Since the second half of this year, many pharmaceutical companies have gone bankrupt

 In recent years, as the country's policy support for the pharmaceutical industry has continued to increase, the pharmaceutical field has a broad market prospect, but at the same time, competition in the pharmaceutical market has become increasingly fierce
.
It is understood that with the increasing competition in the market, since the second half of this year, many pharmaceutical companies have filed for bankruptcy, dissolved and liquidated
.
As November 24, Paez Shuanglin Biological Pharmaceutical Co.
, Ltd.
released a CD on Hunan Kang Pharmaceutical Co.
, Ltd.
of bankruptcy proceedings announcement
.
The content of the announcement pointed out: Paisi Shuanglin Biopharmaceutical Co.
, Ltd.
held the fifth meeting of the eighth board of directors on March 25, 2019.
The Motion
.
Paisi Shuanglin Biopharmaceutical believed that Hunan Weikang Pharmaceutical Co.
, Ltd.
was insolvent and continued to operate would increase the burden on the company's operations, so it filed for bankruptcy in a people's court with jurisdiction
.
The Intermediate People's Court of Hengyang City, Hunan Province accepted the bankruptcy application on April 12, 2019, and finally ruled to terminate the bankruptcy proceedings of Hunan Weikang recently
.
For another example, recently, China Judgment Documents Network also announced a document concerning the application of Shaanxi Pharmaceutical Holdings Seoul Pharmaceutical Co.
, Ltd.
for company liquidation and bankruptcy to review compulsory liquidation and bankruptcy rulings
.
Because Shaanxi Pharmaceutical Holdings Seoul Pharmaceutical Co.
, Ltd.
ceased to operate and was unable to pay off its due debts, the court accepted the application for bankruptcy and liquidation in accordance with the law
.
It is reported that as of August 31, 2021, the applicant Shaanxi Pharmaceutical Holdings Seoul Pharmaceutical Co.
, Ltd.
has total assets of 1,176,318.
31 yuan, total liabilities of 9,741,500.
1 yuan, and total owners' equity of -8,565,181.
79 yuan
.
Obviously, it has been unable to pay off the due debts and lacked the ability to pay off
.
For this reason, Shaanxi Pharmaceutical Holding Group Xi’an Pharmaceutical Co.
, Ltd.
applied to the court for bankruptcy liquidation of Shaanxi Pharmaceutical Holding Seoul Pharmaceutical Co.
, Ltd.
on the grounds that there was no reorganization, settlement, etc.
, and the conditions for bankruptcy were met
.
During the same period, Shenzhen Fangu Pharmaceutical Co.
, Ltd.
applied to the court for bankruptcy liquidation of Nanjing Aris Pharmaceutical Technology Co.
, Ltd.
on the grounds that it was unable to pay off its due debts and its assets were insufficient to pay off all debts.

.
In addition, on September 28, Yunnan Biopharmaceutical Co.
, Ltd.
, a subsidiary of Hisun Pharmaceutical, submitted an application for bankruptcy and reorganization to the People's Court
.
On August 31, the China Judgment Document Network announced that Jiangsu Traditional Chinese Medicine Co.
, Ltd.
was unable to pay off its debts to China Huarong Asset Management Co.
, Ltd.
, and applied to the court for bankruptcy on July 1, 2021.
Liquidation
.
On August 14, Baike Biopharmaceuticals issued an announcement stating that the company recently received a notice from Changchun High-tech, the controlling shareholder of Changchun Baiyi Pharmaceutical, a joint-stock company, that Baiyi Pharmaceutical has terminated its research and development project exenatide (exenatide) in order to protect the interests of shareholders.
Baiyi Pharmaceutical was dissolved and liquidated
.
On July 2nd, China Judgment Document Network disclosed that the manager of Tianjin Nanda Jiade Pharmaceutical Co.
, Ltd.
filed an application with the court, stating that Tianjin Nanda Jiade Pharmaceutical Co.
, Ltd.
’s bankruptcy property distribution plan had been implemented, and requested the court to terminate Tianjin Nanda Jiade Pharmaceutical Co.
, Ltd.
Company bankruptcy proceedings
.
After the trial, the court ended the bankruptcy proceedings of the enterprise and officially declared bankruptcy
.
The main reasons for pharmaceutical companies to declare bankruptcy are market positioning problems, funding problems, and external factors.
The industry said that with the rapid development of the pharmaceutical industry, corporate bankruptcy and deregistration are also expected
.
Because, in the face of fierce market competition in the future, pharmaceutical companies need to actively make changes in accordance with the changes in the pharmaceutical market, otherwise they may face the risk of elimination
.