[China Pharmaceutical Network Market Analysis] Recently, among the A-share listed companies, 6 leading API companies announced their results for the first half of 2017, and the revenue was positive. For the price increase of raw materials, many people in the industry first think of the "environmental protection" issue. In mid-to-late August, 10 ministries and commissions including the Ministry of Environmental Protection, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Public Security, and the governments of 6 provinces (cities) including Beijing, Hebei, and Shandong jointly issued the "Beijing-Tianjin-Hebei and Surrounding Areas 2017-2018 Autumn and Winter Comprehensive Control of Air Pollution" Action Plan", which mentions that "pharmaceutical companies involved in the production of APIs involving VOCs emission processes should in principle implement shutdowns during the heating season. If production is really needed due to special circumstances such as people's livelihood needs, it should be reported to the provincial people's government for approval." The government The level of environmental protection is an iron fist attack. How should companies actively face this situation? How do these six leading companies do?
Recently, the Ministry of Industry and Information Technology announced the completion of the main economic indicators of the pharmaceutical industry in the first half of 2017. In the first half of this year, the main business income of enterprises above designated size in the pharmaceutical industry was 1,531.44 billion yuan, a year-on-year increase of 12.39%, and the growth rate increased by 2.25 percentage points compared with the same period of the previous year. Among them, the main business income of chemical raw materials manufacturing reached 260.206 billion yuan, a year-on-year increase of 13.68%, and the growth rate increased by 4.13 percentage points compared with the same period of the previous year.
In the A-share market, the operating income of 6 leading API companies in the first half of 2017 increased to varying degrees. Among them, Hisun Pharmaceuticals, Northeast Pharmaceuticals, Xinhua Pharmaceuticals and Huahai Pharmaceuticals increased by more than 10%. Pharmaceutical rose even reached 1162.03%.
Hisun Pharmaceutical: All products entering the United States have been lifted
Hisun Pharmaceutical's 2016 operating income was 9.733 billion yuan, of which the sales revenue of APIs was 1.288 billion yuan, accounting for 13%. Due to the impact of the FDA import warning in 2015 and the European Medicines Agency (EMA) warning in 2016, some of the company's API varieties cannot be sold in the two major pharmaceutical markets in the United States and Europe. Last year, the company's overall revenue declined. In 2016, the net profit attributable to shareholders of listed companies was -94.43 million yuan, a year-on-year decrease of 796.03%.
In the first half of 2017, Hisun Pharmaceutical achieved an operating income of 5.505 billion yuan, a year-on-year increase of 16.40%; the net profit attributable to shareholders of the listed company was 13.504 million yuan, a year-on-year decrease of 33.61%.
According to the data from the interim report, Hisun Taizhou base successfully passed the FDA inspection, and all products that were originally prohibited from entering the United States were lifted by the FDA, and product sales have resumed. In the first half of the year, the trial production and verification of four products including capecitabine, p-aminosalicylic acid, posaconazole and fidamycin were completed. The Fuyang base has completed the verification of the new process of orlistat, the production level has been greatly improved, the UK products have been successfully sold in batches, and the trial production stage of Anifungin has been completed, and the process verification will be completed in the second half of the year. The praziquantel production line in Nantong base has passed FDA and WHO audits, and many varieties have large production capacity.
Hisun Pharmaceutical stated that in the first half of the year, the company had no environmental pollution accidents and was not subject to administrative penalties for environmental protection. Zhejiang Hisun Pharmaceutical Co., Ltd. (Taizhou region) was listed as a state-controlled pollution source for wastewater during the reporting period. Currently, the wastewater station upgrading and reconstruction project has been carried out, and a total of 2 sets of sewage treatment systems have been built.
North China Pharmaceutical: Amoxicillin price has increased
In 2016, North China Pharmaceutical achieved operating income of 8.082 billion yuan, of which chemical raw materials accounted for 21%. According to the data from the interim report, in the first half of 2017, North China Pharmaceutical achieved an operating income of 4.003 billion yuan, which was basically the same as the same period last year.
Among them, North China Pharmaceutical Group Xiantai Pharmaceutical Co., Ltd., a subsidiary mainly engaged in the synthesis of antibiotic APIs and intermediates, increased the price of its main product, amoxicillin, in the first half of 2017, and achieved an annual revenue of 378.88 million yuan, a year-on-year increase of 0.37%.
In recent years, North China Pharmaceutical has actively carried out volatile organic waste gas and odor control work. First, it supervises all fermentation enterprises to implement fermentation tail gas collection and management work; Exhaust gas, distillation and condensation exhaust gas are collected, and measures such as adsorption and absorption are used for treatment to reduce VOCs emissions; the third is to actively promote the optimization of antibiotic production processes, gradually replace chemical production processes with enzymatic technology, and reduce the use of organic solvents from the source. .
In addition, the company has also actively carried out the research and development of the technology for the harmless disposal and utilization of antibiotic slag. "Integration of complete sets of technologies for harmless and resource utilization of bacterial residues" has passed the appraisal of provincial scientific and technological achievements, and the overall level has reached the domestic leading level; "The treatment method of penicillin bacteria residues" has obtained the authorization of the national invention patent; jointly with Hebei Academy of Environmental Sciences and Hebei University of Science and Technology The declared "Methods for the Detection of Penicillins and Cephalosporins in Pharmaceutical Mushroom Residues" was successfully established in Hebei Province.
Northeast Pharmaceutical: Pay attention to the three major pollution problems of water, air and solid waste
In 2016, Northeast Pharmaceuticals achieved an operating income of 4.814 billion yuan, of which the sales of raw materials accounted for more than 23%. According to the data from the interim report, in the first half of 2017, Northeast Pharmaceuticals achieved an operating income of 2.766 billion yuan, an increase of 15.02% over the same period last year. Among them, the API segment achieved operating income of 673 million yuan, an increase of 13.12% over the same period last year.
With the intensification of smog and pollution, the environmental protection situation is becoming more and more serious. Northeast Pharmaceuticals stated that the company and its subsidiaries are key pollutant discharge units announced by the environmental protection department. In terms of water pollution prevention and control, the company's production plants are equipped with comprehensive sewage treatment facilities. The device is used to treat production and domestic wastewater, and the discharged wastewater meets the "Liaoning Provincial Comprehensive Sewage Discharge Standard", the factory wastewater discharge outlet is marked with specifications, and an online monitoring system is installed and connected to the monitoring center of the Municipal Environmental Protection Bureau, which can realize real-time upload of online water quality data; Atmospheric In terms of pollution prevention and control, the boilers in each production plant of the company are equipped with two sets of desulfurization and dust removal facilities. The double alkali method is used for desulfurization and the bag dust removal method is used for dust removal to ensure that the boiler flue gas discharges up to the standard. Automatic online monitoring equipment is installed at the discharge outlet, and it is networked with the Municipal Environmental Protection Bureau; in terms of solid waste pollution prevention and control, the company builds its own hazardous waste incinerator, or has qualified units for compliance disposal.
Xinhua Pharma: Revenue from APIs in the first half of the year exceeded 1 billion
Xinhua Pharmaceutical's operating income in 2016 was 4.015 billion yuan, of which chemical raw materials accounted for 44%. According to the data from the interim report, in the first half of 2017, Xinhua Pharma achieved an operating income of 2.403 billion yuan, of which the raw material drug segment realized an income of 1.05 billion yuan, an increase of 14.46%.
Xinhua Pharma stated that one of the key tasks in the second half of the year is to further expand the advantages of APIs, continue to expand the market advantages of major varieties, actively seize market share, implement incentive policies for new product sales, accelerate the market promotion of new APIs, and strive to cultivate new economic growth point.
On the issue of environmental protection, Xinhua Pharma stated that in the first half of 2017, it carried out comprehensive safety inspections in spring and summer, completed the renovation of safety measures for important positions in many production lines, and carried out in-depth VOC atmospheric control and comprehensive environmental improvement. No general or above types of accidents occurred.
In terms of the construction of pollution prevention and control facilities, Xinhua Pharma has built three sets of sewage treatment facilities, which can fully meet the requirements for stable and standard discharge of wastewater. The company's three main drainage outlets are installed with standardized online monitoring facilities, and the operation is entrusted to qualified units. The online monitoring data of wastewater discharge is uploaded to the Shandong Provincial Environmental Automatic Monitoring and Monitoring System in real time for release, and the Shandong Provincial Environmental Protection Department implements online real-time management. The treatment of waste gas mainly adopts the method of point source treatment. The company also built three sets of incineration facilities to dispose of some hazardous wastes by itself. In addition, some hazardous wastes are entrusted to qualified units for disposal.
Huahai Pharmaceutical: Environmental protection investment has reached 600 million
Huahai Pharmaceutical achieved an operating income of 4.093 billion yuan in 2016, of which the sales of raw materials and intermediates accounted for 46%. According to the data from the interim report, in the first half of 2017, Huahai Pharmaceutical achieved an operating income of 2.35 billion yuan, an increase of 18.53% over the same period last year.
In the first half of 2017, under the fierce market competition, Huahai Pharmaceutical's API business maintained steady growth. The company closely focuses on the strategic layout of global sales of APIs, further subdivides the market, and strives to achieve precise marketing. Through strategic negotiation and market operation, the company has mastered the initiative of multiple product prices and effectively maintained product prices.
In terms of environmental protection, in the first half of 2017, Huahai Pharmaceutical and its subsidiaries had zero environmental accidents. Huahai Pharmaceutical stated that each subsidiary company carried out cleaner production work in accordance with the relevant documents of the Environmental Protection Department of Zhejiang Province, and started the third round of cleaner production work at the end of 2016, and is currently preparing a cleaner production report by a third-party qualified company. The environmental protection facilities of each branch company also carry out various work in accordance with the environmental protection "three simultaneous" management system. The project is designed by Zhejiang Meiyang International Engineering Co., Ltd., and the environmental impact report is prepared by Zhejiang Academy of Environmental Sciences and Zhejiang Taicheng Environmental Technology Co., Ltd. Carry out environmental protection trial production, environmental protection acceptance monitoring and on-site acceptance in sequence, and put into formal production and operation after obtaining the approval document from the Environmental Protection Department. Each branch company has prepared the Emergency Response Plan for Environmental Accidents, which has passed the expert review.
Huahai Pharmaceutical attaches great importance to the introduction of advanced environmental protection technology and equipment upgrade. Up to now, the company has invested more than 600 million yuan in environmental protection.
Yifan Pharmaceutical: The proportion of raw materials in the first half of the year rose to 41%
Yifan Pharmaceutical achieved operating income of 3.505 billion yuan in 2016, of which the raw material business accounted for more than 32%. According to the data from the interim report, in the first half of 2017, Yifan Pharmaceutical achieved an operating income of 1.857 billion yuan, a year-on-year increase of 7.23%. The operating income of the API business was 770 million yuan, accounting for 41%.
Yifan Pharmaceutical said that the market for the company's products of vitamin B5 and the original B5 is relatively good, and the price of the products has increased compared with the same period of the previous year. , Grasp market opportunities, adjust production and operation strategies in a timely manner, on the premise of ensuring product quality, achieve zero production accidents, high environmental protection standards and strict requirements, and actively expand new customers, to achieve sales basically the same as the same period last year, making the report The API segment achieved good operating performance in the period.
Some of the raw materials used in the production of raw materials such as vitamin B5 and original B5 of the company are flammable, explosive and toxic gases or liquids, and a certain amount of waste water, waste gas and waste residue will be generated. With the implementation of the new environmental protection law and the implementation of supply-side reforms by the state, the environmental protection requirements for production enterprises, especially API production enterprises, are getting higher and higher, and the safety production test will become more and more serious. To this end, the company will further increase investment, implement the responsibility system, carry out safety training and education in a timely manner, and continuously reduce the company's environmental protection and safety risks through strict management and technical improvement. Subsidiaries Hangzhou Xinfu, Anqing Xinfu and Chongqing Xinfu have all carried out the construction of relevant pollution prevention and control facilities, and the current operation is stable.
Environmental protection pressure will continue in the second half of the year
As a relatively polluting industry, the pharmaceutical industry is facing increasingly stringent environmental protection pressure. At the turn of 2016 and 2017, due to factors such as pollution control and regulation, many companies were notified to suspend production, involving 26 pharmaceutical companies in Beijing and 5 provinces and cities around Beijing (Hebei, Tianjin, Shanxi, Shandong, Liaoning). The shutdown of the company will undoubtedly affect the supply and demand of APIs.
According to a report from the Ministry of Environmental Protection, as of the end of June this year, there were 176,000 “scattered and polluted” enterprises discovered by Beijing-Tianjin-Hebei environmental protection inspections. The Ministry of Environmental Protection requires that all enterprises that cannot upgrade to meet the emission standards should be closed before the end of September this year. At present, the requirements for environmental protection at the national level are to attack with an iron fist, and the determination to control pollution is unprecedented.
"Environmental protection" may be a double-edged sword. Yu Mingde, president of the China Pharmaceutical Enterprise Management Association, once said that environmental protection forces companies to eliminate outdated production capacity or carry out large-scale relocation. The relocation of enterprises is costly and the construction period is long, and this process will create opportunities for individual companies to make a comeback. Pan Guangcheng, executive chairman of China Chemical and Pharmaceutical Industry Association, also mentioned that environmental protection requirements have raised the technical barriers of the API industry, forcing companies to shape their core competitiveness through environmental protection technologies and processes. The API industry is getting rid of disorder and low-price competition. In this process, the prices of API varieties will rise, and once the enterprise can cross the environmental protection threshold, it will also usher in a new round of development opportunities that are different from transformation.
This will be another major reshuffle of the industry. The leading enterprises have strong capital. We will wait and see how to successfully cross the threshold of environmental protection and welcome a new round of development opportunities.
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