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[Pharmaceutical Network Market Analysis] In the blink of an eye, 2022 is about to enter the second quarter.
Regarding the strategy for the second quarter of 2022, some analysts said that after sector adjustment, some sectors have entered a reasonable valuation range, and it is expected that the overall biopharmaceutical sector will be relatively stable in 2022
.
Among them, the CXO industry is expected to maintain a high level of growth in 2022
.
Analysts said that global biopharmaceutical R&D investment is expected to continue to grow steadily, and the trend of pharmaceutical R&D outsourcing is also expected to continue
.
If the major companies in the industry have a compound annual growth rate of 30% from 2023 to 2025, the PEG is expected to be around 1.
5 in 2022, which has entered a reasonable valuation range
.
Although some sectors are expected to remain prosperous, investments still need to be carefully selected
.
For example, companies with technology and core competitiveness are expected to undertake more orders or more complex business in the chemical small molecule business, but companies with lower competitiveness in the industry may face the problem of lower overall growth rate
.
For the CXO industry, the industry recommends Zhaoyan New Drug, Asymchem, and Proton.
Among them, Zhaoyan New Drug has achieved remarkable performance in recent years.
Whether it is revenue, net profit or their respective year-on-year growth rates, the growth momentum is strong.
.
As the data shows, in 2021, Zhaoyan New Drug's operating income will increase by about 41% year-on-year to 1.
517 billion yuan; the net profit attributable to shareholders of listed companies will increase by about 77% year-on-year to 557 million yuan
.
The reason is that the preclinical drug safety assessment (DSA) market that Zhaoyan New Drug is engaged in is a market with high threshold and high barriers
.
From the perspective of orders, Zhaoyan New Drug will sign new orders exceeding 2.
8 billion yuan in 2021, and the number of orders in hand will exceed 2.
9 billion yuan at the end of the year.
will continue to grow rapidly
.
The agency predicts that according to the performance of Zhaoyan New Drug, the company's net profit in 2022-2023 is expected to be 730 million, 920 million, and 2022-2023 EPS will be 1.
917 and 2.
415 respectively
.
Let's take a look at Asymchem.
It is reported that Asymchem has built its own CDMO platform for chemical synthesis of macromolecules, bioengineering, preparations and biological macromolecules, and acquired Crown Qin Medicine and Yipu Kenuo integrate pre-clinical and clinical CRO business to provide customers with integrated outsourcing services of the whole process
.
With the continuous development of new business areas, it is expected to continue to contribute new increments to the company
.
With the advantages of continuous flow chemistry, enzyme catalysis and other technologies, Asymchem has undertaken a large number of preclinical to commercial small molecule CDMO projects, including 17 late-stage clinical and commercial projects, which are expected to be blockbuster varieties exceeding US$1 billion.
This large order renewal further highlights the strong business demand
.
According to agency forecasts, from 2021 to 2023, Asymchem's revenue is 4.
583 billion yuan, 8.
781 billion yuan, and 10.
601 billion yuan, a year-on-year increase of 45.
52%, 91.
59%, and 20.
72%.
, 20.
00%
.
The CDMO business capability of Proton Co.
, Ltd.
has been fully verified, and its performance has been outstanding in recent years.
The industry said that its epitaxial endogenous biological and preparation CDMO business prospects are promising
.
It is understood that in 2021, under the background of the industry with the steady growth of the global pharmaceutical R&D pipeline and the increasing trend of pharmaceutical R&D and production outsourcing, Proton will continue to expand and enrich its product pipeline, and continue to improve its technical capabilities, product delivery capabilities and ability to obtain orders; The company's capacity utilization rate and operational efficiency have been further improved, the product structure has been further optimized, and the company's profitability has been continuously improved
.
At present, the production capacity of the company's API CDMO business is steadily advancing
.
According to the company's announcement, Proton currently has 3 small molecule API CDMO production bases in China, with a total production capacity of about 2,000 cubic meters, and two production bases are being expanded
.
According to institutional forecasts, the net profit of Proton shares in 2021-2023 will be 524, 874, and 1.
067 billion yuan, and the corresponding EPS will be 0.
97, 1.
61, and 1.
97 yuan
.
Disclaimer: Under no circumstances does the information or opinions expressed in this article constitute investment advice to anyone
.
Regarding the strategy for the second quarter of 2022, some analysts said that after sector adjustment, some sectors have entered a reasonable valuation range, and it is expected that the overall biopharmaceutical sector will be relatively stable in 2022
.
Among them, the CXO industry is expected to maintain a high level of growth in 2022
.
Analysts said that global biopharmaceutical R&D investment is expected to continue to grow steadily, and the trend of pharmaceutical R&D outsourcing is also expected to continue
.
If the major companies in the industry have a compound annual growth rate of 30% from 2023 to 2025, the PEG is expected to be around 1.
5 in 2022, which has entered a reasonable valuation range
.
Although some sectors are expected to remain prosperous, investments still need to be carefully selected
.
For example, companies with technology and core competitiveness are expected to undertake more orders or more complex business in the chemical small molecule business, but companies with lower competitiveness in the industry may face the problem of lower overall growth rate
.
For the CXO industry, the industry recommends Zhaoyan New Drug, Asymchem, and Proton.
Among them, Zhaoyan New Drug has achieved remarkable performance in recent years.
Whether it is revenue, net profit or their respective year-on-year growth rates, the growth momentum is strong.
.
As the data shows, in 2021, Zhaoyan New Drug's operating income will increase by about 41% year-on-year to 1.
517 billion yuan; the net profit attributable to shareholders of listed companies will increase by about 77% year-on-year to 557 million yuan
.
The reason is that the preclinical drug safety assessment (DSA) market that Zhaoyan New Drug is engaged in is a market with high threshold and high barriers
.
From the perspective of orders, Zhaoyan New Drug will sign new orders exceeding 2.
8 billion yuan in 2021, and the number of orders in hand will exceed 2.
9 billion yuan at the end of the year.
will continue to grow rapidly
.
The agency predicts that according to the performance of Zhaoyan New Drug, the company's net profit in 2022-2023 is expected to be 730 million, 920 million, and 2022-2023 EPS will be 1.
917 and 2.
415 respectively
.
Let's take a look at Asymchem.
It is reported that Asymchem has built its own CDMO platform for chemical synthesis of macromolecules, bioengineering, preparations and biological macromolecules, and acquired Crown Qin Medicine and Yipu Kenuo integrate pre-clinical and clinical CRO business to provide customers with integrated outsourcing services of the whole process
.
With the continuous development of new business areas, it is expected to continue to contribute new increments to the company
.
With the advantages of continuous flow chemistry, enzyme catalysis and other technologies, Asymchem has undertaken a large number of preclinical to commercial small molecule CDMO projects, including 17 late-stage clinical and commercial projects, which are expected to be blockbuster varieties exceeding US$1 billion.
This large order renewal further highlights the strong business demand
.
According to agency forecasts, from 2021 to 2023, Asymchem's revenue is 4.
583 billion yuan, 8.
781 billion yuan, and 10.
601 billion yuan, a year-on-year increase of 45.
52%, 91.
59%, and 20.
72%.
, 20.
00%
.
The CDMO business capability of Proton Co.
, Ltd.
has been fully verified, and its performance has been outstanding in recent years.
The industry said that its epitaxial endogenous biological and preparation CDMO business prospects are promising
.
It is understood that in 2021, under the background of the industry with the steady growth of the global pharmaceutical R&D pipeline and the increasing trend of pharmaceutical R&D and production outsourcing, Proton will continue to expand and enrich its product pipeline, and continue to improve its technical capabilities, product delivery capabilities and ability to obtain orders; The company's capacity utilization rate and operational efficiency have been further improved, the product structure has been further optimized, and the company's profitability has been continuously improved
.
At present, the production capacity of the company's API CDMO business is steadily advancing
.
According to the company's announcement, Proton currently has 3 small molecule API CDMO production bases in China, with a total production capacity of about 2,000 cubic meters, and two production bases are being expanded
.
According to institutional forecasts, the net profit of Proton shares in 2021-2023 will be 524, 874, and 1.
067 billion yuan, and the corresponding EPS will be 0.
97, 1.
61, and 1.
97 yuan
.
Disclaimer: Under no circumstances does the information or opinions expressed in this article constitute investment advice to anyone
.
