11month13On [date], the 'Chinese Clinical Practice Guidelines for Hypertension', jointly formulated by academic institutions such as the National Cardiovascular Disease Center, Chinese Medical Doctor Association, and Cardiovascular Disease Branch of the Chinese Medical Association(hereinafter referred to as the 'Guidelines')Officially promulgated, in which the diagnostic criteria for hypertension are changed from ≥140/90 mmHgDecreased to ≥130/80 mmHg.
What impacts and changes are expected to be brought about by the release of the new version of the 'Guide'? What is the current development status of related industries in China such as antihypertensive drugs and medical devices? Frost & SullivanFrost & SullivanLiu Weiqi, Executive Director of Healthcare Industry in Greater China at Frost & Sullivan (referred to as 'Frost & Sullivan'), was interviewed by Modern Express to discuss the impact of the lowered diagnostic criteria for hypertension.
Modern Express
11month13On [date], the 'Chinese Clinical Practice Guidelines for Hypertension', jointly formulated by academic institutions such as the National Cardiovascular Disease Center, Chinese Medical Doctor Association, and Cardiovascular Disease Branch of the Chinese Medical Association(hereinafter referred to as the 'Guidelines')Officially promulgated, in which the diagnostic criteria for hypertension are changed from ≥140/90 mmHgDecreased to ≥130/80 mmHgWhat impact will this standard cut-down have on related pharmaceutical and healthcare companies?11month14dayAThe pharmaceutical and healthcare sector has risen sharply, with Yuyue Medical and Kefu Medical, which deal with products such as sphygmomanometers, seeing significant price increases. Companies involved in antihypertensive drugs such as Gibelle, Tianyu Shares, and Xinlite have also seen substantial gains. However, some listed companies have stated that the impact of the lowered hypertension diagnostic criteria is difficult to predict in the short term and requires time to observe.
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A "surge" in hypertension patients?
With the lowering of hypertension diagnostic criteria, it means130/80 mmHg to 140/90 mmHgThe population in the interval will be transferred from 'normal hypertension high-risk' to hypertensive population, potentially leading to a significant increase in the number of hypertensive patients. Reports indicate that the team led by Sun Yingxian, director of the Department of Cardiology at the First Affiliated Hospital of China Medical University, calculated this by combining the China Health and Nutrition Survey(CHNS)of2011Annual data, based on the new standard, estimate that the number of hypertensive adults in China reaches6.13hundreds of millions, and complies2010The number of people using the China National Guidelines Standard in2.68bn. This means that under the new standard, there may be a “new addition”3More than 100 million hypertensive patients.
Does this mean that the use of antihypertensive drugs will increase significantly?
Liu Weiqi, Executive Director of the Healthcare Team at Frost & Sullivan Greater China, told Modern Express that after the standard change, there will be a significant increase in the number of patients diagnosed with hypertension. With the popularization of concepts such as health management and early treatment, sub-healthy individuals will pay more attention to their own health conditions and may stimulate these new patients to start taking medication. For major pharmaceutical companies, this group of people will be the target demographic that can make up for reduced revenue after the price cuts in centralized procurement.
Liu Weiqi introduced that the main hypertension medications include calcium antagonists and renin inhibitors.-Angiotensin-Aldosterone system inhibitors, adrenergic receptor blockers, compound antihypertensive drugs, diuretics, sympathomimetic inhibitors6Class, with a huge market scale, nearly one hundred billion yuan before centralized procurement. However, as the list of eligible suppliers expands, the overall market has shrunk but has already rebounded and is growing slowly. Major manufacturers include Pfizer, Novartis, Shijiazhuang Pharmaceutical, China Resources, etc. Currently, surgical treatment for hypertension is still in its early stages, and renal artery denervation (RDN) may become a new technology for the treatment of hypertension patients, but its effectiveness, safety, applicable population, and long-term health benefits still require longer-term clinical research and confirmation.
Previously, Frost & Sullivan's data predicted the Chinese antihypertensive drug market2022Will reach in1149RMB 1000 million. Released by LeadLeo Research Institute, '2021The 'Overview of the Chinese Primary Hypertension Treatment Drug Industry in 2019' shows that approximately95% of hypertension cases are essential hypertension, which requires long-term medication for treatment.2013 - 2019In China, the average annual compound growth rate of the primary hypertension drug market size reached11.7%,2019Annual scale reaches840.8Yuan. In the future, the market scale of primary hypertension drugs in China will continue to expand, but the growth rate will slow down, with an estimated to2026The annual market scale reached nearly1547.01100 million yuan.
"High blood pressure is not only the most prevalent chronic disease but also the leading risk factor for cardiovascular and cerebrovascular diseases. In fact, some countries around the world have already lowered the diagnostic threshold for hypertension."140/90 mmHgreduced to130/80 mmHg"The relevant person in charge of the Yuwell Medical Sphygmomanometer said, 'The release of China's new version of the 'Guidelines' means that clinical practice is placing more emphasis on blood pressure management, advocating for moving the hypertension prevention line forward, intensifying antihypertensive treatment, simplifying cardiovascular risk stratification, and paying attention to the screening for secondary hypertension.'
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Multiple listed companies responded
△Business revenue of Tianyu's antihypertensive active pharmaceutical ingredients and intermediates According to Tonghuashunfind
11month14dayAThe pharmaceutical sector as a whole rose, with sub-sectors such as traditional Chinese medicine, pharmaceutical commerce, and COVID-19 drugs all seeing significant increases. The stock prices of related listed companies involved in antihypertensive drugs and sphygmomanometers also soared. Kefu Medical saw a significant increase.14%Jibei soared13.19%Fish Leap Medical hit the daily limit up, while Tianyu Shares rose8.67%However, the relevant companies have stated that it is difficult to determine the direct cause of the stock price increase.
AAmong listed companies, companies such as Yuyue Medical, Kefu Medical, Jiuan Medical, and Lexin Medical all have blood pressure monitors related products. Data from this year's Double Eleven show that Yuyue Medical's blood pressure monitors ranked first in sales volume among blood pressure monitor products on both Tmall and JD.com.2022The semi-annual report for the year indicates that in recent years, the awareness rate, treatment rate, and control rate of hypertension among Chinese residents have significantly improved. However, there is still a considerable gap compared to developed market countries. The continuous increase in the prevalence of hypertension and the awareness of blood pressure testing is driving the continuous expansion of market demand, and the prospects for related businesses are broad.
"After the cut-off value is lowered, there will be two impacts: for ordinary people, they may pay more attention to family blood pressure monitoring and management; for the industry, the demand for smart blood pressure monitors will increase. Since blood pressure is directly proportional to age, with the cut-off value lowered, the age group of hypertensive patients will also decrease, meaning that more young and middle-aged people need blood pressure testing, and these groups tend to useapplication"Mini programs and smart devices are used for blood pressure management," said a relevant person in charge of the Yuyue Medical Blood Pressure Monitor to Modern Express reporters.
The semi-annual report shows that in the first half of this year, Yuwell Medical's household electronic testing and in vitro diagnostic products achieved revenue of approximately8.1Yuan, a year-on-year increase7.38%gross profit margin47.13%.
Involving antihypertensive drugsAThe listed companies mainly include Gibelle, Xinlite, Tianyu Pharmaceutical Co., Ltd., Huahai Medicine, Hengrui Medicine, etc. Among them, Tianyu Pharmaceutical Co., Ltd. is one of the world's largest producers of raw materials and intermediates for angiotensin II receptor blockers (ARBs), with the most complete variety. ARB drugs have a thorough antihypertensive effect, few side effects, long-lasting efficacy, and can be used in combination with other ARBs. They have currently become the most widely used drugs for treating hypertension. Tianyu Pharmaceutical Co., Ltd. currently has production capabilities for various raw materials and intermediates for anti-hypertensive drugs such as valsartan, irbesartan, losartan potassium, candesartan cilexetil, and olmesartan medoxomil.
In the first half of this year, Tianyu Co., Ltd. achieved revenue14.74Yuan, a year-on-year increase7.81%Among them, the revenue from antihypertensive bulk drugs and intermediates reached10.98Yuan, a year-on-year increase15.76%Yang Peng, the company's securities representative, told Modern Express reporters that in the short term, the lowering of hypertension diagnostic criteria will not have any impact on the company, but in the long run, it is definitely a positive development.
One of the main products of Jiangsu-listed company Jibelle, nitrendipine tablets, is the first class I compound antihypertensive drug in China, used for treating mild to moderate essential hypertension. Company officials told reporters that they have also noticed reports about the lowering of hypertension diagnostic criteria, but at present, the impact on the company and the industry is still inconclusive and requires further observation over time. However, for antihypertensive drugs like nitrendipine tablets, the company is further intensifying market promotion efforts.
*This article is reprinted from Modern Express. Reporter: Gu Wei Original title: Finance Bolex|Hypertension "threshold" lowered, several listed companies responded ">
