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In recent years, China's pharmaceutical CRO field has developed rapidly.
According to data, from 2022 to 2026, the market size of China's clinical research outsourcing service services may increase from 135 billion yuan to 269 billion yuan, with a compound annual growth rate of nearly 15%.
, will be higher than the growth rate of other countries and regions in the world
.
Benefiting from the strong growth of the CRO sector, some companies have achieved rapid growth in performance
.
Taking Asymchem as an example, in 2021, Asymchem's small molecule business has achieved strong growth, which has also led to rapid growth in the company's operating performance
.
The company expects that in 2021, the net profit attributable to shareholders of listed companies (referred to as net profit) will increase by more than 40% year-on-year, exceeding 1 billion yuan
.
It is reported that in recent years, Asymchem's operating performance has continued to grow steadily, and its net profit has continued to grow since 2013
.
Among them, from 2016 to 2020, the company's operating income increased from 1.
103 billion yuan to 3.
150 billion yuan; net profit increased from 253 million yuan to 722 million yuan, with an average annual compound growth rate of about 30%
.
Boji Pharmaceutical benefited from the strong pull of the high growth of the CRO sector, and the index gradually rose
.
The data shows that in 2021, Boji Pharmaceutical is expected to achieve a year-on-year increase of 117.
79%-182.
54% in net profit, or about 37 million to 48 million yuan; in the same period, the net profit after non-deduction is expected to increase by 133.
37% to 244.
99% year-on-year, to 23 million to 34 million yuan.
.
Analysts said that under the background of the control of medical insurance costs and the normalization of volume purchases, China's innovative drug industry is developing rapidly, and the clinical market scale is rapidly increasing.
It is expected that the compound growth rate will be 27.
49% in the next three years.
Liver disease and other fields have advantages in clinical resources, benefiting from the growth of the industry, giving the company a strong growth attribute
.
According to the 2021 annual performance bulletin released by Zhaoyan New Drug recently, Zhaoyan New Drug achieved a year-on-year increase of 40.
99% in total operating income in 2021 to 1.
517 billion yuan; the net profit attributable to shareholders of listed companies increased by 76.
83% year-on-year to 557 million yuan Yuan
.
It is reported that in terms 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.
Performance will continue to grow rapidly
.
Regarding the performance growth of Zhaoyan New Drug, analysts pointed out that the preclinical drug safety assessment (DSA) market that Zhaoyan New Drug is engaged in is a market with high threshold and high barriers
.
In addition, Zhaoyan New Drug has passed the US FDA GLP inspection and has the advantages of being a CRO enterprise with two GLP laboratories
.
As the "Yao Mao" at the head of the industry, WuXi PharmaTech also recently released a performance report.
According to the announcement, in 2021, WuXi PharmaTech's operating income will increase by 38.
5% year-on-year to 22.
9 billion yuan; net profit attributable to the parent will increase by more than 70% year-on-year.
, for 5.
1 billion yuan
.
At the same time, its share price also ushered in a new wave of gains
.
Analysts said that the current price-earnings ratios of many CXO industry companies are generally high, reflecting the market's strong expectations for the CXO track
.
From the perspective of policy trends, the future of the domestic pharmaceutical industry lies in the research and development of innovative drugs
.
The traditional generic model will be phased out gradually, and the R&D capability of innovative drugs will determine who can survive better.
Therefore, in the future, the R&D investment in the pharmaceutical industry will continue to increase, and the requirements for R&D efficiency will continue to increase.
Duozhen innovative enterprises need the help of CXO to accelerate the pursuit of overseas pharmaceutical leaders, which will also promote the further development of the pharmaceutical CXO industry
.
In addition, some people said that the CXO industry has undergone in-depth adjustments recently, and its valuation is at the bottom of history.
It is recommended to pay attention to companies with sufficient orders and reasonable current valuations against the trend
.
According to data, from 2022 to 2026, the market size of China's clinical research outsourcing service services may increase from 135 billion yuan to 269 billion yuan, with a compound annual growth rate of nearly 15%.
, will be higher than the growth rate of other countries and regions in the world
.
Benefiting from the strong growth of the CRO sector, some companies have achieved rapid growth in performance
.
Taking Asymchem as an example, in 2021, Asymchem's small molecule business has achieved strong growth, which has also led to rapid growth in the company's operating performance
.
The company expects that in 2021, the net profit attributable to shareholders of listed companies (referred to as net profit) will increase by more than 40% year-on-year, exceeding 1 billion yuan
.
It is reported that in recent years, Asymchem's operating performance has continued to grow steadily, and its net profit has continued to grow since 2013
.
Among them, from 2016 to 2020, the company's operating income increased from 1.
103 billion yuan to 3.
150 billion yuan; net profit increased from 253 million yuan to 722 million yuan, with an average annual compound growth rate of about 30%
.
Boji Pharmaceutical benefited from the strong pull of the high growth of the CRO sector, and the index gradually rose
.
The data shows that in 2021, Boji Pharmaceutical is expected to achieve a year-on-year increase of 117.
79%-182.
54% in net profit, or about 37 million to 48 million yuan; in the same period, the net profit after non-deduction is expected to increase by 133.
37% to 244.
99% year-on-year, to 23 million to 34 million yuan.
.
Analysts said that under the background of the control of medical insurance costs and the normalization of volume purchases, China's innovative drug industry is developing rapidly, and the clinical market scale is rapidly increasing.
It is expected that the compound growth rate will be 27.
49% in the next three years.
Liver disease and other fields have advantages in clinical resources, benefiting from the growth of the industry, giving the company a strong growth attribute
.
According to the 2021 annual performance bulletin released by Zhaoyan New Drug recently, Zhaoyan New Drug achieved a year-on-year increase of 40.
99% in total operating income in 2021 to 1.
517 billion yuan; the net profit attributable to shareholders of listed companies increased by 76.
83% year-on-year to 557 million yuan Yuan
.
It is reported that in terms 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.
Performance will continue to grow rapidly
.
Regarding the performance growth of Zhaoyan New Drug, analysts pointed out that the preclinical drug safety assessment (DSA) market that Zhaoyan New Drug is engaged in is a market with high threshold and high barriers
.
In addition, Zhaoyan New Drug has passed the US FDA GLP inspection and has the advantages of being a CRO enterprise with two GLP laboratories
.
As the "Yao Mao" at the head of the industry, WuXi PharmaTech also recently released a performance report.
According to the announcement, in 2021, WuXi PharmaTech's operating income will increase by 38.
5% year-on-year to 22.
9 billion yuan; net profit attributable to the parent will increase by more than 70% year-on-year.
, for 5.
1 billion yuan
.
At the same time, its share price also ushered in a new wave of gains
.
Analysts said that the current price-earnings ratios of many CXO industry companies are generally high, reflecting the market's strong expectations for the CXO track
.
From the perspective of policy trends, the future of the domestic pharmaceutical industry lies in the research and development of innovative drugs
.
The traditional generic model will be phased out gradually, and the R&D capability of innovative drugs will determine who can survive better.
Therefore, in the future, the R&D investment in the pharmaceutical industry will continue to increase, and the requirements for R&D efficiency will continue to increase.
Duozhen innovative enterprises need the help of CXO to accelerate the pursuit of overseas pharmaceutical leaders, which will also promote the further development of the pharmaceutical CXO industry
.
In addition, some people said that the CXO industry has undergone in-depth adjustments recently, and its valuation is at the bottom of history.
It is recommended to pay attention to companies with sufficient orders and reasonable current valuations against the trend
.
