Wuyuan Pharmaceuticals currently focuses on semi-synthetic penicillin compound preparations

Wuyuan Pharmaceuticals mainly focuses on R&D, production, and sales of anti-infective drugs, and it is now competitive in the new generation of penicillin. The main products include Mezlocillin Sodium and Sulbactam Sodium for Injection, Amoxicillin Sulbactam Sodium for Injection, Potassium Amoxicillin and Clavulanic Acid Potassium Tablets, Amoxicillin Sodium Clavulanate for Injection, and Merlot for Injection Xilin sodium, azlocillin sodium for injection, aztreonam for injection, metronidazole phosphate disodium for injection, etc., among which amoxicillin sodium sulbactam for injection and metronidazole phosphate disodium for injection are the first in the country. Listed on the market for new drug types, Aztreonam for injection is the first approved generic drug in China.

The company has five anti-infective drug varieties in the market share of the top three in the country, in 2009 has been among the national penicillin market and semi-synthetic penicillin compound preparations in the top ten markets. Weng Zhangguo and other 6 people collectively hold 64.17% of the shares before the issuance, which is a common controlling shareholder and actual controller.

From 2008 to 2010, the combined growth rate of operating income and net profit reached 25.3% and 91.9%, respectively. The operating income in 2010 was 319 million yuan, an increase of 31.2% over the previous year; the net profit was 0.48 billion yuan, an increase of 66.0% over the same period last year.

The proportion of anti-infective drug income has been around 80%. Among them, Mezlocillin Sodium and Sulbactam Sodium for Injection, Amoxicillin Sulbactam Sodium for Injection, and Aztreonam for Injection are the company's current main varieties.

The anti-infective drug market will maintain an annual growth rate of more than 10% in the future. The company's strategy focuses on semi-synthetic penicillin compound preparations with good anti-bacterial resistance. The market share rose from 3.79% in 2007 to 4.71% in 2009. The main varieties of mezlocillin sodium sulbactam sodium, amoxicillin sodium sulbactam sodium market share ranked second in the country.

Competitive Advantages: 1. The company cuts into penicillin compound preparations, and will benefit from industry policy guidance in the future; 2. Has a certain level of R&D strength and a rich product group; 3. “Fine Value-creating Investment Model” has unique features.

The company's fundraising projects are mainly used for the expansion of production capacity of penicillin powder injection, non-cough oral preparation, and fosfomycin tromethamine raw material.

Operational risks: risk of new product development and marketing, risk of competitive product market, fluctuation of raw material price, risk of price fluctuation of raw materials, risk of changes in basic pharmaceutical system policies Investment advice: It is expected that the company's 11-13 years eps will be 0.41/0.59/0.72 yuan respectively. , We believe that the company's valuation level of 22-27 times 2011 in the PE is more reasonable, the expected inquiry range is 9.02 ~ 11.07.

Orthopedic Surgery Accessories

Spine Frame,Spine Surgery Support,Spine Surgery Frame,Surgery Knee Knife Holder

NINGBO TECHART MEDICAL EQUIPMENT CO.,LTD , https://www.techartmed.com

Posted on