Understand the competition of green leaf product line! What does its future depend on?

LVYE pharmaceutical focuses on the largest and fastest-growing treatment fields in tumor, cardiovascular system, digestion and metabolism, central nervous system and other markets Its business has covered China, the United States, Europe and other countries and regions In 2016, the business performance maintained a steady growth, with an operating revenue of 2.921 billion yuan, a year-on-year increase of 13.82%, and a net profit attributable to the parent company of 782 million yuan, a year-on-year increase of 12.58% Green leaf pharmaceutical products cover multiple treatment fields, with 6 core products, 5 of which are patented and used to treat or prevent high-risk diseases, including cancer, cardiovascular disease, diabetes and central nervous system The annual report of the company shows that in 2016, the revenue contribution of antineoplastic drugs was 53.81%, that of cardiovascular and cerebrovascular drugs was 22.34%, that of digestive and metabolic drugs was 19%, and that of other drugs was 4.85% IMS data shows that in 2016, the domestic terminal purchase amount of anti-tumor drugs of the company reached 2.51 billion yuan, accounting for 68% In 2016, the domestic terminal procurement of green leaf pharmaceutical product line was composed In 2016, the core products of anti-tumor drugs were paclitaxel liposome for injection (Lipitor) and glycididazole sodium for injection (ximena) The terminal procurement amount of Lipitor was 1.789 billion yuan, up 19% year-on-year, making it the largest cash product of green leaf The core varieties in cardiovascular field are Xuezhikang and sodium aescinate for injection (maitongna) The core variety in the field of diabetes is acarbose capsule (Beixi) In 2016, the terminal purchase amount was 230 million yuan, an increase of 45% year on year The core product of the central nervous system is kabalatin transdermal patch, with a market share of 28.2% in the United States and 13.2% in the European Union in 2016 The second-line varieties sold by LVYE pharmaceutical include lentinan, reduced glutathione for injection and pantoprazole Internationalization is another focus of green leaf industry At present, its business scope has covered China, the United States, Europe and other countries and regions In 2016, the company's overseas R & D project was successfully promoted, and the goserelin sustained-release microspheres for prostate cancer and breast cancer treatment have obtained the FDA's clinical approval The multi day dosage form of carbalatin transdermal patch has been approved in Germany to carry out clinical trials for the treatment of Alzheimer's disease Risperidone sustained-release pellets have completed clinical application and are expected to be put on the market in 2018 and launched in China and the United States in the second half of 2019 According to the company's long-term plan, overseas research products will be listed in the United States, Europe and Japan respectively 1 The anti-tumor product line Lipu has supported half of the green leaves with its own strength In 2016, the terminal purchase amount was 1.789 billion yuan, accounting for 48% of the total terminal purchase amount of LVYE pharmaceutical Paclitaxel has the characteristics of broad spectrum, high efficiency and low toxicity In 2016, the purchase amount of domestic paclitaxel drug terminal reached 3.32 billion yuan, with a year-on-year growth rate of 8% It is the anti-tumor variety with the highest purchase amount At present, the main products on the market are Paclitaxel injection, paclitaxel liposome and paclitaxel albumin binding three dosage forms The Lipitor of green leaf pharmaceutical belongs to paclitaxel liposome The incidence of adverse reactions of these three dosage forms decreased gradually, the curative effect increased gradually, but the drug price also increased gradually In 2003, Lipitor was listed in China Compared with traditional dosage forms, it has the advantages of high efficacy and low toxicity, which helped it seize the domestic market rapidly In 2016, the market share of Lipitor was about 54% However, the market share of traditional dosage form product Taisu of BMS has been reduced to 11% The unit price of paclitaxel albumin binding products is too high (5500-6000 RMB / piece, four pieces in a course of treatment, with a total cost of 23 thousand yuan), which is more than three times that of Lipitor, limiting its market promotion, and the current market share is also low With the listing of albumin paclitaxel products of domestic enterprises such as petrochemicals and Hengrui, it will pose a threat to Lipitor in the long run Considering that the domestic albumin paclitaxel products should be replaced by KAISU first, and the future direction of Lipitor is to replace the traditional paclitaxel dosage form products, it is expected that the impact in the next few years will be relatively small In July 2017, the Ministry of human resources and social security issued the notice on the inclusion of 36 drugs in the category B scope of the national basic medical insurance, work injury insurance and residual insurance drugs catalogue Among the 44 varieties that have entered the medical insurance negotiation catalogue before, 36 products have been included in the scope of the medical insurance catalogue, with an average price reduction of 44% The Lipitor of LVYE pharmaceutical was not included in the medical insurance catalogue, which is expected to be because the price reduction is much higher than the company expected Lipitor has entered the supplementary medical insurance catalogue of 12 provinces, and the failure of this negotiation has little impact on the sales of these 12 provinces The sales of Lipitor in 14 provinces may be impacted if it enters into the database of synonyms (basic medical insurance, industrial injury insurance and maternity insurance drug use record) The company said that 12 medical insurance provinces contributed 60% to the sales of Lipitor, 14 provinces with different names and 20% for self funded users Even if the company withdrew from the medical insurance catalog, it could maintain more than 10% growth in the next few years Another core product of anti-tumor product line is glycididazole sodium for injection (Simena) In the 2009 version of the medical insurance catalogue, although shimena is listed in class B, the subsidy qualification is only limited to "work injury" In 2017, in the new version of the medical insurance catalog, the work-related injury limit of shimena was cancelled and changed to "head and neck cancer limit", which increased the scope of application of the product in the medical insurance In 2016, the market size of Simena was about 70 million yuan, a year-on-year decrease of 1% The adjustment of medical insurance catalog is conducive to the expansion of product market space and get rid of the negative growth trend 2 LVYE of the cardiovascular product line is the No.1 manufacturer of traditional Chinese medicine lipid regulating drugs in China Zhizhikang and maitongna are the two core varieties of the most commonly used Chinese medicine for reducing blood lipid and the best-selling domestic vascular protection drugs in 2016 In 2016, the terminal purchase amount of LVYE pharmaceutical in cardiovascular sector was 640 million yuan, up 4% year on year The slowdown in the growth rate of core product maxona has brought a decline in the growth rate of the overall cardiovascular sector According to IMS data, the market value of hyperlipidemia, blood cholesterol / triglycerides and LDL cholesterol drugs in China in 2016 is estimated to be about 11.7 billion yuan Zhizhikang is the best-selling pure natural lipid regulating drug in China, with a market scale of 130 million yuan and a growth rate of less than 5% In 2017, the medical insurance catalog was adjusted to eliminate the limitation of only hospitalization reimbursement, and outpatient hospitalization can be reimbursed Considering that statins require patients to have good medication compliance and take them for a long time, the longer the time is, the more benefits will be Outpatient reimbursement has a positive effect on the expansion of market space With the in-depth education of doctors and patients and the in-depth academic promotion of zhizhikang, the market scale and sales growth of the products are expected to show an upward trend Another product, maxona, has been a mature drug since it was put on the market earlier, with limited market incremental space In 2016, the market size of generic name was RMB 1.157 billion, an increase of 4.5% year on year Maitongna is the best-selling sodium aescinate product in China in 2016 In 2016, the terminal purchase amount was 490 million yuan, an increase of 5% year-on-year, and the growth rate of sales amount was basically the same as that of the general name market At present, there are nearly 20 manufacturers selling sodium aescinate preparations in China, with top 4 occupying 97% market share and high concentration Among them, green leaf pharmaceutical has the highest market share of 43%, followed by Leda pharmaceutical company with a share of 38% As the second largest manufacturer in China, Wuhan Aimin pharmaceutical has become the main competitor of LVYE pharmaceutical In addition to Sodium Aescinate for Injection, the company also has seven sodium ozonate products (ozai) and Compound Sodium Aescinate Gel (OLE) In 2017's new version of the medical insurance catalogue, the European Development Bank was adjusted into China, and its potential is expected in the later stage The indications of Oulai are inflammation, local swelling caused by degenerative diseases and trauma, spinal pain disease, acute closed soft tissue injury, tenosynovitis, thrombophlebitis, varicose veins, etc its administration route is convenient and it enters the medical insurance catalogue of two provinces 3 diabetes product line and other areas in diabetes, Behi is the core product of green leaf pharmaceutical, which is used to reduce the blood glucose level of patients with type two diabetes LVYE pharmaceutical is the only manufacturer of acarbose capsules in China Its main competitors are Bayer (original research) and China, the United States and East China Besch is the third most commonly used acarbose product in China, with a market share of about 7% Baitangping, the original research drug, occupies the main market in China, but its market share is decreasing year by year due to price factors Kabopin of China, the United States and East China has the second largest market share In 2016, the sales growth of LVYE pharmaceutical is far higher than that of China, the United States and East China In the process of import substitution, Beixi is expected to see rapid growth with the help of a small base In other products, EGCG injection is a sterile aqueous solution of synthetic derivatives of eel calcitonin polypeptide Its main function is to inhibit the activity of osteoclasts, reduce the absorption of bone, and prevent the loss of bone calcium It is suitable for bone pain caused by osteoporosis According to the common name of calcitonin injection, the market scale is nearly 100 million yuan, showing a negative growth trend for two consecutive years In 2017, due to the adjustment of medical insurance catalogue, sdino became the exclusive product for medical insurance, and its main competitor was yigeining of Asahi Chemical Industry Co., Ltd In 2016, the terminal purchase amount of sdino was 60 million, a year-on-year increase of 27.9%, and the market share was 63% Under the positive effect of health insurance coverage, sdino is expected to seize more market share The R & D activities of green leaf pharmaceutical in the research product line are composed of four platforms, namely, long-term and sustained-release technology platform, liposome and targeted drug delivery, transdermal drug delivery system and new compounds As of December 31, 2016, LVYE pharmaceutical has obtained more than 250 patents in China and more than 40 patents are in the application stage In total, LVYE pharmaceutical has obtained more than 150 patents overseas and more than 50 patents are in the application stage The R & D projects of the company not only include the core fields of oncology and digestive metabolism, but also extend to the field of central nervous system treatment As of December 31, 2016, LVYE pharmaceutical has 27 products under development at different stages in China, including 15 oncology products, 3 cardiovascular and metabolic products and 9 central nervous system products In 2016, LVYE Pharmaceutical Co., Ltd had a variety of products under development in different stages in the United States or Europe The main innovation of green leaf pharmaceutical products lies in the dosage form Under the premise of known drug molecules, the original research dosage form is improved, so as to effectively improve the efficacy or reduce the side effects Compared with the traditional research and development of new drugs, dosage form innovation has the characteristics of low cost, low risk and short cycle LVYE pharmaceutical relies on long-term and sustained-release technology platform, liposome and targeted drug delivery technology platform, transdermal drug delivery system and new compound platform to carry out research and development projects efficiently There are also high technical barriers in pharmaceutical form innovation, which can effectively maintain the competition pattern, and the threat of new entrants is relatively small Physical and chemical methods are needed to determine the interaction between drug molecules and excipients in the development process of preparations, which can not be evaluated by existing macro indicators Pharmaceutical companies are required to test pharmaceutical production process from performance level indicators, such as fluidity, density, excipient crystal form, etc There are many factors that affect the construction of drug carriers, and the formulation innovation needs to build a more rigorous pharmacokinetic model than the innovation of a class of new drugs In 2016, the company completed the merger and acquisition of European acino group's transdermal preparations and plant business, and gained transdermal products