Pharmaceutical sector innovative ability to face a big test valuation is expected to outperform the market

After 2009 years of Glory and strong 2010, the performance of the pharmaceutical sector, which features the risk aversion, will become a topic of common interest to investors in the 2011. "Macro environment is not clear, the next six months the pharmaceutical sector is still expected to win the market, we recommend the combination of medicine and attack and defense, a balanced choice of stocks." Innovation + Breakthrough traditional valuation, most pharmaceutical quality companies still have absolute benefits, but the defensive more prominent.　　"Wanguo Pharmaceutical industry analysts believe that the pharmaceutical sector stocks at present a certain degree of high valuations, and innovative ability and the integration of the expected stocks should become the main investment." In fact, since 2009, the pharmaceutical sector has been relatively strong relative to the entire market. As for 2010, the beginning of the year to Suiwei, whether the market shocks fell or slightly higher, the pharmaceutical sector can basically run to win the market. This is also the cattle stock times out of the zone, 2010, the Purple Xin Pharmaceutical industry (002118. SZ), Zhong Heng Group (600252. SH), Diving medical treatment (002223.　　SZ) and Hai Xiang Pharmaceutical (002099.SZ) and other shares rose by 100%. As of December 30, 2010, reporters using the trading system rough statistics, the beginning of the year to date the medical device plate 72.61% of the increase in the second place, bio-medicine has gained 22.47% of the gains.　　In the same period, the CSI 300 index fell 14.71%.　　Today, the biomedical sector has a dynamic P/e ratio of 44.32 times times, while the medical device plate is up to 82.27 times times P/E.　　Still, analysts have high hopes for the 2011 pharmaceutical sector. National Securities analyst Tu Ling Wave calculates the pharmaceutical industry 2011 dynamic earnings ratio of about 39 times times, she thinks such valuation level is reasonable. "As a national strategy of emerging industries, the certainty of growth makes the pharmaceutical industry continue to be favored, the future valuation of high premium rate will become the norm."　　Shing said that although the pharmaceutical sector and the market premium rate reached 125%, creating a record high, the pharmaceutical industry investment opportunities are attractive.　　There is concern in the industry, in the labor and raw material costs rise, drug prices are limited or even lower prices of the situation, the pharmaceutical industry gross margin has further lower pressure. The Antelope wave, however, believes that there is considerable room for improvement in the capacity and health costs of the drug market in China, and that further advances in medical reform will ensure continued expansion of the drug demand. In addition, "the pharmaceutical industry's policy-oriented structure as the main line, focusing on innovation, upgrading and transformation, accelerate the promotion of mergers and acquisitions and the cultivation of large pharmaceutical conglomerates." Under the guidance of industrial policy, China is bound to birth a group of large pharmaceutical enterprises with international competitive power, the new era of medicine is coming.　　"In line with Wanguo, the national securities Gazelle wave, brokers analysts said 2011 innovative listed companies will be more performance." A medical analyst, who declined to be named, told reporters: "The valuation of pharmaceutical stocks is indeed very high, and the fall in the previous period has made the situation, the market is still adjusting, if a further fall of 5% is a good time to intervene, it is estimated that the fund will also be active positions. "Perhaps not 2010 years, 20%-30% of the increase will be there." "The above-mentioned people also mentioned that, in the context of the national restructuring of the industrial structure, the Ministry of Health, Ministry of Industry and Drug Administration in October 2010 issued the" Guidance on speeding up the restructuring of the pharmaceutical industry. " "So even the concept of innovation, innovative pharmaceutical companies will receive more attention."　　"Q&a q= Huaxia financial a= Investment Securities and pharmaceutical industry analyst Zhou Rui Q: How to view the pharmaceutical industry in the 2011 opportunities?" A: I think the early decline of pharmaceutical stocks has digested the risk of high valuation of some stocks in the industry, the pharmaceutical sector has grown into a large market value industry, the pharmaceutical sector total market value Breakthrough 1.3 trillion, ranked 5th in each plate.　　Profits in the 2011 pharmaceutical sector are still expected to grow by 25%-30%, still the Golden age for investment in pharmaceuticals.　　Q: In the pharmaceutical sector, more optimistic about what kind of company? A: First of all, prescription drugs, under the pull of universal health care, the continuous growth of prescription drugs is inevitable, innovation and concentration increase is the two main lines of investment; second, the Chinese medicine health products, there is a huge cross-industry expansion space, domestic Chinese medicine enterprises have access to health food and medical cosmetics congenital advantage; December 3 The State Council issued "on the further encouragement and guidance of social capital to organize medical institutions," is a milestone in the Medical service field event. At the present stage, the certainty of the investment specialist chain Hospital is strongest.　　In fact, although the pharmaceutical industry is many and miscellaneous, but it is worth a lot of investment, 2011 I was optimistic about 60% of the pharmaceutical stocks.　　Q: What are the most promising investments? A: 2011, you can first consider the allocation of prescription drugs, Traditional Chinese medicine health care and pharmaceutical circulation of the leading varieties as the basic configuration, while the proposed investment innovation and medical services to obtain excess income.　　The most optimistic stocks include: Heng Rui Medicine, Donga donkey-hide gelatin, sig pharmaceutical, Ai er Ophthalmology, the Chinese medicine shares. Point stock into the Jin Heng Rui Medicine (600276.　　SH): Recommended frequency of the highest although dare not say that the recommendation rate reached 100%, but in the reporter inquires a number of strategic reports, Heng Rui Medicine is the pharmaceutical industry recommended the highest frequency of a stock. He Pingxian Securities and pharmaceutical industry analyst, said that Heng Rui Medicine in the next 1-2 years will continue to rely mainly on domestic generic drugs to pull growth.　　Among them, anti-tumor drugs are the foundation of the company's development, is expected to increase by about 20% in 2010; The surgical medication is the development focus, the growth is rapid, is estimated to increase about 60%; anti-infective drugs stabilize the existing scale before new products are introduced and increase by about 10%; cardiovascular medicine is being nurtured and continues Public information shows that 2010 1-September, Heng Rui Medicine to achieve total operating income of 2.814 billion yuan, an increase of 27.25%; attribution onCity Company net profit of 563 million yuan, an increase of 19.14%, basic earnings per share of 0.752 yuan. Changjiang Securities analyst Shangpeng that, because of the strength of Heng Rui Medicine, the new policy of drug price management is the final but its positive. In addition, Heng Rui Medicine New drug for the JAL capsule was officially approved in August 2010, September has begun production, as a line of anti-tumor product lines, or will usher in high-speed growth.　　Shangpeng predicts that the company will be able to reach 400 million-600 million yuan/year sales scale, and forecast the 2010-2011 EPS of the pharmaceutical industry is 1.05 yuan, 1.30 yuan respectively. Cologne Pharmaceutical Industry (002422.　　SZ): The three major investment to watch the recent good many of the Cologne pharmaceutical industry, is also a number of brokers recommend Gold cakes. The national securities Shing that there are three investment points worth paying attention to in the Cologne pharmaceutical industry. First, the industrial upgrading and concentration is the future development of large infusion industry, as the industry leader, the Cologne pharmaceutical industry to obtain the integration of the advantages of industry enterprises; second, the company is in the rapid advancement of industrial structure upgrading, the third is the expansion of the Cologne pharmaceutical extension of the national layout.　　The company has integrated industry resources core advantages, listed before the acquisition of Hunan Cologne, Heilongjiang Cologne and other 11 enterprises, listed after the acquisition of the Henan Continent 90% stake, Zhejiang Frontier Pharmaceutical 85% Equity. "Listing provides companies with sufficient fund-raising to accelerate acquisitions and product restructuring, resulting in more than expected growth." Company Capital Provident Fund Rich, with high transfer potential.　　"CICC analyst Sun Liang pointed out that the high transfer concept or the market trigger point of the Cologne pharmaceutical industry, he expected that the stock 2010, 2011 and 2012 EPS, respectively, 2.74 Yuan, 3.66 yuan and 4.60 yuan. Donga gelatin (000423).　　SZ): Higher prices are expected strong with stronger expectations of Donga donkey-hide gelatin is still highly praised. Investment securities pharmaceutical industry analyst Shan Judge, Donga Gelatin will continue to raise prices in 2011. Due to the correct price hike, Shan that the range may be far beyond the market expectations, the price increase is more than expected to bring the performance of the super expectations.　　Therefore, she firmly believes that the 2011 Donga gelatin still has a huge investment value, and the Donge donkey-hide gelatin 12-month target price from 50 yuan to 80 yuan. CIC Securities is also a firm Donga donkey-Hide gelatin, analyst Zhou Rui that the company has a monopoly resource advantages, strong channel control, and actively promote the integration of donkey-hide gelatin industry chain, is expected 2010, 2011 and 2012 EPS is 0.96 yuan, 1.31 Yuan and 1.77 yuan to maintain the 6-12-month target price of 65.50 yuan.