- 2024,11,05
On the evening of August 20th, Cheng Yi Pharmaceutical (603811) disclosed its semi annual report. Against the backdrop of complex and ever-changing domestic and international economic environments, the company adheres to innovation driven and market-oriented approaches, achieving a revenue of 356 million yuan, a year-on-year increase of 10.89%. Among them, the operating revenue in the field of joint drugs has surged by more than 30% year-on-year, which not only highlights the strong growth momentum of the company in this field, but also reflects the high recognition of its products in the market.
In today's increasingly competitive global pharmaceutical market, how can a pharmaceutical company maintain its market competitiveness and achieve sustained growth? Cheng Yi Pharmaceutical has provided a powerful answer through its diversified product line and excellent product quality.
It is reported that the company's product line covers multiple therapeutic fields such as joint, diuretic and antihypertensive, antiviral, anti-tumor, and sedative and brain tonifying. Among them, key varieties such as glucosamine hydrochloride not only have drug approval numbers for raw materials and formulations, but also won the first bid in the third batch of centralized procurement in August 2020, with a market share of more than 41% in 9 provinces and cities across the country. With the transition from national procurement to inter provincial alliance centralized procurement in October last year, the product has won bids in 22 provincial-level centralized procurement regions across the country, further consolidating its market position.
The company always adheres to the concept of "quality first" in drug production, implements full process quality management, and ensures strict control of drug quality from material procurement to production, inspection, storage, transportation, and other aspects. During the reporting period, the company continued to strengthen GMP management and continuously improved its quality management level through supplier audits, deviation change management, and other means.
Research and development is the core driving force for the sustainable development of pharmaceutical enterprises. During the reporting period, the company systematically promoted consistency evaluation work based on the principle of advantageous key profitable varieties, and multiple varieties have been successfully applied and accepted. At the same time, the company is developing up to 14 new products covering multiple therapeutic fields, demonstrating its strong capabilities in new drug research and development. In addition, the company has also improved the quality of approved raw materials, further enhancing the market competitiveness of the products.
At present, Cheng Yi Pharmaceutical is gradually moving towards the "big health industry". In August 2022, the company passed the on-site inspection of the health food production license and obtained the first health food production license in Wenzhou City. In March 2023, the food (candy) production license inspection will be passed and a new food production license will be issued. In December 2023, obtained the production and operation license for edible mushroom strains (Cicada Flower). In April 2024, obtained the production license for food fish oil raw materials.
It is worth mentioning that the company's 1000 ton high-purity EPA production line is steadily under construction. According to in-depth analysis and prediction by Huaxi Securities, the market size of EPA prescription drugs with 97% purity is expected to reach 10.7 billion yuan by 2028, requiring approximately 1342 tons of raw material supply.
The market demand for high-purity EPA soft capsules as an effective treatment for severe hypertriglyceridemia is gradually increasing. The overseas original research drug was approved for market in China in July this year, which is expected to stimulate the trend of domestic generic drug research and development, and further promote the significant increase in demand for high-purity EPA raw materials.
The production of high-purity EPA raw materials is a field with high technical barriers, and Cheng Yi Pharmaceutical, with its first mover advantage in this field, has become one of the earliest raw material companies to undergo domestic and international certification. The process technology jointly developed by the company and its partners is mature, equipped with advanced equipment, and has a complete system of research and development, application, production, and quality assurance. This will give the company a favorable position in the expansion of the fish oil industry chain.
With the gradual implementation of new production capacity, Cheng Yi Pharmaceutical is expected to leverage the strong market demand for high-purity EPA raw materials to embark on a new chapter of business growth for the company. This measure will not only enhance the company's market competitiveness, but also provide patients with more high-quality treatment options, further consolidating Cheng Yi Pharmaceutical's advantages in the pharmaceutical industry.