Benefiting from the reform of drug administration, the innovation ability of China's pharmaceutical enterprises is continuing to increase, and the innovation achievements are constantly landing, which has also made the investment and financing in the field of innovative drugs begin to heat up
rapidly.
However, since last year, the domestic innovative drug sector has cooled down significantly
under the superimposed influence of multiple uncertainties.
According to statistics, in the first half of the year, the number of investment and financing events of pharmaceutical enterprises in the primary market decreased by 46.
7% year-on-year and 45.
9% month-on-month; The number of IPO events decreased by 45.
5% year-on-year and 55.
2% month-on-month.
The number of refinancing events in the secondary market decreased by 57.
8% year-on-year and 29.
6%
month-on-month.
The involution of domestic innovative drugs will accelerate the forced pharmaceutical companies to real innovation (Image source: Pharma.
com)
In this regard, industry insiders believe that this is the result of the serious homogenization of
domestic innovative drug research and development and the tendency of competition to be involutional.
Pharmaceutical companies roll in, the market has been greatly damaged, pricing power is lost, the ceiling is lowered, and the valuation of the capital market will naturally decrease
.
In fact, from the perspective of its own attributes, the innovative drug industry is a risky industry, and the layout logic of the innovative drug market has not changed
.
At present, especially with the continuous popularity of innovative drugs, more and more enterprises have entered the track of the innovative drug industry, and the problem of intensified industry competition has become inevitable, and the industry chaos of target piling, crowded track, and serious involution has emerged
.
Taking PD-1 as an example, Innovent reduced the annual treatment cost of "Daboshu" to less than 100,000 yuan in 2019, and after taking the lead in medical insurance negotiations, the PD-1 drugs of Hengrui Pharmaceutical, BeiGene, and Junshi Biologics also entered the medical insurance catalogue through negotiations, and the annual treatment cost has been reduced to 50,000 yuan
.
After experiencing a wave of rapid development, it is crucial
to step out of the road of differentiation in the face of the current dilemma in the innovative drug market.
The industry has proposed that it is necessary to solve the problem of "involution" of
pharmaceutical companies' innovation through multifaceted efforts.
Among them, for enterprises, it is necessary to boldly try new innovation models, apply new technologies, improve R&D efficiency, and reduce R&D expenses; For policies, it is necessary to establish a win-win innovative payment system to continue to cultivate pharmaceutical innovation groups with long-term innovation momentum; For capital, we must be brave to support the revolution
of R&D disruptive technologies.
Of course, in addition to forming differentiation in the research and development of innovative drugs, pharmaceutical companies also need to innovate
in terms of commercialization.
It is reported that domestic pharmaceutical companies have been facing great pressure
in the commercialization of innovative drugs.
The pressure on commercialization is specifically reflected in: First, the coverage capacity of primary medical institutions is insufficient, and it is difficult for innovative drugs to access at the grassroots level for many reasons; Second, the tightening of medical insurance fund fees and the long-term difficulty in entering hospitals have hindered the main market access channels for innovative drugs; Third, based on the consideration of commercial survival and development, enterprises have concentrated the selection of drug research and development targets, serious product homogenization, and intensified
commercial competition.
At present, in order to grasp policy opportunities and user needs, in fact, many pharmaceutical companies have begun to use digitalization to break the situation
for pharmaceutical innovation marketing.
It is understood that some time ago, Shanghai Qingyun Pharmaceutical Technology Co.
, Ltd.
announced that it had completed a new round of financing
of tens of millions of dollars.
It is understood that this round of funding will further accelerate the application upgrade and functional innovation of Qingyun Technology's self-developed AI digital marketing platform, and improve the layout
of the omni-channel marketing network in the grassroots market with the county as the core.
In general, as domestic innovation continues to roll in, it will be able to force the industry to accelerate towards real innovation
.
Instead of catering to the preferences of some investors for financing and investing in hot targets, companies will focus their R&D pipelines on unproven, truly innovative First-inClass
.
In the future, in the process of promoting clinical research, highlights of more innovative products will automatically emerge, and the market space will continue to expand, bringing more new performance growth points
to enterprises.
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