The pattern of the pharmaceutical industry is about to change, and we are optimistic about these configurations in innovative drugs and the industry chain.

In the first three quarters of 2021, the revenue and profit of listed companies in the pharmaceutical sector have shown a relatively stable growth trend.
After the three quarterly reports are disclosed in a concentrated manner, the pharmaceutical sector has entered a long-term cycle of valuation switching
.
According to the industry, with the implementation of policies such as volume procurement, the pattern of the pharmaceutical industry is about to change, and the structural differentiation is becoming more obvious.
Innovative drugs, medical devices, biological products, etc.
may become the main growth drivers for the development of the industry
.
Which on innovative drugs and industrial chain, and in particular the recommended configuration roadmap WuXi, Tiger medicine, Gloria Britain, Jiuzhou Pharmaceutical and so on
.
WuXi AppTec According to WuXi AppTec’s third quarterly report, from January to September 2021, its operating income increased by nearly 40% year-on-year to RMB 16.
521 billion; net profit attributable to shareholders of listed companies increased by approximately 50% year-on-year to RMB 3.
562 billion.

.
It is understood that since the third quarter, WuXi AppTec has adjusted the organizational structure of the company's business segments, integrating end-to-end integrated service capabilities into the three new business segments of chemistry, biology, and testing
.
At present, there are five major business segments: the chemical business segment, the biology business segment, the testing business segment, cell and gene therapy, and the domestic new drug R&D service department
.
Now the five major business sectors have begun to exert platform synergy, and their unique CRDMO and CTDMO business models are promoting the company's accelerated development
.
The company stated that it will continue to strengthen capacity and scale building globally, especially increase investment in new molecule research and development capabilities, to better meet the growing needs of customers
.
According to the data, in the first three quarters, WuXi AppTec added 526 new molecular projects, providing a total of 1,548 small molecule projects with CDMO services such as process development, formulation development, and production, including 37 that have been approved for marketing, clinical III There are 47 in clinical phases, 235 in clinical phase II, and 1229 in clinical phase I and preclinical phases
.
According to the data of the three quarterly reports released by Tiger Medicine, its revenue, profit attributable to the parent, and net profit deducting non-attributable to the parent in the first three quarters have increased by approximately 48%, 35%, and 75% year-on-year respectively.
, Net profits deducted from the parent company reached 395 million yuan, 181 million yuan, and 869 million yuan respectively
.
In the third quarter, the company achieved a revenue growth of approximately 58% year-on-year to reach 1.
339 billion yuan; net profit attributable to parent companies increased by approximately 65% ​​year-on-year to 526 million yuan.
Tigermed, established in 2004, is currently a large-scale clinical contract research in China.
One of the institutions
.
The company's operating income mainly comes from clinical trial technical services, clinical trial-related services and laboratory service income
.
In recent years, Tigermed has been favored by institutional investors due to its rapid growth
.
The company's current business has covered the entire process of pharmaceutical products from R&D to listing, and can be divided into two major business segments: Clinical Trial Technical Services (CTS), Clinical Trial Related and Laboratory Services (CRLS)
.
The coordinated development of CTS and CRLS kept the overall gross profit margin relatively stable
.
From the history of the company's development, it has seized many opportunities in the capital market and the industry.
Generally speaking, there have been no major decision-making errors.
The acquired company has basically not failed and has strong integration capabilities
.
Kailaiying According to data from Kailaiying's third quarter report, in the first three quarters of 2021, the company's revenue increased by about 40% year-on-year to 2.
923 billion yuan; net profit attributable to the parent increased by about 37% year-on-year to 695 million yuan
.
In the single quarter of the third quarter, the company's revenue increased by about 42% year-on-year to 1.
163 billion yuan, and net profit attributable to the parent increased by about 39% year-on-year to 266 million yuan
.
Gloria is a British CDMO (pharmaceutical contract manufacturing R & D) companies, major pharmaceutical companies, biotech companies provide to provide drug development, CMC production of one-stop service, customers including Merck, Pfizer, and other Abbvie
.
In 22 years of development, Gloria Pharmaceutical Group has always aimed at the forefront of the industry.
At present, the company has more than a dozen R&D, production and sales subsidiaries and offices, mainly in Tianjin, Jilin and Fuxin
.
There are more than 6,500 employees worldwide, assets of more than 7.
6 billion yuan, and the current market value is nearly 100 billion yuan
.
Jiuzhou Pharmaceutical According to the third quarter report of Jiuzhou Pharmaceutical, the company's operating income in the first three quarters was 3.
040 billion yuan, an increase of about 72% year-on-year, and the net profit attributable to shareholders of listed companies was 473 million yuan, an increase of about 98% year-on-year.

.
In the third quarter, operating income was 1.
136 billion yuan, an increase of about 54% year-on-year; net profit attributable to parent company was 198 million yuan, an increase of about 80% year-on-year; non-net profit attributable to parent deduction was 191 million yuan, an increase of about 111% year-on-year
.
Jiuzhou Pharmaceutical was established in 1998, mainly engaged in the research and development, production and sales of chemical raw materials and pharmaceutical intermediates.
The product treatment field involves central nervous system drugs, non-steroidal anti-inflammatory drugs, anti-infective drugs and hypoglycemic drugs.
and so on
.
Soochow Securities issued a research report saying that it maintains the buy rating of Jiuzhou Pharmaceutical
.
The main reasons for the rating include: 1) 2021Q3 performance is in line with expectations, and the CDMO business drives high performance growth; 2) the number of projects continues to increase, the customer structure is continuously optimized, and the company's CDMO business has a strong growth momentum
.