Medical network August 3 the chemical fire the small metal fire, little metal fire the API fire... In 2017, a wave after wave of price increases, finally to the medical field, this time it is the raw material medicine.
The price of raw materials has been ferocious
Raw material medicine is used to produce all kinds of preparation of raw material medicine, it is the active ingredient in the preparation. The pharmaceutical raw material medicine manufacturing industry is one of the eight subsectors of China's pharmaceutical industry.
According to the completion status of major economic indicators of pharmaceutical industry in 2016 released by the ministry of industry and information technology, the total profit of enterprises in China's pharmaceutical industry in 2016 increased by 15.6%, while the pharmaceutical industry grew 25.9%. In the case that the main business revenue growth is lower than the industry as a whole, the profit growth of the original pharmaceutical company is running ahead of the industry. Obviously, the price factor is important.
Total profits of pharmaceutical industry in 2016 (chart/ministry of consumer products industry division)
According to media reports, the recent raw material medicine is starting a new wave of price increases, the price of some of the raw materials is obviously raised, especially the vitamin products, the price increase is most obvious.
In the case of vitamin C for feed use, business data showed that the price of vitamin C was 5.32 million yuan per ton on May 1, and the price of July 11 daily was 6.36 million yuan/ton, which was up nearly 20 percent in two months.
An important reason for the increase in the price of raw materials is the increasing rigor of environmental policy.
BBS you understand, in recent years, the ministry has been released six for the pharmaceutical industry standards for pollutants discharge, on the different types of pharmaceutical enterprise has made the different period and region, pollution emission factors, such as restrictions, and increases the environmental protection standard of pharmaceutical intermediates.
Unfortunately, the characteristics of API and intermediate manufacturing industries are high energy consumption and high pollution. Companies that fall short of environmental standards may even be forced out of the market.
Back in November, the main domestic production base for active pharmaceutical ingredients in shijiazhuang, require all the pharmaceutical companies in the city because of pollution, several important API manufacturing enterprises "innocent" misfortune. At the time, it was expected that the price of raw materials would come sooner or later.
It's not. The price is up.
Some of the new third board companies net profit doubled last year
Price increases are a good thing for manufacturers.
Recently, a number of listed vitamin companies published the semi-annual report, performance a brighter than a bright eye. For example, northeast pharma expects first-half net profit to increase 1106% to 115%, an important reason is that its leading product vitamin C price increases.
Indeed, starting last year, some of the raw drug varieties have experienced a rally. It is clear from the annual report of several new three board API companies that the market has already made a lot of money.
The most obvious benefit is the jade star biology, which specializes in the development, production and sales of vitamin B12 products.
In 2016, the revenue of yuxing bio-realized revenue of 891 million yuan, up 73%. Net profit of 229 million yuan, up 110%. Its net profit was second in the new three - board API, second only to the pharmaceutical industry.
A big reason for such a rapid rise in net profit is the rise in the price of vitamin B12. According to the annual report, sales of vitamin B12 products in 2016 rose 24% year on year, and the sales price rose 12% year on year, and the gross profit margin of the products increased significantly.
Similarly, jinwei pharmaceutical co., LTD. Is mainly engaged in the production and sales of vitamin B12 and feed additive vitamins.
In 2016, jinwei pharmaceutical's operating income was 306 million yuan, up 38 percent. Net profit rose 62 percent from 5.42 million yuan in 2015 to 81.86 million yuan. The increase in vitamin prices has also contributed.
Sales of its main product, vitamin B12, rose nearly 14 percent in 2016, and the price of the vitamin B12 series rose 17 percent from a year earlier, according to the company's annual report.
In addition to vitamins, the price of some of the raw materials has increased, so companies have benefited. For example, the price of calcium gluconate in the pharmaceutical industry has increased, so that the sales revenue has increased greatly in the same situation.
According to the statistics of BBS, there are 63 companies in the new third board which are main business of raw materials and intermediates. The 2016 annual report showed that 12 of the companies with a doubling of net profits, with the highest growth rate of rehbon pharmaceuticals, grew by 529 per cent. More than half of the companies, net profit growth significantly exceeded revenue growth.
Not all raw drug companies will benefit
In fact, some companies have pre-judged the price of raw materials. For example, the annual report of the kangle pharmaceutical industry pointed out that the domestic market has been rising since November 2016, and the price of acetaminophen has become warped and the trend of rising has been shown.
With the obvious cyclical difference in the price of small metal, the pharmaceutical industry is stable and there is no obvious industry periodicity. Coupled with a tightening of environmental policies, analysts say the price hike could last a year.
So which companies are most likely to benefit from the new third board?
According to BBS jun statistics, the present new three board 63 main business for the manufacturing of active pharmaceutical ingredients chemical enterprises, of which intermediates (upstream of active pharmaceutical ingredients) as the main business of 31, 32 is given priority to with active pharmaceutical ingredients, list as follows:
Data source: Choice
There is a wide variety of raw materials, not all prices of the products are bullish, some products are even lower, so not all raw drug companies will be able to enjoy a higher dividend.
For example antibiotic API, current capacity serious surplus, price also has been running for years low. In the production of raw materials, yitai pharmaceutical, the new product clindamycin alcohol, hydrochloric acid lincomycin B series, the price of products in 2016 has declined, only a small amount of gross profit.
In addition, the industry chain of China's API industry is still being extended and improved, and some enterprises, mainly pharmaceutical intermediates, are trying to expand the raw material medicine. For example, pioneer technology says that the company is focusing on product restructuring and upgrading from pharmaceutical intermediates to pharmaceutical API.
And the enterprise, which is dominated by API, is also exploring the way to expand downstream. On July 31, it was published on the official website of immanuel Kant, which merged the pharmaceutical company with the pharmaceutical pharmaceutical division. After the merger, the industrial chain of the pharmaceutical industry will be extended to downstream preparations. |
