Wuzhong, Jiangsu Province, raised 500 million yuan to invest in a class of anticancer drugs

In just two weeks, the stock market of Shanghai and Shenzhen ushered in another round of big ups and downs When the securities companies, banks and real estate stocks were in a frenzy, pharmaceutical listed companies seemed to be the forgotten corner Many pharmaceutical stocks that were still in the leading position last month disappeared in an instant Of course, they don't really wait for the bell at the end of the year, but quietly arrange the game Jiangsu Wuzhong (600200 SH), which has raised 514 million yuan through fixed-term increase, has almost all the Baodu on Wuzhong Pharmaceutical Group This A-share market cross-border management demon stock has been strong since June this year, but few institutions are optimistic about it As shown in the unformed plan for class I original research drug projects, this non-public offering is intended to issue no more than 45.3 million shares to no more than 10 specific objects, with the issue price no less than 11.34 yuan / share The raised funds will invest in 5 projects and supplement the working capital of pharmaceutical business Among them, 156 million yuan is planned to be invested in the research and development project of recombinant human endostatin injection, 46 million yuan is planned to be invested in the adjustment and reconstruction project of Hedong (API) and Hexi (preparation), 36.79 million yuan is planned to be invested in the project of drug automatic three-dimensional warehouse, 69 million yuan is planned to be invested in the project of medical marketing network construction, 106 million yuan is planned to be invested in the project of medical research and development center Billion yuan is used to supplement working capital The reporter found that there was no fund company in the list of shareholders in Wuzhong, Jiangsu Province "This may be related to the lack of concentration of the company's business involvement It's difficult for fund managers to grasp the nature and trend of the company's business, and this fixed increase should and is unlikely to involve fund companies." An insider from a fund company expressed his views to reporters Wuzhong Pharmaceutical Group, which owns 98% of the equity, has always been the most valuable subsidiary of Wuzhong, Jiangsu Province According to the financial data in the first half of 2014, the pharmaceutical industry accounts for 24.92% of the main revenue, second only to precious metal business, but the gross profit rate is as high as 33.45% Of course, these can not be the direct driving force of the stock price rise The research and development news of new anti-cancer drugs is the topic that investors pay more attention to As a kind of rare new drug, recombinant human endostatin is expected to conquer the scientific research achievements of other advanced countries in this field Since 2011, when Wuzhong, Jiangsu Province, applied for the drug to enter phase III clinical practice, there have been different opinions on its speculation Like all the drugs expected to be developed, the rumors of failure are even more vivid Of course, speculation is not groundless Since the third phase of clinical practice, the company will publicize its progress every time its financial statements are disclosed Jiangsu Wuzhong reported in 2011 that it plans to complete the enrollment of more than 210 cases in 2012 But in fact, in 2012, only more than 150 cases were enrolled, and only more than 10 cases were added in the first quarter of last year In 2013, the company announced that the phase III clinical trial would expire at the end of 2014, but I'm afraid that's not the case The reporter learned that the exact expiration date of the test should be February 2015 So, the fixed increase will cost an additional 156 million yuan for the research and development of the drug, which may also indicate that there is a long way to go before the success of the test Today's stock price performance is regarded as a carnival ahead of time Some people question, what kind of market influence does Su Zijia have? At present, no specific figures can be drawn, but it is advisable to make a bold and reasonable inference through the current situation of similar drugs Compared with the same targeted drugs for the treatment of non-small cell lung cancer, the first year of the market of Xiansheng pharmaceutical, the market scale reached 200 million, and the sales scale of gefitinib and erlotinib in China in 2009 was 187 million and 139 million If the import substitution is excluded, the annual sales scale of sushijia will be at least 150-200 million yuan So, after the phase III clinical trial is completed, will it really be so beautiful? After passing the round of tests, most drugs are waiting for sale However, the drugs that some countries attach great importance to will also be subject to phase IV clinical trials, that is, the re research of the drugs on the market Insiders from the State Drug Administration said that Su Qiujia, as a non-small cell lung cancer response drug, is bound to undergo four phases of trials, in which the uncertainty still exists According to it, the tentative time of phase IV clinical treatment is January 2016, which is expected to last for 3 years, that is to say, it will not be completed until 2019 He also reminded that the project is a research and development project, which will not directly generate economic benefits after completion It is set to expand the pharmaceutical industry chain However, Wuzhong, Jiangsu Province, is still questioned by the outside world, relying only on Su Zijia In the investigation, the reporter learned that the subsidiary Wuzhong Pharmaceutical Group is currently producing 12 drugs, of which the immunomodulator Fulu drink is its exclusive variety And the frequent cross-border Jiangsu Wuzhong also makes investors a little confused The company's industry involves real estate, foreign trade, non-ferrous metals and many other unrelated fields Is this a diversified business or not? In the first half of 2013, the company transferred 59.48% of its shares in Suzhou Changzheng Xinkai Pharmaceutical Co., Ltd., which was not included in the company's consolidated statements, which also resulted in a year-on-year decrease of gross profit of 20.7485 million yuan in the pharmaceutical industry As the top three business, the gross profit margin of precious metal processing business in the first half of this year is only 1.25% With the continuous decline of gold price, the company will encounter a greater crisis in this field in the future As for the real estate business, Wuzhong in Jiangsu sold all assets of the clothing industry in that year and entered the real estate circle in 2010 In that year, the business was only 1.62% of the main business income, but the gross profit margin was as high as 37.95% Today, whether it's real estate or precious metal processing, from the perspective of gross margin, they are not competitors of the pharmaceutical business In the face of such a situation, chairman Zhao unique listed the pharmaceutical industry as the most important core competitiveness of the company In his opinion, on the one hand, he completed the new GMP certification of all production lines and products to fully support the long-term goal of the core pharmaceutical industry's outward merger and acquisition and expansion; on the other hand, he completed the internal resource integration of the pharmaceutical industry and effectively improved the internal management efficiency At present, the company has large and small volume injection, freeze-dried sub packaged powder injection, tablet, capsule, granule, oral solution, drop pill, emulsion and other dosage forms and a variety of API production lines, all of which have passed the national GMP certification earlier, and the modern medicine logistics center will also pass the GSP certification and put into use this year From the purpose of the raised funds, we can see that the plan to expand the pharmaceutical industry chain is quietly brewing within the company This paper attempts to further optimize the industrial chain from the three key sub strategies of product development, marketing and commerce According to the announcement, in addition to 156 million yuan for research and development of recombinant human endostatin, another 106 million yuan will be used for drug research and development projects It can be seen that product R & D will be the most important link of the company in the future According to the company's insiders, by the end of 2013, the company had a total of 36 research projects including anti-tumor, immune regulation, digestive and anti infection projects, of which 6 were applied for production, 3 were in clinical stage, 4 were applying for clinical approval, and the rest were in pre clinical pharmaceutical research stage In addition, the adjustment and reconstruction project of API (Hedong) and preparation (Hexi) is to move the API production of existing Hexi plant area to Hedong API plant area, expand the API production of core preparation, and carry out the technical transformation of the preparation part of the removed Hexi plant area and the improvement of the pharmaceutical quality control system, which is expected to be completed by the end of 2016.