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With a compound annual growth rate of only 2.6% over the past five years, China's top 100 pharmaceutical companies are entering an adjustment period. How will the industry break through under internal and external pressures?
According to the data from China Meheco Group, in 2023, multiple operation indicators of the pharmaceutical industry's leading companies have declined. The compound annual growth rate of the top 100 pharmaceutical companies in the country in the past five years is only 2.6%, and the industry as a whole has entered the adjustment phase from the initial high-speed growth. Behind the weak growth, the health industry is also undergoing transformation: overseas licensing trades for innovative drugs have reached a new high, and leading companies are accelerating outward expansion...
Founder Securities: the revenue growth rate of the pharmacy sector slows down, and the concentration is expected to accelerate.
The individual account reform of medical insurance has led to a decrease in personal account income, affecting pharmaceutical sales and pharmacy business relying on individual account payments. In 2023, pharmacy medical insurance personal account expenditures decreased by 9%, and this trend is expected to continue in 2024.
Is the chain of pharmacies entering a "mini ice age"? H1 growth rate "downgrades", the industry's high-growth stores may reach turning point.
① The growth rate of sales revenue of all categories in retail pharmacies has slowed down, and the competition in stock continues to intensify. In the first half of this year, it was difficult for major chain pharmacies to increase revenue and profit. ② In the future, the focus of pharmacy competition will shift to commodity extension and services. According to the prediction of Zhongkang Industry Research Institute, the growth rate of pharmaceuticals in all end terminals in 2024 is expected to decrease to 4.9%, a decrease from 2023.
Will you be eliminated if you don't go overseas? In the first half of the year, the proportion of innovative drug outbound business development accounted for about 80% | Industry Dynamics.
①At the 2024 New Investment Conference hosted by Frost Sullivan, the issue of going global was favored by participants. ②There is a new trend in the export of innovative drugs in China, for example, the number of export BDs exceeded License-in for the first time in 2023. ③Some participating experts put forward rational opinions and called for internal strength, not just enthusiasm.
Enter the field of cosmetics, pay attention to the marginal changes and value enhancement behind the expansion of pharmaceutical industry B (9939.HK)
Currently, the innovative drug industry is still experiencing a cold winter moment, and the fundamental relief of the 'water shortage' dilemma has not been achieved. Many companies have to make difficult decisions such as selling pipelines and selling equity. In this stage, how can innovative drug companies break through? Recently, Kaituo Pharmaceuticals released its 2024 mid-year financial report, with a significant reduction of 66.3% in net losses in the first half of the year, and a year-on-year decrease of 76.1% and 33.8% in research and development costs and administrative expenses respectively. At the same time, the company's cash and cash equivalents as well as time deposits are about 34 billion yuan, with ample cash on hand. Through the financial report, it can be seen that as a company that has been deeply cultivating the field of innovative drugs for many years.
Kaituo Pharmaceuticals-B (09939.HK) announced its interim performance with a significant reduction in losses. It is expected to launch seven cosmetics in 2024.
Kaituo Pharmaceutical -B (09939.HK) announced that for the 6 months ended June 30, 2024, the company's net loss decreased by RMB 140.6 million or 66.3% to RMB 71.5 million, compared to RMB 212.1 million in the same period of the previous year. The decrease in this loss was mainly due to a reduction in group research and development costs and administrative expenses.
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