Medical network on July 31 - environmental situation to upgrade the impact on the pharmaceutical industry is emerging, most have market power and pricing power limit production enterprise has been discontinued or apis, API set off a new round of price increases accordingly, partial variety price has raised. In particular, the vitamin family, the price is generally higher, the related listed companies report the performance expectation performance. However, the performance of listed companies in the beijing-tianjin-hebei region is a little flat.
Vitamins rose across the board
Since 2017, the vitamin market has been booming, and most of the price of vitamins has remained high. Since June, vitamin D3 price from 70 yuan/kg soared to July 3, 425 yuan/kg, since 2017 have risen as high as 456%, prices hit a record high, previous highs set in 2009 of 423 yuan/kg, the European market price is up to 30-40 euro/kg, now many companies have stopped to vitamin D3 quotation.
The price increase of this round of vitamin D3 exceeded market expectations, and industry insiders predict that current vitamin D3 supply tension, late or continue to rise. "In the past price cycle duration generally for three to six months, due to the vitamin D3 market supply is adequate, the supply gap can be quickly fill and level up, long-term rise in price of steam. The background of the rise in price is increasingly strict environmental protection pressure, part is in a state of long-term production capacity, increase in the price of the current cycle is expected to last more than 1 year." Tianfeng securities medicine researcher Yang yanhui said.
Due to environmental factors, the supply of vitamin B1 has been tightened recently, and the supply and demand imbalance has been further aggravated by the maintenance of manufacturers. The new drug has stopped taking vitamin B1 and has a further boost in vitamin B1 in the short term, according to Yang fuhui, a researcher with tianfeng medicine.
Since February, the ministry of environmental protection has conducted special inspections on air quality in Beijing, tianjin, hebei, shanxi, shandong and henan provinces. Among them, hebei and shandong are the main producing areas of Chinese pharmaceutical and chemical intermediates. As domestic environmental verification has become more stringent, a number of API companies have been restricted or suspended due to substandard products, thus triggering a new wave of the price of raw materials, many of which have started to increase.
At the same time that vitamin products are "sitting down", the six months performance of related listed companies is also very eye-catching. Northeast pharmaceutical half annual net profit growth of 11 times, is a procession, on July 14, the evening disclosure half-year forecast, is expected in the first half of the profit of 38 million yuan, 41 million yuan, a year-on-year growth of 1106% over the same - 1201%.
The second half of the annual report, which was followed by garden biology, showed that the company's first-half profit was 73 million yuan -- 77 million yuan, up 364.10 percent from a year earlier -- 389.53 percent.
The half-yearly report of the brother technology shows that its operating income is 653 million yuan. The net profit attributable to shareholders of listed companies was 154 million yuan, up 129.42 percent from the previous year.
However, the performance of north China pharmaceuticals, which has been repeatedly restricted due to the haze in the region, has been slightly more muted. In the evening of April 21, north China pharmaceuticals released a quarterly report, and the company's net profit attributable to the owner of the listed company was 1348.98 million yuan, down 2.81% from the same period last year. Revenue was 21.61 billion yuan, up 0.53 percent from a year earlier.
"This year, the pharmaceutical industry is facing more environmental pressure than ever before. It is no longer a icing on the cake for the pharmaceutical companies to do green and clean production, but it is a matter of life and death." Senior vice President of Chinese medicine association Zhang Mingyu said, anti-pollution ability and the cost will be the future pharmaceutical enterprise's core competitive elements, in the face of increasingly stringent environmental requirements, behind, low level repeated construction, at the expense of the environment of excessive pollution enterprises will be difficult to survive.
Stop production to boost prices
Ministry recently reported, at the end of June, beijing-tianjin-hebei in 28 cities and surrounding areas have check out "messy" 17.6 enterprise, cannot upgrade satisfy the business, this year will shall be closed before the end of September. The surrounding area of beijing-tianjin-hebei region is the most concentrated area of China's API enterprises, with many enterprises of raw materials.
Chinese medicine enterprise management association ming-de yu told the China securities journal reporter, since November 2016, wuhan international exhibition API, the leading enterprises have an increase in the price of the product, or stop the quotation, wu goods stay up. During the Indian world medical materials exhibition in December 2016, many domestic enterprises were not quoted, and the trend of bullish trend was obvious. In addition, the main production areas of raw materials under the environmental pressure limit production limit, the foreign ministers of foreign ministers raised the price expectation, directly driving most of the restricted product prices floating.
According to the statistics of the financial data terminal of caihui financial data, the company announced that the production of the company has reduced the VC supply in the short term, and the price has been increased rapidly from 30 yuan/kg to 50 yuan/kg. The price increases are mainly due to rising costs and environmental regulation, but the long-term sustainability of price increases remains to be seen. Health net data show that the price of VC export at $4 / kg, small factory feed price is slightly lower.
In the recent price increase of erythromycin sulphate, the downstream erythromycin manufacturers raised the price. As of July 30, azithromycin has been quoted for 690 yuan/kg; Clarithromycin price: 1150 yuan/kg; The price of roxithromycin is 550 yuan/kg. It remains to be seen whether the price of this product will be recognized by the market. The initial price of erythromycin thiocyanin was 270 ~ 280 yuan/kg.
According to tianfeng medical data, the prices of the current three important intermediates of antibiotics - 6-apa, 7-aca and 7-adca - are 145yuan/kg, 345 yuan/kg and 290 yuan/kg respectively, at the bottom of the historical price range. Manufacturers have small profit margins, which can lead to supply contraction in the short term. Overall, antibiotics are expected to gradually emerge from the bottom of the price range.
To transform the performance into the downstream
The transformation of the original pharmaceutical enterprise to the downstream is an old topic in the industry. The old pharmaceutical companies huhai pharmaceutical and haizheng pharmaceutical have been transformed earlier and are being modeled by industry trees.
In the first half of 2017, the company's operating income was 23.53 billion yuan, according to China's semi-annual performance report for 2017. The net profit attributable to shareholders of listed companies was 295 million yuan, up 14.05% from the previous year. Between 2014 and 2016, the company's net profit attributable to shareholders of listed companies was 260 million yuan, 440 million yuan and 500 million yuan. In 2014, haizheng's operating income was 10 billion yuan, 8.7 billion yuan and 9.7 billion yuan respectively.
Hotaru think age strategy consulting firm consultant door, more concentrated in the intermediates, active pharmaceutical ingredients industry in China has not formed a complete industrial chain, still lack of competitiveness in the international market, this is also our country pharmaceutical enterprise in the international market price wars and capacity expansion of the road of root cause. With increasing environmental pressure, API enterprise development the same way is constantly changing, low value-added before and at the expense of the environment management pattern is no longer suitable for today API development of enterprise. API enterprises must realize the "to the downstream products is the ultimate way out", API intermediates, not only to continue to do more to do preparation, especially the preparation to the international market extension of the generic drugs.
"In fact, most of China's raw materials are used for export, and the overall output exceeds demand. The transformation and upgrading of enterprises is not only a need to reduce environmental pressure, but also a long-term development need." It is believed that the original pharmaceutical enterprises have a strong front-end research and development capability, which makes it easier to transition to the preparation.
Take haizheng pharmaceutical co., LTD. As an example, the company's API is mainly anti-tumor drug and its research and development capability is strong. In the preparation area, anti-tumor drugs are also scarce. The transformation and upgrading of haizheng pharmaceutical industry is to strengthen the preparation technology and research and development capabilities in the development of the raw material medicine, control the synthesis technology of the more scarce varieties in the upstream, and actively explore the downstream.
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