Analysis of the status quo of pharmaceutical raw materials market

I. Overview of the international API market

With the rapid development of the global economy and the advancement of science and technology, the production of fine chemical products and chemical raw materials has entered a mature stage. After entering the 21st century, the development of medicine is not based on the general technical level, but more importantly, it relies on new breakthroughs in science and technology. To date, there have been more than 10 million synthetic compounds in the world, and sales of fine chemicals have reached 50 billion US dollars, with an annual growth rate of about 5%. Among them, pharmaceutical intermediates and chemical raw materials have dominated. The chemical raw materials industry is an important foundation of the pharmaceutical industry. The world has produced more than 2,000 kinds of raw materials, and the market scale has expanded from nearly 10 billion US dollars in 1996 to 13 billion US dollars in 2000, increasing by about 7% every year. 60% of the chemical raw materials and intermediates required by foreign pharmaceutical preparation manufacturers are produced by outsourcing or contract.

The world's major raw material drug production areas are: Western Europe, North America, Japan, China and India. Among them, Western Europe is a pure export area of raw materials. At present, the total output value of raw materials is close to 6 billion US dollars. It is the world's largest raw material drug production base, accounting for 50% of the global total, while exports account for more than 80% of its total output. . North America is the main importer of APIs. The region consumes about 4 billion US dollars of raw materials per year, accounting for 1/3 of the world's API market. Due to environmental reasons, many of the most polluting APIs have been in the region. No longer produced, half of its raw material consumption is self-produced, and another 50% is imported.

In recent years, North America has to import hundreds of APIs worth more than US$2 billion, and its dependence on imports has gradually increased. The region's production accounts for only 18% of the global total. Japan is a powerful country in the world's pharmaceutical industry. Its API market is between the United States and Western Europe. The annual demand is about 1.5 billion US dollars. At present, except for a very small number of varieties, most of them are produced by their own countries. It is predicted that with the With the rise in labor costs and the emergence of environmental problems, Japan will shift to a purely importing country of raw materials and is currently in a state of self-sufficiency.

With the continuous improvement of domestic production technology, the improvement of pharmaceutical equipment, and the seizure of raw materials for joint venture pharmaceutical companies to the Chinese market, the world's API production centers have gradually shifted to Asia. The production of APIs in China and India is rapidly emerging. India's production and import and export volume is comparable to that of China, and it is China's largest competitor in the international market for APIs.

2. Overview of the production and sales of raw materials in China

At present, China's pharmaceutical production is among the highest in the world. Nearly 1,500 kinds of chemical raw materials can be produced, with a total output of 430,000 tons, of which more than 50% are exported. The annual average export volume is 2.2 billion US dollars, ranking second in the world. United States. The production of APIs accounts for about 22% of the world market share of APIs. Chemical raw materials have become the mainstay of China's pharmaceutical industry, accounting for about one-third of the world's pharmaceutical industry, with an average annual growth of 11% in the past 10 years.

The main problem of China's API manufacturing enterprises is that production costs are still too high and profit margins are relatively small. Usually, the cost of API production of multinational companies accounts for 25% of sales, while domestic companies generally range from 50% to 60%.

At present, some products in China have advantages in the international market, such as bulk products, antibiotics/antibiotics. Because of the complete range of antibiotic products in China, penicillin, tetracycline, chloramphenicol and other products have comparative advantages; vitamins, China is the largest in the world. The production and export of vitamin products, the most important of which is vitamin C; the second largest drug substance after vitamin C is antipyretic and analgesic; citric acid, dexamethasone, due to the price than the international average price Low 30% to 40% can occupy a certain market share in the international market.

With the opening of the pharmaceutical industry to private capital, an important force in the production of chemical raw materials in China, in the coastal areas of Taizhou and Fujian, Zhejiang, a group of competitive chemical raw material manufacturing enterprises are booming and become the production of chemical raw materials in China. a new army. Major domestic enterprises are also expanding their production scale. For example, Tianjin Zhongjin Pharmaceutical Co., Ltd. cooperates with BASF in Germany to prepare the world's largest VB1 production base.

Third, China's API market competitive advantage

3.1 antibiotics raw materials

China has an advantage in penicillin G, tetracycline, oxytetracycline, gentamicin, kanamycin, lincomycin (lincomycin), streptomycin and other large-scale fermentation antibiotic products. China's antibiotic fermentation technology is advanced, technical grades, quality standards, and clinical effects have reached the world's advanced level, coupled with lower labor costs, China's antibiotic raw material export products are very popular in the European and American markets. Many of the listed companies in the Shanghai and Shenzhen pharmaceutical companies are involved in the production of antibiotic bulk drugs, but the largest and most advantageous are North China Pharmaceutical, Lukang Medicine and Harbin Pharmaceutical Group. The three major antibiotic listed companies have similar and different characteristics in their products.

North China Pharmaceutical is currently the largest antibiotic production base in China. It has two of Asia's largest penicillin powder injection workshops and is a global leader in penicillin production technology. Harbin Pharmaceutical Group's annual production capacity of antibiotic raw materials is the second in the country. In the market share of some cephalosporin raw materials, Harbin Pharmaceutical Group is dominant. The technology and production capacity of the - 6 APA, -7ACA, and -7ADCA three antibiotic mother cores are the highest in the same industry in the country. Last year, it completed projects including 200 tons/year--7ACA and series, 1200 tons/year penicillin potassium, semi-synthetic penicillin expansion and cephalosporin series product modification, which provided conditions for expanding scale and reducing costs. As one of the four major antibiotic raw material production bases in China, Lukang Pharmaceutical has a high overall asset quality. After two years of new construction and technological transformation, the two major projects of “thousand tons” penicillin production line and “double plus” project cephalosporin series have been completed. And put into production, bringing benefits to the company. Earlier, Lu Kang invested 380 million yuan to carry out technological transformation of spectinomycin, biological antibiotics (colistin sulfate, etc.) and cephalosporin antibiotic intermediates, so that the three major categories of "main" products maintained a monopoly position in the market.

3.2 Vitamin C drug substance

The vitamin API market has picked up. Vitamin C prices have gradually recovered from a minimum of $2.7/kg to around $3.1. This is mainly because: First, VC raw material medicine has a high concentration of production and advanced technology, thus forming a scale advantage, and supply and demand are also close to balance; second, after joining the WTO, the quota license is cancelled for VC raw materials, which is beneficial to VC enterprises. The pricing of products; third, long-term price competition has prompted some international large VC companies to withdraw from the VC raw material market.

At present, China's VC export enterprises include Northeast Pharmaceutical Factory, North China Pharmaceutical Factory, Shijiazhuang Pharmaceutical Factory and Jiangsu Jiangshan Pharmaceutical Company. Among them, Northeast Pharmaceutical and North China Pharmaceutical have been listed. The VC integrated technology of North China Pharmaceutical has reached the international advanced level, and its market share of VC raw materials is close to one quarter in China.

The leading domestic vitamin C leader is the Northeastern medicine, and its vitamin C production capacity ranks third in the world. However, the performance of Northeast Pharmaceuticals is worrying. The economic benefits in the first half of 2003 have been seriously deteriorating, and the net profit has dropped by about 78% compared with the same period of last year. This performance is contrary to the recovery of the entire industry and is more serious. The amount of the arrears of the controlling shareholder is huge. The most urgent thing for Northeastern medicine is to effectively solve the problem of the arrears of the parent company, and strengthen internal management and get out of the predicament.
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