The once elusive HPV vaccine is now being rolled up.
The price of HPV vaccine has plunged
Recently, the news that the price of HPV vaccine has plummeted has been screened on the Internet and is also on a hot search.
Recently, Hainan, Jiangsu, Guangdong and other provinces announced the bid winning price of bivalent HPV vaccine procurement, and the bid winning price of vaccines produced by A-share companies such as Watson Biology and Wantai Biology has dropped below 100 yuan.
For example, at the end of April, Guangdong announced the results of the purchase project of the second dose of HPV vaccine for 2023 school-age girls, Wantai Biological's bivalent HPV vaccine won the bid at a unit price of 86 yuan. Not long ago, in February and July 2023, the bid winning price of the same vaccine was 329 yuan and 116 yuan respectively.
At the end of April, Hainan announced the purchase project of HPV vaccine for school-age girls, The bid winning price of Watson biological bivalent HPV vaccine was reduced to 63 yuan each, The bid winning amount was 6.741 million yuan, far less than the budget amount of 13.91 million yuan.
Not long ago, Jiangsu released the announcement on the purchase of bivalent HPV vaccine, which showed that the bid winning price of Wantai Biology was 86 yuan each.
The HPV vaccine of MSD, an international pharmaceutical giant, is the agent of Zhifei Biology, a A-share company known as "Vaccine Mao".
In January this year, MSD China announced that the twice dose vaccination procedure of the 9-valent HPV vaccine for women aged 9-14 years had been approved by the State Food and Drug Administration. The market generally interprets that, This is equivalent to a disguised price reduction.
HPV vaccine, these biomedical products that were generally unfamiliar to people a few years ago, has now "flown into the homes of ordinary people".
As people become more and more aware of the important role of HPV vaccine in preventing cervical cancer and other diseases, and the price continues to decline, the popularity of HPV vaccine will inevitably increase.
Zhifei Biology, Wantai Biology, double killing of performance and share price
So, what is the current situation of relevant HPV vaccine companies?
The three most famous HPV vaccine companies in A-share market are Zhifei Biology, Wantai Biology and Watson Biology. At present, the three companies are facing a situation of double killing of performance and share price.
About Zhifei Biology and Wantai Biology, the author has made a detailed analysis in previous articles.
Zhifei Biology was a giant with a market value of more than 300 billion in the past, but now it has dropped to more than 80 billion.
On April 23 of this year, Zhifei Biotech had a negative financial report data of "1.458 billion yuan of net profit attributable to the parent company, a year-on-year decrease of 28.26%; 1.455 billion yuan of non net profit deducted, a year-on-year decrease of 28.36%", The share price fell by more than 15% during the session, hitting a four-year low.
Compared with the peak of stock price in 2021, Zhifei Biology has dropped by nearly 80%. The main reason for the sharp decline of the company's share price is that it does not have the ability to produce nine price HPV vaccine, and can only act as an agent for MSD, resulting in a significant reduction in gross profit margin.
Now, the gross profit rate of sales of Zhifei Biology is the lowest since its listing, and the net profit rate of sales, non diluted return on net assets and other indicators hit a new low in the past years. Accounts receivable soared to 30 billion yuan in the first quarter of this year, and the risk of bad debts continued to rise!
Against the backdrop of negative fundamentals and continued decline in future expectations, the prospects of Zhifei Biology are not optimistic.
Wantai Biology is a company owned by Zhong 睒睒睒, the richest man in China and farmer Shanquan boss.
If Zhifei Bio's net profit fell by nearly 30% in the first quarter of this year, it was a broken bone, while Wantai Bio's "ankle":
The operating income of Wantai Biology in the first quarter was 753 million yuan, down 73.93% year on year; Net profit attributable to the parent company was 126 million yuan, down 89.90% year on year.
The main reason for the decline of the company's performance was that "the main product of the vaccine segment, the bivalent HPV vaccine, was affected by the factors such as the age expansion of the nine price HPV vaccine, market competition, and inventory reduction, and the sales revenue and profit fell compared with the same period last year."
It seems that the bivalent HPV vaccine is not competitive compared with the ninvalent HPV vaccine.
According to professionals, the bivalent HPV vaccine can achieve 70% cervical cancer prevention, while the ninvalent HPV vaccine can achieve 90% cervical cancer prevention. The bivalent virus subtypes are HPV16 and 18, and the bivalent virus subtypes are HPV6, 11, 16, 18, 31, 33, 45, 52 and 58.
It seems that most people prefer the 9-valent vaccine with stronger protection ability and more types of virus subtypes.
Plummeted by 85%, and Watson Biotech realized cash crazily
The price of bivalent vaccines with poor competitiveness fell from more than 300 to more than 100 and then to more than 60, constantly breaking new lows. Its price war is as fierce and involved as that of photovoltaic industry.
The stock of photovoltaic industry has frequently dropped by 70% or 80% in recent years, Zhifei Biology, which is engaged in HPV vaccine, has dropped by nearly 80% in recent years, and Wantai Biology has dropped by 55%.
Watson Biology has fallen even more than them. Since its historical high price of 96.69 yuan in August 2021, it has almost fallen without any rebound. Its share price has still been less than 14 yuan, Up to 85% decline!
In terms of performance, in 2023, Watson Biological's revenue will be 4.114 billion yuan, down 19.12% year on year; The net profit was 419 million yuan, down 42.44% year on year.
In the first quarter of this year, Watson Biological's revenue was 600 million yuan, down 28.02% year on year; The net profit is 14.13 million yuan, The year-on-year decrease was 91.79%.
In the first quarter, the performance of Watson Biology declined more than that of Zhong 睒's Wantai Biology!
Watson Biology attributed the decline in annual report performance to factors such as "the sales volume of the company's bivalent cervical cancer vaccine did not meet expectations due to the aging of the 9-valent human papillomavirus vaccine and the substantial increase in the number of imports", which is similar to that of Vantai Biology.
The reason why the share price of Vantai Biology fell less than that of Watson Biology was that Vantai Biology kept exposing the latest information about the 9-valent HPV vaccine, which gave the outside world a strong expectation that it would be approved for listing.
Watson Biology has lagged behind in the progress of the 9-valent vaccine. When replying to investors' questions at the end of April, the company only said that "at present, based on the clinical development plan of the 9-valent HPV product, it maintains close communication with CDE (the State Food and Drug Administration), and actively strives to promote the development of protective efficacy clinical research with optimal strategies."
Wantai Biology launched Ning Kexin, the first bivalent HPV vaccine in China, in 2019, and Watson Biology launched Wozehui, the second bivalent HPV vaccine in China, in 2022. The competition between the two is very obvious.
It is worth noting that, In terms of stock reduction, the two are also competing fiercely.
On April 29, 2020, Wantai Biology was listed. With its first mover advantage in the field of HPV vaccine, Wantai Biology soared when it came into the market. At one time, it had more than 20 consecutive word boards, which was too fierce.
At the end of April 2021, the management of Wantai Biology will reduce its holdings crazily after the expiration of the restriction period.
From June to August 2021, Qiu Zixin, the chairman of the board of directors, reduced 2.3 million shares, Realize nearly 500 million yuan; Li Yimin, the chief engineer, realized 475 million yuan in just two months; Li Shayan, deputy general manager, realized 165 million yuan.
Other executives were also happy to reduce their holdings. Look at the company's announcement at that time, Almost all the information about underweight.
Wantai Biology has become a wealth making machine for executives, producing many billionaires and multimillionaires. However, the actual controller Zhong Zhixuan did not reduce his shareholding. Maybe he doesn't need more money to improve his life.
In terms of Watson Biology, it is more interesting because the company's executives reduce their holdings too much, It has been reduced to no actual controller, Liu Junhui, the largest shareholder, holds only 3.37% of shares.
Li Yunchun, the sixth largest shareholder, is the founder and chairman of the company, with a shareholding ratio of only 1.69%.
From 2016 to 2018, Li Yunchun realized 407 million yuan, 358 million yuan and 480 million yuan respectively.
Li Yunchun, who has always enjoyed cashing out, can't stop. At the beginning of 2019, he once again reduced his holdings of more than 10 million shares, but this time it became big. Because he was so arrogant about reducing his holdings, he did not disclose the information about reducing his holdings as required, and was issued a supervision letter by Shenzhen Stock Exchange.
The regulatory letter did not stop Li Yunchun from reducing his shareholding at all. He continued to cash out later, until now the shareholding ratio has dropped to 1.69%.
Of course, a group of senior executives of Watson Biology also actively reduced their holdings and cashed out, many of whom became multimillionaires.
Surprisingly, in the first quarter of this year, the stock price of Watson Bio fell by more than 34%, but one of the funds under E Fund increased its holdings by more than 10 million shares, accounting for more than 44%. At present, it is the third largest shareholder.
Poor shareholders of Watson Biotech, the share price fell by more than 85% in less than three years, making many retail investors who choose to stick to it suffer huge losses. While retail investors lost money and became "thin monkeys", Watson Biotech executives became rich by cashing in.
As for the fierce price war of bivalent HPV vaccine, it has nothing to do with the personal wealth of executives of Watson Biology and Wantai Biology. They have already been fed up in the stock market.
In addition, E Fund, do you want to go out and take two steps to explain why it has massively increased its stake in Watson Biology?
