Sniper

The Report is produced in Chinese only.

昔日報告:
  29-04-2024 (星期一) “以舊換新”靴子落地,車市或迎小陽春
  02-04-2024 (星期二) 品牌服飾與鞋類正進入補貨週期
  11-03-2024 (星期一) 新一輪以舊換新政策或提振市場情緒
  27-11-2023 (星期一) 試點開始,智能網聯汽車關注度提升
  06-11-2023 (星期一) 2023 年第三季全球 PC 出貨量再次下降
[第1頁 / 共66頁]

關注OTC零售藥品市場提價機會

自中國政府不再實行最高零售價管理(《關於印發推進藥品價格改革意見的通知》),藥品實際交易價格由市場競爭形成,對醫保範圍內的OTC藥品,藥企可自主定價。根據南方所的資料,自2016年以來,全國中西藥品及醫療保健用品類商品零售價格指數逐漸走高。受益消費升級及通脹,在處方藥受招標降價的大環境下,品牌 OTC 卻在漲價。建議關注擁有優質OTC品牌藥品的醫藥企業,例如中國中藥(570HK)、葵花藥業(002737SZ)。

中國中藥擁有12個核心OTC品種,2017年核心OTC產品的收益同比增長28%以上。公司採取大品種培育策略,升級戰略產品的包裝,加強對OTC產品的市場策劃,品牌建設,和與大型連鎖藥房的合作,為成藥業務注入新動力。葵花藥業聚焦品牌兒童藥,著力產品儲備及市場培育,經過2016年銷售管道整頓情況,市場庫存低。當期公司進入拐點期,未來3年品牌兒童藥有望量價齊升,業績有望持續25-30%高速增長。公司產品線豐富,有小兒肺熱咳喘口服液、小兒柴桂退熱顆粒、小兒氨酚黃那敏顆粒等系列兒童藥,以及“小葵花”兒童藥著名品牌。

撰稿: 周霖研究分析員
電話:
+852 2277 6515

電郵地址:
euruszhou@phillip.com.hk
This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
Top of Page
Contact Us
Please contact your account executive or call us now.
Research Department
Tel : (852) 2277 6846
Fax : (852) 2277 6565
Email : businessenquiry@phillip.com.hk

Enquiry & Support
Branches
The Complaint Procedures
About Us
Phillip Securities Group
Join Us
Phillip Network
Phillip Post
Phillip Channel
Latest Promotion
E-Check
Login
Investor Notes
Free Subscribe
Contact Us