The third pharmaceutical enterprise with a market value of 100 billion was born! Why are they? Who's next?

How to obtain capital market recognition? How to become a hundred billion market value enterprise? This is by no means the achievement of good performance On May 19, the closing price of Kangmei Pharmaceutical Co., Ltd was 21 yuan, with a market value of more than 100 billion yuan, reaching 103.9 billion yuan, becoming the third company with a market value exceeding 100 billion yuan among A-share pharmaceutical enterprises Before that, in April before the stock market crash in 2015, the market value of Kangmei Pharmaceutical Co., Ltd had exceeded 100 billion yuan, but after that, the market value that was once inflated by hot money also fell all the way The market value of 100 billion yuan was only a short time Now the market fluctuates at about 3100, Kangmei Pharmaceutical Co., Ltd can break through 100 billion yuan, and its stable market value has become a probability event The other two companies with a market value of 100 billion in the pharmaceutical sector are Hengrui pharmaceutical and Shanghai Laishi, with a market value of 137.9 billion yuan and 100.7 billion yuan respectively The former obviously has been on the throne of 100 billion market value, and is moving towards 200 billion market value On December 31, 2016, the market value of Hengrui medicine just exceeded 100 billion, reaching 106.7 billion yuan In less than half a year, the market value of Hengrui has increased by 31 billion yuan If calculated by this growth rate, the market value of Hengrui will probably exceed 200 billion yuan in the next two years As the first pharmaceutical A-share company with a market value of more than 100 billion, the market value of Shanghai Laishi has increased explosively In the past five years, there have been 11 stocks that have increased more than 10 times in the A-share market, among which Shanghai Laishi is the one that can enjoy this honor in the pharmaceutical field Since 2012, Shanghai Laishi has increased by 1025.43% At the end of last year, Shanghai Laishi was the market value leader of A-share pharmaceutical enterprises, with a market value of 114.7 billion yuan, but now it is no longer the champion, ranking third As the leaders of China's medical and pharmaceutical industry, these three enterprises have their own excellence, which is needless to say, but what they can't help but ask is how they get the recognition of the capital market? What are their characteristics? Who will be the next company with a market value of 100 billion? 1 Hengrui: "R & D brother" has been "myth" Don't imitate brother Brother is just a legend Hengrui pharmaceutical, as a white horse stock in the pharmaceutical industry, has been famous outside The name of "R & D first brother" is very popular No matter the bull market or the bear market, it has been able to move forward steadily and freely The reason is that Hengrui already exists as a "God" in A-share pharmaceutical enterprises Whether you recognize it or not, it feels like he is the first When the market is not good, shareholders are more willing to invest in the best one Hengrui's R & D strength is well known in the industry, which is also recognized by the capital market As early as 2000, sun piaoyang, chairman of Hengrui pharmaceutical, said that if Hengrui pharmaceutical wants to survive well, it must take a differentiated route As a result, Hengrui pharmaceutical has been laying out its layout along the pharmaceutical innovation strategy, focusing on building its R & D competitiveness In recent years, the company's new drug R & D has begun to enter the harvest period According to the judgment of securities analysts, it is expected to form a situation of 1-2 new drugs listed each year At the same time, its R & D strength has also won the title of "innovation benchmark" in the domestic pharmaceutical industry With regard to Hengrui's R & D, various reports are everywhere, high-frequency transmission, and its strength is beyond saying in the industry However, it can dominate the Chinese pharmaceutical market and enter the era of 100 billion market value, which is not achieved by its single competitiveness of R & D its marketing ability is no less than that of any domestic enterprise As one investor said: "the R & D of Hengrui medicine determines how far it can go, and the strength of marketing means how fast it can go." It is worth mentioning that sun piaoyang, though born in R & D, has been directly responsible for marketing since he was chairman of the board of directors, and his emphasis on marketing can be seen At the level of sales, Hengrui pharmaceutical adopts a flat hierarchy, with only three levels of internal management, including sun piaoyang, regional manager and office In the initial stage of development, the marketing mode of Hengrui pharmaceutical is no different from that of many domestic pharmaceutical enterprises In 2003, Hengrui changed the traditional marketing mode into academic promotion mode, which enhanced the brand recognition of anti-tumor drugs in the hospital market Henceforth, in order to cooperate with the upgrading of R & D innovation strategy, Hengrui pharmaceutical accelerated its transformation in marketing mode From 2005 to 2010, Hengrui pharmaceutical first established an independent legal person sales company, put the original sales team into the newly established sales company, and then carried out a specialized marketing network layout to get rid of the pattern of simply relying on the interests of sales, and established major sales companies to manage different sales products Jiangsu Hengrui pharmaceutical sales company is mainly engaged in anti-tumor drugs, some surgical anesthetics, contrast agents, cardiovascular drugs and other fields, while Lianyungang Xinchen pharmaceutical company is mainly engaged in surgical anesthetics, and Lianyungang Huachen pharmaceutical company is responsible for its OTC products such as belle After 2012, Hengrui pharmaceutical further promoted the independent work of the business system and actively explored new sales models Specifically, it is to further refine the market, constantly improve the national sales network, increase the construction of the sales market in the central and western regions, and gradually expand from the central city to the grass-roots level according to the actual situation, so as to tap the market potential It is precisely because the marketing system has been built for more than ten years, led by the old products docetaxel and oxaliplatin, the new and old products such as irinotecan and letrozole second-line products and the innovative drug apatinib have been smoothly relayed, firmly consolidating its leading position in the field of anti-tumor Although sevoflurane, the heavyweight product of surgical anesthetics, and shunatracurium, the auxiliary drug, have competitors, they have long occupied more than 50% of the market share by virtue of their marketing network advantages all over the country, and have maintained a growth momentum of more than 20% in recent years From this, it is not hard to see that Hengrui medicine is not only focusing on the development of R & D strategy, but is planning the layout with a set of comprehensive boxing methods, forming a strong pattern of R & D and marketing, orderly linking up, only waiting for new products to be launched, and making a large amount in the market at the fastest speed
From Hengrui's point of view, decades of forging R & D is a long-term success, which is invincible in the capital market From the perspective of investment in the secondary market is to invest in the long term With its current position, without "speculation", capital will vote with its feet In addition, Hengrui's strength in sales can be proved by visible figures It is "powerful", so it has formed a good cycle and achieved the effect that this story need not be told and everyone knows 2 Kangmei: it can have a market value of 100 billion yuan to hold the right to speak An important reason for its rapid growth every year is that it has enough right to speak in the upstream and downstream Kangmei pharmaceutical industry started with traditional Chinese medicine, which has built a competitive advantage in the whole industry chain after years of development In the upstream, in order to solve the limitation of the sales radius of Chinese herbal pieces, the company took the hospital as the core and started to expand from the regional market At present, it has established 11 production bases of Chinese Herbal Pieces in Guangdong, Beijing, Shanghai, Sichuan, Jilin, Anhui, Gansu and other places The production layout covering the whole country has been basically completed and it has become the only Chinese Herbal Pieces company that gradually radiates the whole country In the middle stream sales and circulation, in the form of self construction and strategic acquisition, it successively invested 1.5 billion yuan to build Kangmei traditional Chinese medicine city in Bozhou of Anhui, Puning of Guangdong, Yushu of Qinghai, Yulin of Guangxi, Xining of Qinghai, Longxi of Gansu, Anguo of Hebei and other professional markets of traditional Chinese medicine, and the turnover exceeded 75% of the total market of traditional Chinese medicine in China On the basis of strong offline service capacity, Kangmei pharmaceutical has built a large-scale trading platform for traditional Chinese medicine (Kangmei e-medicine Valley) online B2B e-commerce platform for traditional Chinese medicine trading After going online, it has built 17 service centers in Shenzhen, Guangzhou, Nanjing, Hangzhou and more than 380 secondary service outlets covering the main producing areas of traditional Chinese medicine in China It is in the whole industrial chain layout of the territory of Chinese herbal pieces that Kangmei can release energy that can not be described as monopoly, but it has enough strength to affect the price of some medicinal materials, which provides sufficient profit space for it In addition, at present, Chinese herbal pieces do not account for the proportion of drugs, and they are within the scope of reimbursement Compared with other pharmaceutical enterprises, Kangmei is the beneficiary of the impact of medical insurance cost control policy Therefore, its Chinese Herbal Pieces business increased by 26.43% in 2016, achieving a revenue of 4.7 billion yuan Further to the back end, around 2013, the trend of pharmacy trusteeship prevailed Kangmei pharmaceutical industry took the opportunity to enter, and started the first step of terminal layout, extending the industrial chain to the hospital: "the hospital is responsible for formulating the hospital medication directory, and Kangmei is responsible for the centralized distribution of all drugs in the hospital In this mode, the source of business profit is the price difference between the purchase and sale of drugs " The strategy of Kangmei pharmaceutical in pharmacy custody is "to cooperate with the government in depth with tax revenue as a breakthrough, establish subsidiaries in the local area and keep the tax revenue in the local area" It cooperates with Qinghai and Yunnan provinces, as well as Puning City, Puer City, Yulin City, Shenzhen Bao'an District, HUAIJI County, Guangdong Province, etc to conduct pharmacy trusteeship In 2014, we swallowed 4 hospitals and 5 township medical institutions in Puning at one go, and then brought pharmacy of 4 hospitals affiliated to Liaoning University of traditional Chinese medicine and 22 hospitals affiliated to Liaoning Medical Group into our arms In this year alone, we won pharmacy of 35 medical institutions In 2016, it monopolized 23 pharmacies of all medical institutions in HUAIJI County, and earned the custody right of pharmacies of hospitals in Yunnan Province So far, Kangmei pharmaceutical industry has really mastered the custody right of nearly 60 medical institutions in the pharmacy, forming a well deserved market monopoly advantage As long as enterprises want to enter these medical institutions, they must go through Kangmei pharmaceutical industry In addition, Kangmei pharmaceutical industry has established long-term cooperation with more than 2000 hospitals and 150000 pharmaceutical stores With the pharmacy trusteeship, there are terminal resources What's more, Kangmei obtains terminal resources through the pharmacy trusteeship, not like most pharmaceutical commercial enterprises, which have layout in the terminal, but Kangmei monopolizes the purchase and sale entrance of a batch of hospitals through the trusteeship Therefore, under the great influence of the system of replacing business tax with value-added tax and the two vote system, many enterprises' pharmaceutical businesses have declined, while Kangmei's pharmaceutical businesses have been able to rise rapidly and become the fastest-growing businesses Data shows that in the Kangmei business system, in the past year, the two sectors of drug and medical device trade achieved revenue of 7.303 billion yuan and 913 million yuan respectively, with growth rates of 35.35% and 53.79% respectively
To sum up, kangmeigou has built an industry chain with a sense of monopoly In the field of Chinese herbal pieces, kangmeigou firmly controls the production and sales channels of Chinese herbal pieces, and in the back end, it grasps the terminal resources through the pharmacy trusteeship, which is a bit like Tencent's QQ and wechat ports With users, it can play all kinds of games and conduct diversion and expansion to various fields that can be extended 3 Shanghai Laishi: the "God of shares" among pharmaceutical enterprises, Shanghai Laishi has become a hundred billion market value enterprise so quickly that many pharmaceutical industry people are very surprised Even some leaders of pharmaceutical listed companies will ask "why" from the bottom of their hearts? Men are afraid of entering the wrong line, women are afraid of marrying the wrong man From the perspective of business, the reason why Shanghai Laishi is recognized by the capital market is that it has made great contributions to its business Its main business of blood products is a highly regulated scarce resource field The scarcity lies in that: the first batch of blood products will not be produced in China since 2001