Recently, Wantai Biotech announced its third-quarter report, with revenue and net profit hitting new highs since the company went public. Regarding the reasons for the double increase in revenue and net profit, Wantai Biotech stated that it was mainly due to an increase in revenue from bivalent cervical cancer vaccines, reagents, and active ingredients.
this year8Month, Merck Sharp & Dohme's 9-valent Human Papillomavirus Vaccine (Yeast)-based Vaccine (hereinafter referred to as '9-valentHPVThe new indication of "vaccine" has been approved by the National Medical Products Administration of China, expanding the applicable population to9 - 45Women of childbearing age. In addition, domestic 9-valentHPVThe vaccine is also on the verge of being launched, nine-valentHPVWill the vaccine affect domestically produced bivalent vaccines?HPVVaccine market share? Frost & SullivanFrost & SullivanChen Zhenrong, consulting director for healthcare in Greater China at Frost & Sullivan (referred to as 'Frost & Sullivan'), was interviewed by Lanjing Finance to discuss the above issues.
Blue Whale Finance
10month17On the evening of the same day, Wantai Biotech announced its third-quarter report. Revenue and net profit for the first three quarters reached new highs since the company went public, among which revenue86.51Yuan, a year-on-year increase140.56%Non-recurring profit after deducting impairment losses38.5Yuan, a year-on-year increase233%.
For the single quarter, revenue for the third quarter27.21Yuan, a year-on-year increase66.71%Net profit attributable to the parent company12.5Yuan billion, a year-on-year increase168.03%Net profit attributable to the parent company after deducting non-recurring gains and losses11.98Yuan, a year-on-year increase159.21%.
Regarding the reasons for both revenue and net profit growth, Wantai Biotech stated that it was mainly due to an increase in income from bivalent cervical cancer vaccines, reagents, and active ingredients.
It is worth noting that this year8Month, Merck Sharp & Dohme's 9-valent Human Papillomavirus Vaccine (Yeast)-based Vaccine (hereinafter referred to as '9-valentHPVThe new indication of "vaccine" has been approved by the National Medical Products Administration of China, expanding the applicable population to9 - 45Women of childbearing age. In addition, domestic 9-valentHPVThe vaccine is also on the verge of being launched, nine-valentHPVWill the vaccine affect domestically produced bivalent vaccines?HPVVaccine market share?
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divalentHPVVaccine production and sales are booming
Although, the third-quarter report of Wantai Biotech did not disclose detailed sales or batch release information for this vaccine.
However, Huaxi Securities pointed out in its research report that, according to the data of approval and issuance by the China Inspection and Quarantine Administration,2022yearQ3 quarterWanTai Biotech BivalentHPVVaccine Batch Release Appointment76Batches, expected and estimated, approximately750 - 800Ten thousand.2022yearQ1-Q3 quarterWanTai Biotech BivalentHPVThe estimated batch release volume of vaccines is about2050 - 2150Ten thousand.
this year5In January, Wantai Biotech once stated that its bivalentHPVThe annual vaccine production capacity reaches3000Ten thousand pieces.2021Year, its second priceHPVVaccine sales exceeded1000Ten thousand pieces.
That is to say, relative to2021In [year], the current bivalent of Wantai Biology isHPVThe estimated batch release volume of vaccines has doubled, with rapid growth.
"DomesticHPVThe vaccine is still in a state of unbalanced supply and demand, with Wanta Biotech's bivalent vaccineHPVVaccines are currently in a state of strong production and sales. The company's production and batch issuance rhythm is proceeding smoothly, with an expected2022yearQ4 2019Company's Second-tier PriceHPVVaccines will continue to see significant volume growth." The research report from West China Securities points out.
According to a research report by Guosen Securities, domestically9The year is coming45Approximately3.6hundred million(Approximately1.2hundred million), from2017Domestic introduction in the current yearHPVSince the launch of the product, the total number of batches issued is approximately6500Ten thousand, discounted2000Ten thousand people, with an overall penetration rate of about5.5%The penetration rate of women of childbearing age in cities is about16.5%)At a low level.
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Nine-valentHPVWill the vaccine affect domestically produced bivalent vaccines?HPVVaccine market?
Public information shows that Wantai Biotech was established in1991year,2020year4The company is listed on the Shanghai Stock Exchange, and its bivalent cervical cancer vaccine 'Xinkening' is available2019Approved for marketing at the end of the year, it is the first domestically produced cervical cancer vaccine and has become the company's star product. "Xinkening" is applicable to9 - 45female,15 - 45annual vaccination3needle9 - 14annual vaccination2needle, is the first domestic9 - 14Approved2Cervical cancer vaccine product using acupuncture techniques.
this year8Month, Merck Sharp & Dohme's 9-valent Human Papillomavirus Vaccine (Yeast)-based Vaccine (hereinafter referred to as '9-valentHPVThe new indication of "vaccine" has been approved by the National Medical Products Administration of China, expanding the applicable population to9 - 45Women of childbearing age.
Previously, nine-valentHPVThe applicable population for the vaccine is16 - 26Female, aged 9. With nine-valentHPVThe approval and supply of expanded age-range vaccines are gradually increasing. Some market participants are concerned whether this will affect domestic bivalent vaccines.HPVThe vaccine market?
In this regard, Chen Zhenrong, consulting director for healthcare in Greater China at Frost & Sullivan, pointed out that the domestic 9-valent vaccineHPVAfter the vaccine is launched, for domestic bivalentHPVThe market for vaccines will be affected to some extent, with some consumers who have economic power and a higher pursuit of vaccine effectiveness choosing to receive domestic nine-valent vaccines.HPVVaccines. However, this impact will not be significant, as the consumer group targeted by the bivalent vaccine is different from that of the nine-valent vaccine, and currently, the overall situation in our countryHPVThe vaccination rate remains low and has not yet entered a state of full competition.
As of now, domestically listed in ChinaHPVVaccines in total5The drugs are valacyclovir and ganciclovir, each in the bivalent formHPVVaccine, Merck's QuadrivalentHPVAnd nine pricesHPVVaccine, Wantaibio's bivalentHPVVaccine and Watson Biotech BivalentHPVVaccines, with the last two being domestic Chinese companies. ZF Bio is Merck's quadrivalent vaccine.HPVAnd nine pricesHPVExclusive domestic distributor of vaccines.
Due to different pricesHPVPreventable with vaccinesHPVThe number of subtypes varies, and so do the price differences. Domestic bivalentHPVThe price of a single vaccine dose is about300Yuan, import at a discounted rateHPVThe price of a single vaccine dose is about600Yuan, imported quadrivalentHPVThe price of a single vaccine dose is about800Yuan, imported 9-valentHPVThe price of a single vaccine dose is about1300yuan.
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Chen Zhenrong pointed out, bivalentHPVVaccines have a good preventive effect against cervical cancer. Considering their relatively low cost, domestically produced bivalent vaccines are currently availableHPVThe vaccine has been piloted in some provinces and cities of our country, providing free vaccinations to eligible women. In the future, it may also be included in the national immunization program or covered by medical insurance. That is, bivalentHPVVaccines provide basic protection against cervical cancer and are cost-effective, making them an economical choice. Nine-valentHPVThe vaccine further enhances the protection against cervical cancer based on the bivalent formulation, offering prevention90%Cervical cancer, and can also prevent low-riskHPVGenital warts caused by subtypes. However, considering the 9-valent vaccineHPVThe higher unit price of the vaccine, 9-valentHPVVaccines are considered an improved option compared to bivalent vaccines and are more suitable for individuals with a certain economic foundation and demand for vaccination.
"At present, our countryHPVThe vaccination rate remains low, and a large number of eligible women have not received any vaccinations at allHPVvaccines. Therefore, for now, improving the public's awareness ofHPVThe awareness and vaccination rate of vaccines are more important." Chen Zhenrong reminded.
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Domestic 9-valent vaccineHPVThe vaccine is about to be released
In fact, the domestic 9-valentHPVVaccines are also on the verge of being launched, under the brands of Watson Biotech, Wantai Biotech, Shanghai Bowei, Kangle Weishi, and Ruike BiotechHPVThe nine-valent vaccine has entered phase III clinical trials.
this year9month27On the same day, Wantai Biotech said in an investor relations event that the company's nine-valentHPVThe research and development progress of vaccines is at the leading level in China, currentlyIIIPhase I clinical trials and industrialization are progressing smoothly. Nove-valentHPVThe subjects of the vaccine have completed three doses of vaccination and are currently under follow-up according to the clinical protocol, with data collection underway.12Among the continuously infected cases for [X] months; with JiaDaXiu9The head-to-head clinical trial has completed on-site testing and specimen analysis, and data statistical analysis is underway; the small-age bridging clinical trial has completed enrollment; commercial production workshops have been built, and industrial scale-up production research is in progress.
For domestic 9-valent vaccinesHPVWill the vaccine's launch affect domestic bivalent vaccines?HPVThe vaccine market?
Wantedai Biology9month27On the 28th, Ruihui replied to a question by saying, 'Nine-valentHPVThis situation can occur after vaccines are launched. ChinaHPVThe vaccine market is large enough, but limited by various factors, bivalentHPVThere is still a large market space for vaccines.
"First, there are nine valences."HPVVaccine manufacturing processes are more complex, and production capacity cannot expand rapidly; secondly, from the perspective of cervical cancer prevention, in our country approximately84.5%Cervical cancerHPV16and18Type-related, in responseWHO 2030 AgendaGlobal Strategy to Eliminate Cervical Cancer by the Year 2030, at Nine DosesHPVWhen vaccine production capacity cannot meet requirements, bivalentHPVVaccines are a key focus of government procurement; thirdly, the company is actively exploring overseas markets, in addition toHPVIn addition to exporting vaccine finished products, efforts are also being made to promote technology transfer. "WanTai Biotech said.
*This article is reprinted from Blue Whale Finance. Reporter: Tu Jun Original title: Is the impact of the "age extension" of the nine-valent vaccine limited? Wantai Biotech's performance in the first three quarters hit new highs. ">
