[Transfer] Large -scale pharmaceutical companies, dense adjustments

Source: Sai Bailan/Mu Zhi

01

Advanced by the collection, the accelerated transformation of pharmaceutical companies

With the arrival of the mid -year reporting season in 2022, the head pharmaceutical companies began to announce the transcript, of which the impact of the collection is still the keywords that cannot be ignored.

针对营收（102.28亿元）、净利润（20.09亿元）同比均降20%以上，恒瑞表示，集采之下仿制药收入断崖式下跌、多款创新药执行新的医保谈判价格，以及The domestic epidemic has caused its product sales, leading to a significant decline in income.

In addition, the factors affecting Hengrui's profits also include: the continuous rise in the main raw and auxiliary materials and energy prices, the continued rise in logistics costs, and the continued increase in R & D investment.

Indeed, Ji Cai broke the traditional volume and price growth boundary, and the sales it released may not be able to offset the impact of price reduction.

The original market share and a variety of heavy drugs can also resist some impacts. Many small and medium -sized enterprises are already facing life and death examinations.

In this context, the influence of hedging collection, finding new profit growth points, focusing on innovation research and development have become an important path for heads of head pharmaceutical companies.

On August 23, the 2022 mid -term performance report released by Chinese biopharmaceuticals showed that new products, innovative drugs, and tumor drugs have become its second growth curve, which effectively hedames the impact of the first three batches of collection -of which, new products have been listed in the past 5 years. 84, the income accounts for 43.5%

Chen Pengzheng, chief strategic officer of Zhongsheng Pharmaceutical, told Sai Bailan that the previous rounds of collection have been included in the variety of enterprises with a certain market volume. If further the collection of collection is followed, the middle student is expected to be included in some will be some. Bare -footed varieties, these barefoot varieties enter the collection, and the enterprise will be less influenced, but it is expected to quickly open the product market by collecting collection.

The pressure of hedging collection has become one of its business goals in recent years.

The performance report of the middle student shows that in the past five years, the investment and proportion of middle school pharmaceutical research and development have increased year by year. In the first half of this year, R & D investment was 2.19 billion yuan, an increase of 16.5%year -on -year It reached 69.4%, and the amount of investment increased by 21.6%year -on -year; the proportion of R & D investment in innovative drugs and biopharmaceuticals exceeded 73.7%, and the investment amount increased by 51.4%year -on -year.

Xie Chengrun, the new CEO of Zhongsheng Pharmaceutical, said, "In the establishment mechanism of the R & D pipeline, in the past, it was more innovative medicines that were made of imitation pharmaceuticals and high -profile. Adjust, focus more on innovation. "

Xie Chengrun introduced that the R & D investment of Zhongsheng Pharmaceutical Innovation Drugs and Imitation Drugs has been adjusted from 50 to 50 in the past to now more than three -quarters of innovative drugs. Fast and accurate. "

The role of innovative drugs on performance has also begun to appear -the total income of innovative drugs was 3.49 billion yuan, and the revenue proportion was 22.9%, an increase of 14.2%year -on -year. The semi -annual report also disclosed that its revenue of innovative drugs in 2023 will exceed 10 billion yuan.

According to the innovative transformation plan of the middle student, the proportion of innovative drugs in income will gradually increase. In the end, in 2030, the target of 60%of innovative net revenue will make innovative drugs the main profit point.

At the mid -term performance conference and the first investor day in 2022, Chinese biopharmaceuticals said that in 2030, the target ranks among the top 30 pharmaceutical companies in the world with revenue of 100 billion yuan. Four major treatment areas.

Increasing the proportion of innovative drugs has become the core breakthrough strategy of pharmaceutical companies under the impact of a series of policies.

In recent years, the innovative R & D investment of local pharmaceutical companies has continued to rise -among them, the average annual growth investment of enterprises above large -scale enterprises has increased by about 8%. In 2020, the proportion of listed companies' R & D expenses accounted for more than 6%of sales revenue.

In fact, in addition to the increase in the proportion of R & D investment and innovative drug revenue, Hengrui, Coron, Four Ring Pharmaceutical and other domestic enterprises have reported the news of shrinking generic pharmaceutical pipelines and even suspending the development of general generic drug development. At present, the first imitation, difficult, and high -end imitation varieties are already the focus of head players.

02

Adjust the architecture and integrate resources

While the investment in R & D expenses increases, the decline in sales and management costs has become a general trend.

The semi -annual report of Zhongsheng Pharmaceuticals shows that sales and management costs have decreased by 1.6%year -on -year, and the cost has maintained a trend of 5 years. It stated that it is shifting from heavy sales to re -research.

Since this year, Zhongsheng Pharmaceutical has established four strategies: "organizational integration, comprehensive innovation, digitalization, and internationalization".

Throughout the industry, whether it is domestic pharmaceutical companies or multinational pharmaceutical companies, organizational integration and digitalization have become universal measures, and innovation and internationalization are the core problems of domestic pharmaceutical companies.

Xie Chengrun said that Zhongsheng Pharmaceutical will promote operational reform around R & D efficiency, production efficiency, marketing efficiency, management efficiency, cultural construction, etc., and continue to reduce costs and increase efficiency.

Among them, Xie Chengrun particularly emphasized the improvement of research and development efficiency. It said that the middle students will further integrate the resources of Chinese biopharmaceuticals and subsidiaries.

For example, Zhongsheng led to invest in hundreds of creatures and introduced new drugs of uplifting tumors. Strengthen the layout of the pipeline of member company Ted.

As for the improvement of marketing efficiency, it is mainly to integrate the commercial team and realize the sharing of marketing resources at the middle level. Specific measures also include the simplified form of academic conferences, reducing the cost of collecting products, and paying attention to the annual output per capita. According to the public data from the middle school, it currently has a professional commercial team of about 8,000 people, a strategic support team of more than 300 people, covering over 1,200 cooperative commercial companies, over 27,000 hospitals, about 180,000, about 180,000 Pharmacy, about 140,000 grass -roots medical institutions.

The research and development and sales investment of contraction of generic drugs, integrating resources and adjusting the structure is already an industry trend.

In the 2021 report released in April this year, Hengrui Pharmaceutical mentioned that the sales reform was vigorously promoted, the organizational structure was integrated and effective, the regional level architecture was revoked, the provincial and districts and offices of the provincial and regional and offices were greatly reduced, and the sales operation and marketing finances were integrated. , Support department functions. Simplified sales staff, the sales staff is optimized from 17,138 at the beginning of the year to 13208.

A pharmaceutical company practitioners told Sai Bailan: "After implementing the collection of collection policies, the profits of generic drugs have decreased. In the research and development, the sales team is almost irreversible. "

The new architecture adjustment and personnel appointment show a characteristic, that is, the business with low consolidation and consolidated profits, focusing on the development of innovative drugs, on the one hand, streamlined personnel and expenditure, and embracing digitalization on the other hand, in order to accelerate transformation and upgrading, improve the market to improve the market Competitiveness.

Some experts told Sai Bailan: "With the continuous deepening of the collection, the new pattern has been gradually established. In the past, the days of lying on money will not come back, seize new opportunities, strengthen investment in research and development, create more Reasonable personnel architecture. In the long run, there may be world -class pharmaceutical companies in China. "

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