The 6.6 billion unsold pharmaceutical company now has a market value of over 20 billion yuan. What happened?

Relying on a product, a le, Jialin, with the "wolf" team led by Liu Wei, has been cutting through all the difficulties, with the market growth rate of more than 50% for 10 consecutive years Next, Liu Wei's task is to plan a bigger future for Jialin: to enrich the product line, and to achieve more than 10 billion yuan In 2015, two major events occurred in Beijing Jialin Pharmaceutical Co., Ltd (hereinafter referred to as "Jialin"), which changed its subsequent development trajectory These two things are cause and effect each other The first thing is that on June 1, green leaf Pharmaceutical Group Co., Ltd announced the termination of its planned acquisition of Beijing Jialin Pharmaceutical Co., Ltd., which means that green leaf pharmaceutical previously announced that it had aborted its planned acquisition of Jialin with 6.6 billion yuan of cash Second, Jialin's proposed backdoor Tianshan textile company announced the suspension of trading, and Jialin pharmaceutical company opened the road of independent listing After that, with the joint efforts of president Liu Wei and major shareholders, Jialin pharmaceutical completed the listing, and changed its name to Dezhan health A listed company based on Jialin pharmaceutical industry appears in the pharmaceutical industry Once upon a time, after the announcement of Greenleaf pharmaceutical's proposed acquisition of carling on the Hong Kong Stock Exchange in 2014, the industry has paid great attention to this cooperation, which is a "good marriage" At that time, the market scale of carling's heavyweight single aller was more than 2 billion yuan, and its strong sales ability could bring the possibility of rapid volume for the cardiovascular and cerebrovascular product line in the green leaf system; secondly, green leaf could also add luster to its listing performance through the consolidated statements; finally, Merrill Lynch, the holding Party of carling, obtained a very high premium exit through the 6.6 billion yuan merger However, the rapid changes of shopping malls are vividly reflected in this M & A It took only four days for Jialin to learn that the acquisition failed and to open the backdoor listing Behind the intensive decision is the prediction of the result of the merger In the interview, Liu Wei told e pharmaceutical manager that in fact, after his first contact with green leaves, he had a vague feeling that the cooperation might not be so smooth, because of the huge differences in culture and style between the two companies "Both are good companies, but two good companies don't necessarily achieve each other." Liu Wei recalled that when he realized that green leaf might stop the new production base that Jialin was building for Arle, he had a vague sense that there would be uncertainty in this cooperation Although the acquisition did not take place, which resulted in the absence of a large amount of M & A cases in China's pharmaceutical industry, it planned different development paths for the management of Jialin and Jialin pharmaceutical industry led by Liu Wei As of March 2017, tezhan's healthy P / E ratio is 31 times, with a market value of more than 20 billion yuan As the main business body of the listed company, Carlin pharmaceutical actually shows the recognition of the investment community for Carlin pharmaceutical 1 Seeking change in stability Liu Wei has a clear understanding of the listing of Jialin If he wants to wear the crown, he must bear the weight Landing in the capital market provides a broader platform for the development of Jialin pharmaceutical industry At the same time, as a public company, large and small shareholders will also put forward higher and clearer requirements for its subsequent performance growth In fact, when Jialin was listed on the back door, it had made a clear commitment to the profit expectation for the next three years In 2016, 2017 and 2018, the non net profit of Carlin pharmaceutical should be no less than 650 million yuan, 780 million yuan and 940 million yuan respectively Liu Wei believes that it is not too difficult to achieve these expected profits depending on the future potential of Arle in the market at present Now, Liu Wei needs to plan a fuller future for Carlin after three years, and include more products for listed companies on the premise that Arle maintains the current growth rate This is also the focus of Liu Wei's current work On the one hand, the main direction of cardio cerebrovascular business remains unchanged and new products continue to be developed At present, Jialin's product line has been extended from regulating blood lipid to solving various related diseases such as lowering blood pressure and arrhythmia In terms of product structure, it includes both long-term products under research and short-term products under application On the other hand, it is to develop compound varieties Hou Xiaoqing, quality and technical director of Carlin pharmaceutical, told e pharmaceutical manager that at present, the compound product composed of atorvastatin calcium and amlodipine is being declared In addition, Jialin focuses on traditional Chinese medicine Compared with the current centralized procurement, consistency evaluation, two vote system and many other policy restrictions faced by chemical drugs, traditional Chinese medicine, as a national industry, has been repeatedly mentioned and supported in policy in recent years Whether the introduction of traditional Chinese medicine law or the large increase of traditional Chinese medicine products in the new version of the medical insurance catalog, Jialin has seen the dawn of development in the field of traditional Chinese medicine We are paying attention to the traditional Chinese medicine products of cardio cerebrovascular, investigating and looking for the varieties suitable for the development of Jialin " As for the criteria of M & A, we should not only carry forward the national industry, closely follow the national policy trend, but also combine the experience of Carlin in the cardio cerebrovascular market " Liu Wei told e pharmaceutical managers that the next M & A in the field of traditional Chinese medicine is still focused on the cardio cerebrovascular area, where Jialin's advantages lie Liu Wei revealed that at present, M & A has a goal But at the same time, the background of the general limitation of traditional Chinese medicine injections also alerted Jialin Not all the traditional Chinese medicine products with market space have been sold to Jialin Several traditional Chinese medicine injection manufacturers have also found Jialin, hoping to sell the products to Jialin Even some products are the varieties that Liu Wei tried to purchase several years ago From the perspective of market value, there is still a large amount of market space for several products in the short term If they are acquired and merged into the report of listed companies, the data will also be very good-looking However, Liu Wei refused without hesitation, "there is profit, there is no development" Although the main line of Carlin's cardio cerebrovascular business has not changed, Liu Wei believes that if we stay on this line, there will be no doubt that the development will be very slow The anti-tumor field is a business sector with huge market space Next, Carlin will also launch an impact on this field On the one hand, it is to rapidly expand the product line of anti-tumor field through acquisition Liu Wei revealed that at present, he has been optimistic about an enterprise that makes anti-tumor drugs, and its products have also entered the medical insurance of several provinces On the other hand, cooperative R & D is carried out with the help of external forces On January 13, 2017, a new drug development project was officially signed by Jialin and Tsinghua University The main content is to develop original anti-cancer drugs for non-small cell lung cancer based on the new small molecule inhibitors developed by Tsinghua University "Now the path of the combination of imitation and creation is very clear." Hou Xiaoqing, quality and technical director of Jialin pharmaceutical, told e pharmaceutical managers that, although the enterprises have developed to the present level in the past with imitation as the main focus, the future must be two legs of imitation and innovation In fact, the cooperation between Carlin and Tsinghua University started as early as the year before last, including gene diagnosis technology, precision therapy, etc., which are also the focus of Carlin's future attention In addition to enriching product lines, Liu Wei also hopes to expand business areas on the platform of Dezhan health, a listed company, such as big health, pension real estate, etc In fact, this is one of the reasons why the listed company changed its name to Dezhan health Supported by cardiovascular products, Dezhan health will hope to expand its business in both horizontal and vertical directions " Zhang Jinghong, financial director of Jialin pharmaceutical, said Zhang Jinghong was appointed by Merrill Lynch group, the holding Party of Jialin pharmaceutical, to assist in the listing of Jialin 2 Alob's sales volume has increased by 50% for ten consecutive years In Liu Wei's opinion, it doesn't need to show off too much Next, he set a more ambitious new goal for alob: the market scale will reach 10 billion yuan by 2020 What is the path to this number? "I didn't decide all the goals." In order to give this number to e-drug managers exactly, Liu Wei delayed the interview until the first quarter of 2017, and then prepared a series of data "According to the data released by the media in 2016, the total number of hospitals in China is more than 28000, including more than 2100 tertiary hospitals, while the total number of hospitals covered by Carlin's promotion of Arle is 7000, with nearly 400 tertiary hospitals." The meaning of digital comparison is self-evident: there are so many hospitals that have not yet been covered by Carlin, why can't the sales growth meet the requirements? Ma Ming is also using the data to further illustrate the market potential of Arle At present, there are about 7000 hospitals covered by carling In fact, because of the brand effect of Arle, a large number of hospitals will purchase Arle of carling on their own According to Ma Ming, there is no problem in 10000 hospitals " With more than 20 years of medical experience, Liu Wei is extremely sensitive to the change of sales trend From the digital change, he can find the problems and opportunities in the market In the market, only 45% - 50% of the basic volume is achieved, and there is still about 50% of the market space This is Carlin's work plan, not the vision and goal " Liu Wei believes that as long as the next platoon is properly deployed, it is not difficult to achieve 10 billion yuan It is concluded that the bold figure is supported by the growing maturity of China's lipid lowering market The aging of the population and the improvement of the health demand of the Chinese people, especially the gradual deepening of the concept of reducing blood lipid in the medical sector, is a big environment In addition, Ma Ming, vice president of Carlin pharmaceutical industry, analyzes that when atorvastatin calcium tablets are promoted from secondary prevention to primary prevention, the whole market will have a huge incremental space In terms of product life cycle, aloe is still in the rising period and will last for at least five to eight years At that time, he hopes that Aloe's sales volume will reach a new high Of course, the continuous volume of Arle's products is more important than the efforts of the entire team of Jialin, especially the sustained and strong fighting power inspired by the whole team since Liu Wei joined Jialin On August 29, 2006, Liu Wei, as a professional manager, officially took the post of general manager of Jialin pharmaceutical industry He still can clearly remember the situation when he first arrived at Jialin: there was a muddy road in front of the plant, mud pits in the first rain, and a garbage dump in the back " Due to the remote location, the new general manager had to rely on car navigation to get to Jialin Generally speaking, the first meeting with Jialin didn't leave Liu Wei much brilliance At that time, Jialin pharmaceutical industry just changed its name from its predecessor "Beijing Honghui pharmaceutical" The frequent adjustment of the management made the entire Jialin in a kind of shock However, the market performance was not very ideal, which worried the managers of the enterprise: under the circumstance that the global sales volume of its competitor, huirui Putuo, had already exceeded 10 billion US dollars, Jialin held "the first imitation in China" and "eight imitations in China" "Market protection" two good cards, but only completed less than 50 million yuan of sales performance, handed in a far from ideal answer sheet At that time, the downturn that Jialin fell into in the market just became an important factor that prompted Liu Wei to finally decide to join Jialin Liu Wei is from Shanxi Province He is good at reverse thinking and seems to be born with a business mind In its view, turning the enterprise into profit is totally different from adding to the cake when the situation is broken In contrast, the meaning of the former is too important, and the space for its own performance is also greater "From the perspective of the market environment at that time, Jia