Policy for Industrial Innovation
At the 5th China Bioindustry Conference held on June 17-19, Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, revealed that the National Development and Reform Commission is working with relevant departments to compile the “Twelfth Five-Year Plan†for the development of national strategic emerging industries to strive for early approval. release. According to reports, during the “12th Five-Year Plan†period, China’s biopharmaceutical industry will achieve breakthroughs in key areas such as modern biomedicine and chemical innovation drugs.
From a global perspective, the focus of competition in the biopharmaceutical industry is mainly on new drug development capabilities and drug marketing. Due to the large investment in new drug development, long cycle, and large risks, domestic listed companies do not yet have the hardware and software environment needed to develop new compounds on a large scale. Compared with foreign countries, the competitiveness of China's biopharmaceutical companies is generally low, lacking the strength of long-term research and development and high investment. China's current annual examination and approval of new drugs in the modified dosage form and imitation still account for a large proportion, the proportion of innovative drugs is low. As of now, there are no chemical new drugs that can enter the international mainstream market; as a national essence of Chinese medicine, so far no one product has been sold to Europe and the United States. It is expected that during the “12th Five-Year Plan†period, a group of national major science and technology projects and the 863 Program will lead the innovation and development of the biomedical industry, and the “12th Five-Year Plan†for the scale of financial support for the development of major innovative drugs is expected to come from the “11th Five-Year Planâ€. During the period, 6.6 billion yuan was expanded to 10.5 billion yuan.
From the perspective of income, since 2003, the global biopharmaceutical market has grown at a rate of over 10%, while China's average annual growth rate has reached more than 25%, and it is still at the initial stage of large-scale industrialization. From the perspective of revenue growth, the growth rate of the pharmaceutical industry from 2007 to 2010 was 22.14%, 29.81%, 26.93%, and 30.55%, respectively, showing a gradual acceleration. Among them, due to factors such as the settlement of influenza vaccine, the sales revenue and profit growth rate in 2010 hit a record high. Due to the higher base figure in the same period of last year, the growth rate of revenue and profit from January to March this year slowed down, with growth rates of 21.71% and 5.73% respectively. It is expected that after the downturn of the beginning of the year, the income and profit growth of the biomedical industry will return to normal growth. With the increase in demand, investment in the industry is also heating up. In March this year, the total assets of the industry reached 135.457 billion yuan, an increase of 29.34% year-on-year, and the total asset size was 2.4 times that of May 2007. In the future, with the rapid growth of the national economy, a large population base and an ageing trend, the improvement of people’s living standards, and enhanced health awareness, under the joint promotion of various demand forces, it is expected that the output value of biomedicine will continue to grow at least 20% per year in the future. .
Export products gradually move toward high-end
In recent years, the export delivery value of the biopharmaceutical industry has maintained a stable growth trend. Even in the financial crisis in 2009, its export delivery value reached 9.9 billion yuan, an increase of 38.83% over the same period last year. According to the classification, in China's pharmaceutical bulk export commodities, the growth of western medicines and APIs is mainly reflected in the growth of export volume, and the average price increase of their exports is below 5%; while the growth of biochemical drugs exports is mainly reflected in the export prices. On the upswing, taking 2010 as an example, although its export volume has fallen by 63.33%, the average export price has increased by 303%, which has driven the export volume to increase year-on-year. The sharp increase in the average export price indicates that international demand is growing steadily on the one hand; on the other hand, it shows that the international market competitiveness of China's biochemical products has improved and gradually moved toward the high end.
Corporate profitability enhancement
In recent years, the “three fees†growth rate of the biopharmaceutical industry has been lower than that of income and profit, and the “three fees†accounted for a decreasing trend in sales revenue. Taking 2010 as an example, the revenue and financial, management, and operating expenses growth rates were 30.55%, 15.07%, 21.38%, and 22.02%, respectively, reflecting the good management and control capabilities of the industry companies. At the same time, they are also expanding and competing with the industry scale. It is increasingly related to external conditions such as the reform of the pharmaceutical system.
From the perspective of gross margins, the gross profit margin of the biopharmaceutical industry is relatively high and remains stable. It has stabilized at about 30% in recent years, which is related to the higher barriers in the industry. However, the interest rate of the biopharmaceutical industry is only 13% to 14%, which is at a relatively low level, which is mainly due to the proliferation of generic drugs in the biopharmaceutical industry and duplication of construction. As a result, the overall profit margin of the industry is not high. As the country supports the R&D and innovation of new drugs from both policies and funds, it will help promote industrial restructuring and restructure China's biopharmaceutical industry chain. In the future, China's biopharmaceutical industry will usher in an important opportunity for accelerating development and layout adjustment.
At the 5th China Bioindustry Conference held on June 17-19, Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, revealed that the National Development and Reform Commission is working with relevant departments to compile the “Twelfth Five-Year Plan†for the development of national strategic emerging industries to strive for early approval. release. According to reports, during the “12th Five-Year Plan†period, China’s biopharmaceutical industry will achieve breakthroughs in key areas such as modern biomedicine and chemical innovation drugs.
From a global perspective, the focus of competition in the biopharmaceutical industry is mainly on new drug development capabilities and drug marketing. Due to the large investment in new drug development, long cycle, and large risks, domestic listed companies do not yet have the hardware and software environment needed to develop new compounds on a large scale. Compared with foreign countries, the competitiveness of China's biopharmaceutical companies is generally low, lacking the strength of long-term research and development and high investment. China's current annual examination and approval of new drugs in the modified dosage form and imitation still account for a large proportion, the proportion of innovative drugs is low. As of now, there are no chemical new drugs that can enter the international mainstream market; as a national essence of Chinese medicine, so far no one product has been sold to Europe and the United States. It is expected that during the “12th Five-Year Plan†period, a group of national major science and technology projects and the 863 Program will lead the innovation and development of the biomedical industry, and the “12th Five-Year Plan†for the scale of financial support for the development of major innovative drugs is expected to come from the “11th Five-Year Planâ€. During the period, 6.6 billion yuan was expanded to 10.5 billion yuan.
From the perspective of income, since 2003, the global biopharmaceutical market has grown at a rate of over 10%, while China's average annual growth rate has reached more than 25%, and it is still at the initial stage of large-scale industrialization. From the perspective of revenue growth, the growth rate of the pharmaceutical industry from 2007 to 2010 was 22.14%, 29.81%, 26.93%, and 30.55%, respectively, showing a gradual acceleration. Among them, due to factors such as the settlement of influenza vaccine, the sales revenue and profit growth rate in 2010 hit a record high. Due to the higher base figure in the same period of last year, the growth rate of revenue and profit from January to March this year slowed down, with growth rates of 21.71% and 5.73% respectively. It is expected that after the downturn of the beginning of the year, the income and profit growth of the biomedical industry will return to normal growth. With the increase in demand, investment in the industry is also heating up. In March this year, the total assets of the industry reached 135.457 billion yuan, an increase of 29.34% year-on-year, and the total asset size was 2.4 times that of May 2007. In the future, with the rapid growth of the national economy, a large population base and an ageing trend, the improvement of people’s living standards, and enhanced health awareness, under the joint promotion of various demand forces, it is expected that the output value of biomedicine will continue to grow at least 20% per year in the future. .
Export products gradually move toward high-end
In recent years, the export delivery value of the biopharmaceutical industry has maintained a stable growth trend. Even in the financial crisis in 2009, its export delivery value reached 9.9 billion yuan, an increase of 38.83% over the same period last year. According to the classification, in China's pharmaceutical bulk export commodities, the growth of western medicines and APIs is mainly reflected in the growth of export volume, and the average price increase of their exports is below 5%; while the growth of biochemical drugs exports is mainly reflected in the export prices. On the upswing, taking 2010 as an example, although its export volume has fallen by 63.33%, the average export price has increased by 303%, which has driven the export volume to increase year-on-year. The sharp increase in the average export price indicates that international demand is growing steadily on the one hand; on the other hand, it shows that the international market competitiveness of China's biochemical products has improved and gradually moved toward the high end.
Corporate profitability enhancement
In recent years, the “three fees†growth rate of the biopharmaceutical industry has been lower than that of income and profit, and the “three fees†accounted for a decreasing trend in sales revenue. Taking 2010 as an example, the revenue and financial, management, and operating expenses growth rates were 30.55%, 15.07%, 21.38%, and 22.02%, respectively, reflecting the good management and control capabilities of the industry companies. At the same time, they are also expanding and competing with the industry scale. It is increasingly related to external conditions such as the reform of the pharmaceutical system.
From the perspective of gross margins, the gross profit margin of the biopharmaceutical industry is relatively high and remains stable. It has stabilized at about 30% in recent years, which is related to the higher barriers in the industry. However, the interest rate of the biopharmaceutical industry is only 13% to 14%, which is at a relatively low level, which is mainly due to the proliferation of generic drugs in the biopharmaceutical industry and duplication of construction. As a result, the overall profit margin of the industry is not high. As the country supports the R&D and innovation of new drugs from both policies and funds, it will help promote industrial restructuring and restructure China's biopharmaceutical industry chain. In the future, China's biopharmaceutical industry will usher in an important opportunity for accelerating development and layout adjustment.
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Ganzhou Green days Biochemical Technology Co., Ltd. , http://www.cn-gangdao.com