aikening is China’s first original innovative drug for the treatment of AIDS and the world’s first long-acting HIV fusion inhibitor.
Due to the scarcity of domestic anti-HIV innovative drugs, it is foreseeable that my country’s medical insurance and self-funded anti-HIV The size of the viral drug market will usher in rapid development, and patients will gradually form a combination of medical insurance + self-finance to purchase anti-HIV drugs.
For the tens of billions of blue ocean market, Aikening can be said to have just started.
62 million yuan, a year-on-year increase of 123.
5%, but the main business relies on only Aikening, which accounts for 100.
0% of the revenue.
As the core product of cutting-edge biology, Aikening is China’s first original innovative drug for the treatment of AIDS and the world’s first long-acting HIV fusion inhibitor.
Due to the scarcity of domestic anti-HIV innovative drugs, it is foreseeable that my country’s medical insurance and self-funded anti-HIV The size of the viral drug market will usher in rapid development, and patients will gradually form a combination of medical insurance + self-finance to purchase anti-HIV drugs.
For the tens of billions of blue ocean market, Aikening can be said to have just started.
However, there are also investors who worry about whether Aikening of Frontier Biotech can obtain new patent protection before its core patent expires in 2023.
After Aikening's patent expires, generic drugs will inevitably appear in the market.
However, my country's generic drug market is already highly competitive.
At that time, Frontier Bio will face the risk of lowering product prices, which will affect sales and cause another loss.
After Aikening's patent expires, generic drugs will inevitably appear in the market.
However, my country's generic drug market is already highly competitive.
At that time, Frontier Bio will face the risk of lowering product prices, which will affect sales and cause another loss.
Comparing the R&D investment of multinational pharmaceutical giants, it can be found that although the overall R&D ratio of innovative pharmaceutical companies is much higher than the former, the absolute value of R&D investment is still difficult to match.
This is the special nature of biotechnology companies at the current stage.
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Under the new industrial ecology, as a key force for local pharmaceutical innovation, innovative pharmaceutical companies will compete not only in the richness of R&D pipelines, but also in comprehensive competition in different dimensions such as product production, sales and marketing.
Medicine Medicine Medicine This is the special nature of biotechnology companies at the current stage.
.
Under the new industrial ecology, as a key force for local pharmaceutical innovation, innovative pharmaceutical companies will compete not only in the richness of R&D pipelines, but also in comprehensive competition in different dimensions such as product production, sales and marketing.
