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CRO is the drug development outsourcing service, which includes two stages of preclinical and clinical research
.
According to data, the scale of China's CRO industry has grown from 13.
6 billion yuan in 2011 to 67.
8 billion yuan in 2018, with an average annual compound growth rate (CAGR) of more than 20%, and the CAGR will probably remain at 20% to 25% in the next three years.
%
.
According to industry estimates, by 2023, China's CRO market is expected to reach $17.
2 billion
.
Facing the vast blue ocean of the market, the performance of many CRO companies is also growing
.
For example, Tigermed recently released the 2021 annual performance forecast.
The announcement shows that Tigermed's expected 2021 revenue and net profit attributable to shareholders of listed companies have increased compared with the same period last year
.
The forecast shows that the net profit attributable to shareholders of listed companies in 2021 is expected to be 2.
625-3.
027 billion yuan, a year-on-year increase of +50%-73%
.
It is estimated that the net profit after deducting non-return to the parent is 1.
133-1.
324 billion yuan, a year-on-year increase of 60%-87%
.
The non-recurring gains and losses in 2021 were RMB 1.
4-1.
8 billion, mainly due to the gains from changes in the fair value of financial assets recognized by the company in accordance with the new financial instrument standards and gains from equity transfers
.
WuXi PharmaTech's 2021 third quarter report shows that the company's revenue in the first three quarters of 2021 increased by 39.
8% year-on-year to 16.
521 billion yuan, and net profit attributable to the parent increased by 50.
4% year-on-year to 3.
562 billion yuan; in a single quarter, the third quarter of 2021.
Revenue increased by 30.
6% year-on-year to 5.
985 billion yuan, and net profit attributable to the parent was 887 million yuan, a year-on-year increase of 36.
2%
.
The year-on-year growth rate of WuXi AppTec's revenue and net profit attributable to the parent company in the first three quarters of 2021 is at a record high, and the company is still on the track of rapid growth
.
Jiuzhou Pharmaceutical’s 2021 third quarter report previously released is also in line with expectations.
It is one of the leading companies in the domestic API + CDMO business, especially in the CDMO field.
Under the opportunity, the company's CDMO business capabilities will be expected to rapidly improve
.
It is estimated that the company's net profit attributable to the parent in 2020-2022 will be 352, 577, and 730 million yuan, respectively, with corresponding growth rates of 47.
9%, 64.
0% and 26.
6% respectively.
In the first three quarters of 2021, Kanglong Chemical's operating income also reached 5.
301 billion yuan, an increase of 47.
84% over the same period in 2020; deducted non-net profit of 931 million yuan, an increase of 53.
71% over the same period in 2020
.
It is worth noting that such a dazzling level of growth also gives it the confidence to continue acquisitions
.
It is reported that out of optimism about the entire industry, Kanglong Chemical has carried out several overseas M&A transactions in the past two years
.
On January 10 this year, Pharmaron announced the successful acquisition of Aesica Pharmaceuticals, a subsidiary of Recipharm in Cramlington, UK
.
The industry believes that this acquisition will not only help Pharmaron to obtain production facilities that meet various standards and certifications and enhance its OEM production capacity, but also directly enable it to undertake the business carried out by Cramlington and increase its profit scale more rapidly
.
In general, CRO is the product of the specialized division of labor in the pharmaceutical R&D industry
.
Compared with the internal research and development of pharmaceutical companies, it can improve efficiency and reduce research and development costs
.
Therefore, with the continuous advancement of pharmaceutical reform and the tide of innovation and development, the domestic pharmaceutical CRO industry will begin to explode
.
The analysis believes that from the current performance data of CRO companies, the performance of major listed companies on the CRO track will continue to grow in the future, and it is expected that more than 90% of them will achieve a year-on-year increase in net profit
.
.
According to data, the scale of China's CRO industry has grown from 13.
6 billion yuan in 2011 to 67.
8 billion yuan in 2018, with an average annual compound growth rate (CAGR) of more than 20%, and the CAGR will probably remain at 20% to 25% in the next three years.
%
.
According to industry estimates, by 2023, China's CRO market is expected to reach $17.
2 billion
.
Facing the vast blue ocean of the market, the performance of many CRO companies is also growing
.
For example, Tigermed recently released the 2021 annual performance forecast.
The announcement shows that Tigermed's expected 2021 revenue and net profit attributable to shareholders of listed companies have increased compared with the same period last year
.
The forecast shows that the net profit attributable to shareholders of listed companies in 2021 is expected to be 2.
625-3.
027 billion yuan, a year-on-year increase of +50%-73%
.
It is estimated that the net profit after deducting non-return to the parent is 1.
133-1.
324 billion yuan, a year-on-year increase of 60%-87%
.
The non-recurring gains and losses in 2021 were RMB 1.
4-1.
8 billion, mainly due to the gains from changes in the fair value of financial assets recognized by the company in accordance with the new financial instrument standards and gains from equity transfers
.
WuXi PharmaTech's 2021 third quarter report shows that the company's revenue in the first three quarters of 2021 increased by 39.
8% year-on-year to 16.
521 billion yuan, and net profit attributable to the parent increased by 50.
4% year-on-year to 3.
562 billion yuan; in a single quarter, the third quarter of 2021.
Revenue increased by 30.
6% year-on-year to 5.
985 billion yuan, and net profit attributable to the parent was 887 million yuan, a year-on-year increase of 36.
2%
.
The year-on-year growth rate of WuXi AppTec's revenue and net profit attributable to the parent company in the first three quarters of 2021 is at a record high, and the company is still on the track of rapid growth
.
Jiuzhou Pharmaceutical’s 2021 third quarter report previously released is also in line with expectations.
It is one of the leading companies in the domestic API + CDMO business, especially in the CDMO field.
Under the opportunity, the company's CDMO business capabilities will be expected to rapidly improve
.
It is estimated that the company's net profit attributable to the parent in 2020-2022 will be 352, 577, and 730 million yuan, respectively, with corresponding growth rates of 47.
9%, 64.
0% and 26.
6% respectively.
In the first three quarters of 2021, Kanglong Chemical's operating income also reached 5.
301 billion yuan, an increase of 47.
84% over the same period in 2020; deducted non-net profit of 931 million yuan, an increase of 53.
71% over the same period in 2020
.
It is worth noting that such a dazzling level of growth also gives it the confidence to continue acquisitions
.
It is reported that out of optimism about the entire industry, Kanglong Chemical has carried out several overseas M&A transactions in the past two years
.
On January 10 this year, Pharmaron announced the successful acquisition of Aesica Pharmaceuticals, a subsidiary of Recipharm in Cramlington, UK
.
The industry believes that this acquisition will not only help Pharmaron to obtain production facilities that meet various standards and certifications and enhance its OEM production capacity, but also directly enable it to undertake the business carried out by Cramlington and increase its profit scale more rapidly
.
In general, CRO is the product of the specialized division of labor in the pharmaceutical R&D industry
.
Compared with the internal research and development of pharmaceutical companies, it can improve efficiency and reduce research and development costs
.
Therefore, with the continuous advancement of pharmaceutical reform and the tide of innovation and development, the domestic pharmaceutical CRO industry will begin to explode
.
The analysis believes that from the current performance data of CRO companies, the performance of major listed companies on the CRO track will continue to grow in the future, and it is expected that more than 90% of them will achieve a year-on-year increase in net profit
.
