New biotin sales rise sharply, Tibet Pharmaceuticals’ 2019 net profit is expected to increase by 44%
Beijing News (Reporter Zhang Xiulan) On the evening of January 16th, Tibet Pharmaceutical issued a 2019 performance forecast, with an expected net profit of 311 million yuan, an increase of about 44% year-on-year, and a net profit after deducting non-recurring gains and losses of about 307 million yuan. , An increase of about 100% year-on-year.
Tibet Pharmaceuticals mainly produces and sells capsules, biologics, granules, coatings, etc. The main products involve cardiovascular, cerebrovascular, liver and gallbladder, contusion and rheumatism, rheumatoid, cold and other fields. Nuodikang capsules have a strong advantage in the treatment of cardiovascular diseases.
Tibet Pharmaceutical said that during the reporting period, the sales revenue of Tibetan pharmaceutical products increased significantly, of which the sales income of neo-biotin products increased by nearly 50% year-on-year.
The inclusion of medical insurance has become an important reason for the rapid volume of new biotin products. In July 2017, Xinhuosu entered the medical insurance by reducing the price by about 40% through the negotiation of high-priced drugs, which solved the predicament that the previous unit price of the product was too high and the medical insurance could not be reimbursed. After being included in the medical insurance, Xinhuosu began to increase its volume sharply in 2017. In 2017 and 2018, the sales volume increased by 67% and 91% respectively, significantly exceeding market expectations. At the same time, in 2017, Xinshengsu made up 67% of the sales volume to make up for the impact of a 40% drop in ex-factory prices. There was no decline in revenue and net profit caused by the market ’s sharp price cuts. In 2018, the sales volume of Xinshengsu continued to increase significantly by 91%, and the revenue was close to 600 million yuan. If the asset impairment factor was not taken into account, the operating net profit in 2018 had reached 300 million yuan, a year-on-year increase of 31%. The net profit level reached the previous level Historical peak.
There are about 2 million cases of acute heart failure in China each year. As a rescue medication for acute heart failure, neoactivin is suitable for more than 90% of patients. The New Times Securities Research Report has pointed out that the potential market space of neo-biotin is more than 3 billion, and Tibet Pharmaceutical’s sales in 2018 were 1.18 million, with a penetration rate of only 10%. Assume that in the next few years, the utilization rate of new biotin will gradually increase to 35%, corresponding to a market capacity of more than 6 million pieces and a corresponding amount of 3.6 billion yuan.
The research report believes that 2019 will become the turning point for Tibet’s pharmaceutical industry performance. Data such as IMS and PDB show that the sales of new biotin in hospital terminals are similarly high. It is expected to achieve a high growth of more than 50% throughout the year and continue to grow rapidly in the next few years. (Increasing 53% / 43% / 40%), thereby driving Tibet Pharmaceutical’s revenue and net profit to maintain a compound growth of more than 30% in the next few years. At the same time, due to the company’s accrued asset impairment of more than 85 million in 2018, the company’s apparent net profit growth rate in 2018 was relatively low. Starting in 2019, the company will reflect the inflection point in performance, and it is expected that the apparent net profit will increase significantly. 76% (net non-operating net profit increased 38% year-on-year).
Editing Yue Qingxiu Proofreading He Yan