Three weeks after the listing of Gan Li Pharmaceuticals quickly broke through and dropped hundreds of billions of dollars in market value, the executive collective resigned.

Pharmaceutical Network July 23 - June 29, Gan Li Pharmaceuticalbell bell on the market, the issue price of 63.32 yuan.
immediately, Gan Li Pharmaceuticals ushered in 12 ups and downs and 2 stops, the current share price is still more than 200 yuan, the market value of more than 80 billion yuan, but at this time, some of Gan Li's executives collectively resigned.
12 trading days quickly rushed to the market value of 100 billion, ushered in twelve ups and downs and two downs, Gan Li Pharmaceuticals after the listing of a roller coaster.
but the current market value of Ganli is still more than 80 billion, located in the A-share pharmaceutical sector TOP20.
but just as the share price had broken some expectations, some GanLi executives, including founder Gan Zhongru, resigned en masse on the evening of July 20. according to the announcement of
Company, Gan Zhongru, Wang Dame, Ning Junjun, respectively, applied to resign as general manager, deputy general manager and finance head for personal reasons, and on July 20, the board of directors voted to appoint the former deputy general manager Du Kai as the general manager of the company, appoint Sun Cheng as deputy general manager, finance head, and promote Lawrence Allan Hill, Wang Bin and four other people as deputy general manager of the company. None of the executives who resigned
.
founder Gan Zhongru is still the chairman of the board and the chairman of the Strategy Committee, the remuneration and appraisal committee members, but no longer the general manager;
01.90 after the tube Pearson was promoted to vice-president in the listing more than 20 days, to carry out such a large number of personnel changes, is really intriguing.
industry view that this is a sign that Gan Li Pharmaceuticals has handed over its management team to the younger generation.
company chairman, the real controller Gan Zhongru was born in 1948, is 72 years old, former Merck researcher, and then in 1998 led the team to develop the first genetically recombinant human insulin, former deputy general manager Wang Damei and his core personnel of Ganli research and development.
the three resigned, the company also announced the appointment of six executives.
, the former deputy general manager Du Kai was promoted to general manager.
Dukai's previous management responsibilities are mostly overseas business, with 20 years of overseas business experience.
Dukai's resume shows that he joined Gan Li in 2008, initially as director of the International Department, in 2012 as a director of Ganli Russia, U.S. companies, and in 2016 promoted to deputy general manager.
for overseas business, Gan Li is also a lot of effort.
Although the company's revenue is still dominated by the domestic market, its main products, insulin glargine and insulin, have entered phase 3 of overseas clinical, of which insulin glargine products are expected to be approved in the United States in the second half of 2020.
raised funds in this listing, about 289 million yuan is spent on insulin glargine U.S. registered listing projects, 415 million yuan is intended for the U.S. registered listing project of insulin.
and Tudor will promote a strategic cooperation agreement between Ganli and Novartis in 2018, under which Sandex acquires sales rights for insulin glargine, insulin and endotheininsulin in North America and Europe, with a total of $23 million in franchise transfers, and sanders will pay additional milestones after the product goes on and off.
as clinical advances progress, Ganli's sales in the U.S. market will also be supported by Sanders.
, the promotion of DuKai and Lawrence Allan Hill, general manager of Ganli USA, is partly a sign of Gan Li's emphasis on overseas markets.
moreover, the personnel change is notable for the promotion of two young guan Peisheng as vice-president of the company.
, born in 1991, was a director of Gan Li Pharmaceuticals and a senior director of human resources, joined Gan Li in 2016 as a pipe Pearson, grew up from the human line, almost a year to rise to the post;
's share price roller coaster, but the industry's biggest concern about Ganli Pharmaceuticals is its share price. On June 29,
, Gan Li knocked on the bell.
issue price of 63.32 yuan, the opening price of 91.18 yuan, up 44% from the issue price, based on this calculation, Gan Li Pharmaceuticals market value of 36.572 billion yuan.
immediately, Gan Li Pharmaceuticals ushered in 12 ups and downs, the share price once as high as 286.18 yuan, a cumulative rise of nearly four times.
on the twelfth trading day, Gan Li's market value exceeded 100 billion, nearly three times the same insulin concept of Tonghua Dongbao.
but since July 16, two consecutive losses, July 21 fell 1.25% to close at 212.52 yuan, the current total market value of 85.2 billion yuan, in the A-share pharmaceutical sector is still in the forefront.
the market analysis of the stock price trend after the listing of Ganli Pharmaceuticals, insulin may be included in the national collection and the failure of its core patents is the main reason for the decline in share prices, but the industry's debate over how much market value is reasonable for Ganli.
first of all, from its products and areas.
at present, the core products of Glycerin Pharmaceuticals are insulin insulin injections (commodity name: Chang Xiuyu), in addition, Glycean also has two products: Lai Lu insulin injection (commodity name: quick show, refined protein zinc recombinant Lai Lui insulin mixed injection (25R).
of the three products, insulin glargine is the top priority.
its average price is about twice that of the other two, with 20.97 million units sold in 2019, compared with 1.64 million and 2.19 million units sold by Reliance insulin and 25R, respectively.
the characteristics of a single product is more obvious.
in the domestic market, the main manufacturers of insulin glargine are Sanofi, Zhuhai Federation, Tonghua Dongbao (approved less than a year), although Ganli Pharmaceuticals' market share is second only to Sanofi, but its share is only one-third of Sanofi, Sanofi still dominates the market landscape.
domestic sample hospital insulin insulin competition pattern but purely commercial, diabetes is a good market, especially in the field of insulin, the domestic mainly has three foreign investment and Ganli, federal, Dongbao and other minority enterprises, due to high barriers, the competitive landscape relative to some chemical drugs, it is not so intense, and Sanofi has also announced that it has abandoned the follow-up diabetes market research and development.
currently accountford in the global insulin market, three generations of insulin accounted for an absolute share, IMS data show that the United States and European market three generations of insulin accounted for about 80%.
in the domestic market, the proportion of three generations of insulin is relatively low.
more importantly, according to the latest China 2 Diabetes Prevention And Control Guidelines, China's diabetes accounts for 10.9% of the total population, that is, more than 100 million people, but fewer patients are diagnosed, due to price and other considerations, the use of insulin for treatment is less than 10%, so there is room for this market.
this year's new health care catalog will include insulin glargine, which will provide important support for Ganli's market expansion.
but Ganli's products are slightly thinner than the portfolio seamount of Novo Nordisk, Sanofi and others.
at present, Ganli Pharmaceuticals research and development of Mendong insulin and sperm protein recombinant human insulin is in the review and approval process, after approval will be to a certain extent to enrich the product portfolio, Mendong insulin is the domestic diabetes drug TOP5 products, but at the same time, this product still faces the competition of Novo Nordisk and the risk of product replacement.
domestic diabetes drug ranking 03. Flying a sword on the head but now it seems that the real impact on the insulin market is the national collection.
mid-July, the International Health Insurance Administration released a signal that insulin was being considered for inclusion in national collections.
after several rounds of collection, the current medical insurance bureau in the field of vision of the evaluation of three chemical drugs left there is not much, and Traditional Chinese medicine and some biological agents in the definition of the collection rules there are some difficulties, so insulin and other biologically similar drugs are considered to be very likely to be included in the future round of collection.
20 billion insulin market, there are not many competitors.
but once in the collection, there is the possibility of market contraction.
according to the relevant provinces of drug tender information, Ganli's insulin glargine winning price of about 144 yuan, and Tonghua Dongbao and the federal pharmaceutical industry is almost no difference, Sanofi's price is between 160-185 yuan.
Gan Li's prospectus shows that its gross margin is as high as 90%, and relatively nearly 2.9 billion in revenue, Gan Li hua dahua spent nearly 800 million sales, so Gan Li has room to reduce prices.
and Gan Li also showed a positive attitude towards the collection.
in the early part of the year in Wuhan City for insulin collection, Gan Li's pillar product glycol insulin winning the bid, 25R also participated in the winning bid.
but affected by the outbreak, this policy has not yet landed, the winning bid price has not been disclosed.
in addition to the price, the national production capacity is also a major consideration.
Gan Li is also confident in its future market, part of the funds raised will be used to expand production capacity, its insulin industrialization project has started, the annual production capacity of insulin preparations is expected to be increased from 6.5 million to 45 million units, the annual production capacity of API from 250kg to 1000 kg.
but the stock price correction also stems in part from the response to the national collection policy, in the current 20 billion insulin market, whether Glycan can support the market value of hundreds of billions of dollars, but also need to see the progress of the collection policy and its future research and development pipeline assets, as the current situation, the industry generally believes that the market value of 40-50 billion is relatively rational.
as for the assets on the research and development pipeline, Gan Li Pharmaceuticals currently does not have too much information disclosure.
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