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On March 10th, the pharmaceutical outsourcing concept stocks rose, changing the situation of falling across the board on the 9th
.
As of 10:08, WuXi AppTec rose by more than 8%, WuXi Biologics rose by 5%, GenScript Biotechnology rose by more than 4%, and Pharmaron and Tigermed were up slightly
.
Among them, WuXi AppTec reported 101.
20 yuan, the turnover was 1.
978 billion, the turnover rate was 0.
77%, and the price-earnings (TTM) was 72.
01
.
On the news, WuXi PharmaTech announced the main operating data from January to February 2022 on the evening of March 9.
From January to February 2022, the year-on-year growth rate of orders in hand and sales revenue exceeded 65%, setting a record high.
.
In addition, WuXi PharmaTech expects Q1 revenue to grow by 65% to 68% year-on-year in 2022
.
Looking ahead to the full year, the company's revenue growth is expected to reach 65% to 70% year over year
.
WuXi Biologics reported HK$54.
50, with a turnover of 858 million, a turnover rate of 0.
37%, and a price-earnings (TTM) of 68.
73
.
In the news, on March 3, WuXi AppTec's subsidiary Hequan Pharmaceutical announced that its Wuxi preparation base has passed the European Medicines Agency (EMA) preparation production for an innovative drug from its partner in the fourth quarter of 2021.
Pre-approval inspection (PAI) conducted and GMP certificate obtained
.
It is reported that the Wuxi base of Hequan Pharmaceutical is an integrated base for formulation research and development and production.
Up to now, it has passed the review of regulatory agencies in China, the United States, Japan and Switzerland for more than 50 times
.
The industry believes that the Wuxi base has passed the PAI of the first EMA formulation project, which means that WuXi AppTec's layout in the global CXO market has reached a new level
.
GenScript Biotechnology reported HK$27.
05, with a turnover of 100 million, a turnover rate of 0.
17%, and a loss in price-earnings (TTM)
.
Recently, the company announced on March 8 that Legend America and Janssen have signed an interim product supply agreement on February 28, 2022.
According to the agreement, Legend America will supply Janssen with ciltacabtagene autoleucel (cilta-cel) for global clinical use.
and commercial use (except Greater China)
.
For the next market situation of the CXO sector, the industry generally adopts a cautious wait-and-see approach
.
Among them, Huatai Securities said that based on the construction in progress, it is judged that the 1Q22 economy will remain flat
.
It is expected that the growth rate of CXO's revenue in 1Q22 will stabilize or decline slightly under the pressure of high base, and the absolute growth rate is not weak
.
Wanlian Securities said that the core problem of the current CXO sector is to kill the valuation, which can only be said to be within a reasonable valuation range
.
It believes that the tightening of overseas monetary policy has a greater impact on the valuation of Hong Kong stock CXO
.
In the short term, it is recommended to wait and see cautiously
.
Zheshang Securities believes that the medium and long-term CXO is still possible to accelerate, and the investment value is prominent
.
It believes that the 2021-2022 policy + short-term investment and financing disturbances have led to the adjustment of CXO valuations to historical lows
.
From 2021 to 2024, the compound growth rate of revenue of CXO giants is still likely to accelerate, supporting the medium and long-term investment value
.
Judging from the CXO companies that have released their 2021 annual results and performance forecasts, most of the CXO companies’ net profit growth rate attributable to their parent companies has exceeded 40%, and the performance of CXO giants is particularly impressive
.
Among them, the profit growth rate of companies represented by WuXi AppTec, Asymchem, and Proton shares in 2021 will all be between 40% and 75%.
Corresponding to Wind’s unanimous expectations in 2022, the company’s valuation is mostly around 40 times
.
Zheshang Securities mainly recommends CDMOs whose performance is expected to enter a new round of acceleration period, such as CDMO leaders WuXi PharmaTech and Asymchem in the funnel effect cashing period; CDMOs with continuous capacity building and profitability expected to continue to improve, including Pharmaron Chemicals, Biopharmaceuticals Teng shares, Jiuzhou Pharmaceutical, Yaoshi Technology,
etc.
Clinical CRO: Tigermed, a clinical CRO giant in the internationalization capability transition
.
Pre-clinical CRO: Companies benefiting from dividends in the Chinese market and increasing the proportion of businesses with higher profitability, such as WuXi AppTec, Pharmaron, Zhaoyan New Drug, Medicilon, Frontage Holdings,
etc.
Disclaimer: Under no circumstances shall the information or opinions expressed in this article constitute investment advice to anyone
.
.
As of 10:08, WuXi AppTec rose by more than 8%, WuXi Biologics rose by 5%, GenScript Biotechnology rose by more than 4%, and Pharmaron and Tigermed were up slightly
.
Among them, WuXi AppTec reported 101.
20 yuan, the turnover was 1.
978 billion, the turnover rate was 0.
77%, and the price-earnings (TTM) was 72.
01
.
On the news, WuXi PharmaTech announced the main operating data from January to February 2022 on the evening of March 9.
From January to February 2022, the year-on-year growth rate of orders in hand and sales revenue exceeded 65%, setting a record high.
.
In addition, WuXi PharmaTech expects Q1 revenue to grow by 65% to 68% year-on-year in 2022
.
Looking ahead to the full year, the company's revenue growth is expected to reach 65% to 70% year over year
.
WuXi Biologics reported HK$54.
50, with a turnover of 858 million, a turnover rate of 0.
37%, and a price-earnings (TTM) of 68.
73
.
In the news, on March 3, WuXi AppTec's subsidiary Hequan Pharmaceutical announced that its Wuxi preparation base has passed the European Medicines Agency (EMA) preparation production for an innovative drug from its partner in the fourth quarter of 2021.
Pre-approval inspection (PAI) conducted and GMP certificate obtained
.
It is reported that the Wuxi base of Hequan Pharmaceutical is an integrated base for formulation research and development and production.
Up to now, it has passed the review of regulatory agencies in China, the United States, Japan and Switzerland for more than 50 times
.
The industry believes that the Wuxi base has passed the PAI of the first EMA formulation project, which means that WuXi AppTec's layout in the global CXO market has reached a new level
.
GenScript Biotechnology reported HK$27.
05, with a turnover of 100 million, a turnover rate of 0.
17%, and a loss in price-earnings (TTM)
.
Recently, the company announced on March 8 that Legend America and Janssen have signed an interim product supply agreement on February 28, 2022.
According to the agreement, Legend America will supply Janssen with ciltacabtagene autoleucel (cilta-cel) for global clinical use.
and commercial use (except Greater China)
.
For the next market situation of the CXO sector, the industry generally adopts a cautious wait-and-see approach
.
Among them, Huatai Securities said that based on the construction in progress, it is judged that the 1Q22 economy will remain flat
.
It is expected that the growth rate of CXO's revenue in 1Q22 will stabilize or decline slightly under the pressure of high base, and the absolute growth rate is not weak
.
Wanlian Securities said that the core problem of the current CXO sector is to kill the valuation, which can only be said to be within a reasonable valuation range
.
It believes that the tightening of overseas monetary policy has a greater impact on the valuation of Hong Kong stock CXO
.
In the short term, it is recommended to wait and see cautiously
.
Zheshang Securities believes that the medium and long-term CXO is still possible to accelerate, and the investment value is prominent
.
It believes that the 2021-2022 policy + short-term investment and financing disturbances have led to the adjustment of CXO valuations to historical lows
.
From 2021 to 2024, the compound growth rate of revenue of CXO giants is still likely to accelerate, supporting the medium and long-term investment value
.
Judging from the CXO companies that have released their 2021 annual results and performance forecasts, most of the CXO companies’ net profit growth rate attributable to their parent companies has exceeded 40%, and the performance of CXO giants is particularly impressive
.
Among them, the profit growth rate of companies represented by WuXi AppTec, Asymchem, and Proton shares in 2021 will all be between 40% and 75%.
Corresponding to Wind’s unanimous expectations in 2022, the company’s valuation is mostly around 40 times
.
Zheshang Securities mainly recommends CDMOs whose performance is expected to enter a new round of acceleration period, such as CDMO leaders WuXi PharmaTech and Asymchem in the funnel effect cashing period; CDMOs with continuous capacity building and profitability expected to continue to improve, including Pharmaron Chemicals, Biopharmaceuticals Teng shares, Jiuzhou Pharmaceutical, Yaoshi Technology,
etc.
Clinical CRO: Tigermed, a clinical CRO giant in the internationalization capability transition
.
Pre-clinical CRO: Companies benefiting from dividends in the Chinese market and increasing the proportion of businesses with higher profitability, such as WuXi AppTec, Pharmaron, Zhaoyan New Drug, Medicilon, Frontage Holdings,
etc.
Disclaimer: Under no circumstances shall the information or opinions expressed in this article constitute investment advice to anyone
.
