Watson biology repeatedly withdraws in the research Vaccine Project transformation big creature faces the pain

According to a recent study by Banking, a consultant from the Chongqing investment adviser, China's vaccine market has reached 18 billion trillion yuan, with an annual growth rate of 18%, the number of vaccine production companies ranked first in the world. However, the debut of the vaccine halo of the Watson creature (300142, closing price of 39.70 yuan) now seems to be with the billions of cakes gradually drift away. September 6, Watson's biology announced the withdrawal of the "adsorption of cell-free hundred-white broken, recombinant hepatitis B, Haemophilus influenzae type II vaccine" drug registration; the company has since terminated 4 research projects. Yesterday (September 24), many analysts told the Daily Economic news reporter, Watson biological vaccine in the development of alternative products, and its efforts to develop pneumonia combined vaccine also has the difficulty of technology challenges, short-term difficult to market, "in fact, the entire domestic vaccine market is still in the look of a beautiful stage." At the same time, Watson's biology since last year has spent nearly 2 billion yuan layout "vaccine + blood products + single anti" industrial strategy, gambling "big biological" concept, the company raised funds and cash flow is now embarrassed, and the acquisition of enterprises temporarily unable to contribute to its profits. In this respect, the reporter repeatedly call Watson biological director of the Secret office, unfortunately, as of press, the company's response is still "to the announcement." The embarrassing thing about being pulled out of vaccines/for pharmaceutical companies, the concept of vaccines tends to attract capital, and Watson's biological vaccine story is particularly volatile. January 24 this year, Watson Biological Bulletin said "adsorption of cell-free hundred-white broken, a clinical study on recombinant hepatitis B, Hib combined vaccine" and "ACYW135 Group meningococcal-B haemophilus influenzae-type polysaccharide conjugate vaccine" received by Yunnan Provincial Food and Drug Administration; This means that the product has completed preclinical research , enter the registration procedure. The daily economic news reporter found that, affected by the news, Watson's biological shares from about 37 yuan to explore the way to the vicinity of 46.3 Yuan. As investors expect the two vaccine products to be registered, Watson said on September 6 that it had applied to the Yunnan provincial Food and Drug Administration to withdraw the "adsorption of cell-free hundred-white broken, recombinant hepatitis B, Haemophilus influenzae type II vaccine" drug registration. The company said that because the combined vaccine in accordance with the current foreign immunization procedures, with the present immunization program-related vaccine immunization programs exist some inconsistencies, so the choice to withdraw the application. "National immunization program can be publicly queried vaccine procedures, outside the industry as long as the search through the Internet can be queried, as a specialized in vaccine research and development companies do not know these common sense of the lower probability." "said a senior executive at a listed company in Chongqing's biopharmaceutical industry. "Daily economic news" reporter found through the network, according to the National immunization planning vaccine procedures, newborn infants in the 0、1、6月 age of three hepatitis B vaccine, respectively, at 3、4、5月 age and 18-24 months of age inoculated Shize vaccine, the two have no overlap between the time. The joint vaccine was completed at home, the executives said.There is no possibility of approval at all. In this regard, Watson said that the development of the joint vaccine is based mainly on overseas market demand. Notably, in the announcement of January 24 this year, the company said the combined vaccine had already been sold abroad, while the company's 2013.5 annual report showed that only the Russian market was contributing revenue. "Since the listing, Watson's biological vaccine story has been suspected of ' Gao '." Erics, a snowball investor, said in a prospectus in 2010, Watson said that it had developed 13 vaccine products in 9 years, and that more than 10 products were undergoing preclinical studies, "however, many of the vaccines were ' accidentally ' withdrawn". Public information shows that May 16, 2011, Watson Biology released a succession of announcements, announced the cessation of the pika nasal mucosal immune influenza split vaccine research and development, terminated with GlaxoSmithKline Gill wind vaccine project, and stopped with Changchun Hua Pu "Synthetic single chain oligonucleotide booster Rabies vaccine efficacy" project cooperation March 2012, withdrew the "9-valent pneumococcal polysaccharide conjugate vaccine" Application for the clinical trial. "In fact, some project companies may know very little about the operation before they go public," he said. "One industry personage who declined to be named said that the company said that the reason for the termination of the GlaxoSmithKline-Gill vaccine project was that it contained antibiotics, inconsistent with the requirements of the People's Republic of China Pharmacopoeia (version 2010) and failed to obtain approval from the state Food and Drug Administration. "But the Pharmacopoeia was enacted in December 2009. "The vaccine market looks very beautiful/the same as the development of the vaccine project has been reversed, Watson's biological performance is constantly refreshing the lower limit." Data show that in 2010, 2011, 2012 and the first half of 2013, the year-on-year growth in net profit was 102%, 34%, 12.17% and 28.7% respectively. It is a matter of concern that, contrary to the research report published by the CIC consultant, Watson's growth rate is down in the seemingly flourishing industry. However, Tianjin Concino Biotechnology Co., Ltd. chairman Yu-Feng to the "Daily economic news" Reporter said that China's vaccine market to imitation, the kind of homogenization of serious, and the international market still has a huge gap. The various manifestations of Watson's biology are but a mirror of the industry. The reporter learned that in the case of influenza vaccine, China's 36 vaccine production enterprises have 12 enterprises in production, there are also 6 enterprises under construction, in addition, rabies vaccine, hepatitis B vaccine, hepatitis A vaccine are also a phenomenon, including Guizhou Lark, Chongqing Beer, Watson Biology, Hualan Biological and other listed companies are involved in hepatitis B vaccine research and development. According to Watson Biology 2013.5 Annual report, has entered the registration phase of the vaccine in the 16, mainly for hepatitis B, pneumonia, meningitis, typhoid, tetanus and so on. Reporter survey found that the above-mentioned vaccine project part of the problem with the market demand is disjointed. According to Watson's bio-disclosure information, ACYW135 Group meningococcal polysaccharide conjugate vaccine, ACYW135 group meningococcal-BHaemophilus influenzae type Haemophilus polysaccharide combined vaccine is mainly used to prevent meningococcal a group, C Group, y Group and W135 group meningitis-induced epidemic cerebrospinal meningitis, and according to China's cerebrospinal meningitis vaccine disease survey found that cerebrospinal meningitis is mainly a brain and C-brain, W135 type is less than 20 cases, lack of market base , and its research and development of the Typhoid VI polysaccharide vaccine, also rare case support. "Typhoid vaccines do not seem to be routinely administered, and they are hard to sell," he said. Said the industry personage who did not want to be named. "In addition to the demand, the market also needs to differentiate competition." "Yu study peak said." In fact, the reason Watson was withdrawn from the 9-valent pneumonia vaccine was that the product had a higher alternative to its 13-valent pneumonia vaccine. "Daily economic news" reporter comb Watson Biology in the research and sale of vaccine products found, ACYW135 group meningococcal-B haemophilus influenzae-type Hib polysaccharide binding vaccine and ACYW135 group meningococcal polysaccharide conjugate vaccine, recombinant (Hanson yeast) hepatitis B vaccine and CPG adjuvant enhanced hepatitis B vaccine, There is an alternative between the adsorption of acellular white-breaking combined vaccine and the adsorption of acellular white-breaking recombinant hepatitis B vaccine. Remarkably, homogenization between products has stalled the performance of Watson's biology. According to the report, the first half of the year, the number of Hib vaccine was 28.27% lower, the pre-irrigation package growth 185.75%;AC combined with the number of vaccine issued year-on-year reduction of 57.19%, AC polysaccharide vaccine and ACYW135 vaccine batch issued 3.8389 million doses and 1.2104 million doses respectively, the main product market space and no major breakthroughs. The "Big life" strategy is poor/In fact, Watson's biology has been favored by the capital market vaccine concept, its description of the future has been difficult to conceal the state. The unnamed industry insiders said the vaccine market is becoming more and more competitive, Watson Bio-Hib vaccine has now exceeded the competition situation, the future revenue growth will further slow down, the company's heavy reserves of 13-price pneumococcal conjugate vaccine and 23-valent pneumococcal polysaccharide vaccine, is also in the declaration of Clinical approval and clinical Serum sample testing phase, and the type of vaccine products company since September 2004 has been put into research and development, research is difficult. The slump in the vaccine industry has forced Watson to transform the "great creature". Daily economic news reporter found that since 2012, through the acquisition of Hebei Daan Pharmaceutical, Shanghai Lush, Shanghai ze-run biological three pharmaceutical companies and Ningbo Puno, Putian Shengtai, Shandong Real Jay Three vaccine marketing enterprises, the total cost more than 2 billion yuan to build a "vaccine + blood products + single resistance" of the big biological strategy. However, the huge investment in the "big biological" strategy in the Watson Biology semi-annual report does not give the force. During the reporting period, Daan pharmaceutical loss of 9.1525 million yuan, Shanghai Ze run loss of 26.4062 million yuan; although Shanghai has 6 single resistant products, but in the research and development process, the short-term need for capital investment. Meanwhile, as of June 30 this year, Watson bio 2.375 billion yuanThe listing is only 506 million yuan, and cash and cash equivalents have also fallen to 843 million yuan. The reporter noted that the cash flow of tension, has made Watson unbearable burden, plans to issue 2.5 billion yuan debt financing bill to reduce pressure. "The distribution of blood, the single resistance field, can improve the company's single source of profit, but the problem is that its approach is somewhat radical." The industry said that from the point of view of the industrial chain, this year cost 762.5 million yuan to buy three vaccine marketing enterprises, the "research-production-sales-circulation" of the whole industry chain is a major supplement, but according to the company's current research strength, the next 5 years also difficult to develop the world's leading innovative products, "so early layout, May be a waste of the company's resource utilization.