Domestic Contrast Agent "Big Three": Financial Analysis of Hengrui Medicine, Beilu Pharmaceutical and Sitali
According to Newport Premium, the global market for contrast media in 2012 was $3.908 billion. The United States is the world's largest consumer of contrast media, accounting for 32.39% of the global total of the contrast media market, followed by Europe and Japan. The main domestic companies for contrast agents include Hengrui Medicine, Beilu Pharmaceutical and Sita Li. This paper mainly compares the operation status of the contrast agents in these three companies.
Hengrui Medicine
Hengrui Medicine is well known for its strong tumor products, and the contrast agent business seems to be less concerned with the oncology business. However, if you look at the annual report of Hengrui in the past few years, you will have a better understanding of Hengrui's equally strong contrast agent business.
The 2007 annual report mentioned the need to promote ioproxol (first mention of iodophor)
The 2008 annual report mentioned the promotion of non-anti-tumor drugs, and further optimized the product sales structure to promote iodine alcohol.
The 2009 annual report again mentioned the promotion of iodulol
In the 2010 Annual Report, it was mentioned that the product sales structure was further optimized to promote the promotion of iodulol, and the production of iodixanol was obtained. At the same time, the new contrast agent workshop was basically put into use. The non-raised funds project showed that the contrast agent workshop invested 44.59 million. , project progress 91%
The 2011 annual report disclosed that the growth of contrast agents was over 80%. On-time completion of the iodonolol workshop transformation effectively relieved the pressure on production capacity. The use of non-raised funds showed that the contrast agent workshop invested 13.97 million, and the project progress was 100%. (It can be seen that the sales of iodophor and iodixanol in the past few years are growing rapidly, and the contrast agent workshop project is completed in 2010. Then in 2011, I upgraded the upgrade workshop)
The 2012 report disclosed that the growth of contrast agents was over 40%.
In the 2013 annual report, the growth of contrast agents was disclosed to be more than 40%, and a number of new products such as iodine alcohol were expanded to be sold in the international market.
Contrast agent growth in the 2014 annual report was 42.1%
The 2015 annual report disclosed that the market share of contrast media was among the best in the industry. The sales of products reached 1.0.0574 billion yuan, up 33.48% from the previous year, with a gross profit margin of 67.16%, an increase of 4.62%.
Hengrui Iodine Alcohol Injection (6 categories) belongs to the National Basic Medical Insurance, Work Injury Insurance and Maternity Insurance Drug List. Bismuth glucosamine bulk drugs (class 3.1) and injections (class 6) have been approved for clinical use, mainly for nuclear magnetic resonance examination of brain and spinal lesions and other systemic pathological examinations (including angiography).
Hengrui only disclosed the sales of contrast media in 2015, and only disclosed the growth rate in other years. The sales of 2011-2014 sales were reversed as follows:
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