OTC medicine, home medical equipment industry as a whole was boosted by the market
On the 7th, the "Key Implementation Plan for the Reform of the Medical and Health System (2009-2011)" (hereinafter referred to as the "Program") was officially announced. The industry believes th...
On the 7th, the "Key Implementation Plan for the Reform of the Medical and Health System (2009-2011)" (hereinafter referred to as the "Program") was officially announced. The industry believes that compared with the "Opinions", the program has a very detailed refinement of the basic drug system and public hospital reform, which is similar to expectations. The generic medicine and medical device industry will benefit from the overall medical reform. For the pharmaceutical circulation industry, the leading regional pharmaceutical circulation industry will gain an advantage in the “merger and reorganization” of the industry.
In addition, Yi Jingjun, a researcher at Guotai Junan, believes that the regulation of the “Basic” on the management of basic medical insurance funds means that the government will pay close attention to “financial implementation”, which will prompt the “real gold and silver” of financial investment to fall into relevant industries and companies. Go, but the specific industry, the company's degree of benefit depends on the publication of the basic drug list and the guidance price.
Distribution companies will take the lead in integrating within the province
The "Proposal" mentioned: "To give full play to the role of the market mechanism, promote mergers and acquisitions of pharmaceutical production and circulation enterprises, develop unified distribution, and achieve scale operations."
Zhou Mingjie, a researcher at CITIC Jiantou, believes that the regulation will become a “pushing hand” for the accelerated integration of listed companies in the pharmaceutical circulation category. It is expected that the circulation enterprises will take the lead in improving the concentration by the provinces, because the tenders for pharmaceutical circulation enterprises are held at the provincial level. Therefore, pharmaceutical distribution companies with regional advantages will have an integration advantage.
The plan also proposes that “the basic drugs with less dosage can be produced by tendering.” In the opinion of analysts, this regulation may bring monopolistic benefits to exclusive drugs that are not very large, because fixed-point production means the company does not have to Worry about sales. Zhou Mingjie believes that some exclusive Chinese medicine varieties are likely to enjoy this benefit, such as unique taste.
The overall sales of the world medical device market is good, and the Chinese market is still expected to maintain a growth rate of more than 10% this year.
According to the committee's statistics, the global market for medical device products last year was about 336 billion US dollars, an increase of 12%, and sales accounted for about 50% of the total sales of the international pharmaceutical market. The committee predicts that the purchase of large-scale instruments in Europe and the United States may drop sharply this year, while the sales of medical devices in China, Japan and India account for about 70% of the total sales in the Asian market. The Chinese market is still expected to maintain a growth rate of more than 10%. . The growth rate of a large number of small equipment such as home medical equipment, rehabilitation equipment, physiotherapy equipment, magic lamp treatment equipment, etc. has been significantly improved.
General medicine is boosted
The "Proposal" put forward specific standards for "improving the construction standards of township hospitals and community health service centers": "In 2009, fully completed the construction of 29,000 township hospitals supported by the central planning, and then supported the renovation and expansion of 5,000 central towns and towns. Health centers, 1-3 in each county."
Wang Hao, a researcher at Great Wall Securities, believes that the improvement of the construction of primary health institutions will directly drive the growth of demand for generic drugs and medical devices. Among them, listed companies of basic medical devices will benefit significantly, such as Yuyue Medical and Wandong Medical.
Wang Wei believes that the vaccine business and diagnostic reagent products will also benefit from medical reform. The main listed companies include biomedical listed companies such as Tiantan Biological, Kehua Biological, and Daan Gene.
Zhou Mingjie believes that medicines in the fields of diabetes and cardiovascular disease will also be stimulated. Shuanghe Pharmaceutical, Huadong Medicine, Tonghua Dongbao and other companies all have diabetes treatment products, and the cardiovascular disease treatment products of Hengrui Medicine and Shuanghe Pharmaceutical are more prominent.
The "Proposal" also mentioned "encouraging private capital to hold non-profit hospitals". Zhou Mingjie said that in the future, private hospitals will usher in development opportunities. It is worth noting that the holding company of a private hospital, Chengzhi, and the dental dental chain business. Listed companies use the policy.