Under the pandemic, many COVID-related concept stocks have ridden on the wave, and sectors related to COVID's industrial chain, such as testing, drugs, and vaccines, have also seen significant growth. What is the current market situation? And which investment opportunities are worth paying attention to?2022year5month27On the day, the third session of the Big Health Cloud Afternoon Tea, organized by the New Shanghai Business Medical Industry Sub-association, was successfully held. The theme of this event was 'Investment Strategies and Layout in the COVID-19 Industrial Chain'.
Frost & SullivanFrost & SullivanMao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend and delivered a speech on the current market situation and development trends of COVID-19 vaccines.
Mao Hua said that the global COVID-19 situation remains severe, with domestic outbreaks occurring at multiple locations. New strains are emerging with stronger immune evasion and transmission rates. The new wave of spread has intensified the urgent need to increase vaccine coverage and iterate vaccines. It is difficult to eliminate the novel coronavirus in a short period. Establishing a herd immunity barrier through vaccination, slowing down the rate of virus mutation, and protecting high-risk groups are the most effective measures to deal with the normalization of the epidemic.
The main technical routes for COVID-19 vaccines globally are showing a parallel trend with multiple approaches. Among them, the development of four vaccine types is progressing most rapidly, namely Inactivated vaccines, viral vector vaccines, recombinant protein vaccines,mRNAvaccine , bringing more possibilities to the vaccine selection for recipients. The vaccines already on the market in China use inactivated vaccines, viral vector vaccines, and recombinant protein vaccines, with heterologous technologiesmRNAThe domestic research and development of the vaccine is still in the clinical stage, and it is expected to fill the current gap in this type of vaccine in China.
To meet the urgent needs of epidemic control, the development of COVID-19 vaccines has been proceeding at an unprecedented pace in vaccine history. According to Mao Hua, under normal circumstances, the development process of a vaccine is long, typically taking from antigen identification to market launch.10 - 15A year, while the COVID-19 vaccine has only been in use1Less than a year. "The multi-stage acceleration and upgrade during development has facilitated the rapid market launch of vaccines, and the feasibility of efficient development will fully mobilize enterprises' enthusiasm for innovation," said Mao Hua.
The vaccine industry chain is vertically integrated, involving multiple fields. It is characterized by wide coverage and numerous processes. The COVID-19 pandemic has driven rapid development in industries and enterprises with a high degree of association with the vaccine industry chain. Mao Hua believes that the high-end R&D and industrialization of vaccines in China still heavily rely on imports for key instruments, equipment, raw materials, etc. Achieving high-quality domestic substitution will ensure the autonomy and controllability of the entire vaccine industry chain, enhancing the stability and competitiveness of the vaccine industry chain. At the same time, the pandemic has promoted the overall development of the upstream and downstream of the vaccine industry chain: COVID-19 vaccine research and development are in full swing, with vaccines gradually coming onto the market and shipments increasing. This has driven demand for products such as cell culture media,CXOand related fields are developing rapidly.
Data shows that there are already38The COVID-19 vaccine has been approved. Among them, subunit vaccines account for the largest proportion.11Including vaccinesWHOGlobal List of Essential Medicines. Currently, China has7The COVID-19 vaccines approved for conditional marketing or emergency use are mostly inactivated vaccines. With mature technology and R&D production experience, the frequency of adverse reactions is relatively low.
Mao Hua pointed out that the COVID-19 pandemic has driven vaccine exports. Before the outbreak, China's vaccine export intensity was low. 2021In 2021, China's vaccine exports both in quantity and value increased significantly, with its COVID-19 vaccine exports ranking second globally. China has become the main supplier of COVID-19 vaccines to developing countries,The export targets are mainly low-income countries in Central Asia and Southeast Asia, as well as South America and North Africa.
In addition, the COVID-19 pandemic has changed the competitive landscape of pharmaceutical companies:mRNAVaccines have made their way onto the historical stage, with excellent protection rates. TwomRNAVaccine sales far exceed those of other COVID-19 vaccines.2021yearCormirnatyGlobal sales reached as high as410Billions of dollars, and Pfizer has also used this to become the pharmaceutical company with the highest drug sales.
According to a Frost & Sullivan survey, the global current situation is75country, targeted at199Vaccine candidates are being developed and rolled out704Phase clinical trial;37%Research products entering clinical trialsIIIPeriodically, traditional subunit vaccines account for the largest proportion, followed by newmRNAVaccine research and development is in full swing. China's pipeline of COVID-19 vaccines includes nebulized inhalation vaccines.mRNAVaccines account for the largest proportion, among which Aibo Biotech has made the most progress, with its product entering clinical trials.IIIIn the meantime, CanSino Biologics, which has already launched COVID-19 vaccine products, has also recently obtainedmRNAClinical approval document for COVID-19 vaccine.
Currently, global regulatory authoritiesFDA,EMA,NMPAPolicies have been introduced one after another, allowing COVID-19 vaccines to be approved for emergency use authorization or conditional marketing. Policy incentives and market demand will jointly drive breakthroughs in vaccine technology. "In the future, COVID-19 vaccines need to make breakthroughs in vaccine protection efficacy, long-term protection capabilities, and large-scale production capacity. Solving these challenges will further drive the vigorous development of the industry," Mao Hua concluded.
Subsequently, under the chairmanship of Dou Dan, co-founder and chairman of Shanghai Trace Investment Management Co., Ltd., Mao Hua, together with Li Bin, a specially appointed professor at the School of Medicine of Shanghai Jiao Tong University and deputy director of the Shanghai Institute of Immunology, Ye Feng, co-founder of Shanghai Xiading Investment Management Co., Ltd., and Ye Weitao, managing partner of Shanghai Lize Investment Management Co., Ltd., held a wonderful roundtable dialogue between scientists and investors focusing on three highly socially concerned issues: 'The scientific principles of viruses, the feasibility of vaccine drug research and development, and the socio-economic problems brought about by epidemic prevention measures.' 
