subject: Successful Transformation Of The Sea Is Pharmaceutical R & D Anti-infective Areas - The Sea Is [print this page] Founder Securities issued on June 17 Investment Report, to the sea is Pharmaceutical (600267.SH) "overweight" rating.
Recent years, the sea is out of the traditional Chinese medicine API Production of low margin business and strong industry cycle characteristics, in preparation of and under the guidance of international strategy, blazed a new path of development, the company ushered in a new breakthrough. Companies supply nearly 80% of export products, main products are divided into agents, anti-infectives, cardiovascular drugs, antiparasitic and endocrine drug for several categories, is our production base of antitumor drugs.
Energy company focused on the sea are unique professional preparation business, in the antitumor, anti-infectives development of the leading varieties in the field, increase Marketing Intensity. The first quarter of 2009, the company achieved operating income rose 5% to 8.5 billion, net profit up 11% to 049 million yuan, 0.11 yuan per share. Domestic agents Sell The rapid growth as the main driving force to enhance performance of the company will be bigger and stronger company in the future the existing dominant species, develop new products and expand the export of agents of agents such as work continues to intensify efforts to open up. With Cooperation Negotiation and certification of progress, some orders for second half of 2009 the company started, revenue growth is expected to improve.
In international cooperation, has received Eli Lilly Capreomycin free transfer of technical and financial support, and partnership with the United States to vancomycin Ya project, construction companies with Spanish Feima project preparation workshop The company is rapidly becoming an international Medicine Transfer of the global pharmaceutical giants the best choice. Company is currently building production bases in Fuyang, in accordance with China, the United States and the European Union three standard construction, will be at the same time meet the multiple requirements, which will greatly enhance the level of the company's production capacity, technical capability and capacity of the international certification.
Current influenza H1N1 Influenza HIV epidemic continues to spread in China, as of June 2, Beijing, Fujian add new one case, 2 cases were diagnosed 36 cases of the mainland, most influenza cases imported. Although Founder Securities is confident the epidemic will not spread to large areas of China, but that should still make prevention and control measures, the reserves of therapeutic drugs. Duffy Is earmarked for the international treatment of influenza infection specific drugs. But domestic production of Tamiflu in bulk drug and pharmaceutical companies only a handful of agents, only two, the supply is greatly less than the demand. Therefore, the sea is declared Duffy API intermediates oseltamivir phosphate production projects, greatly solved, oseltamivir phosphate in the capacity planning of the phenomenon, and as one of national unity reserve, the sea is expected to The production of intermediate demand, the project company's 2009 results are good stimulus. As for the performance of the growth rate depends on the production of intermediate as well as the number of national procurement, Founder Securities, said further track.
Taking into account the company in transition, the current progress in transition smoothly transition is completed in 2010. During this period the development of international cooperation projects the company will increase investment, the three costs will increase, thus Founder Securities expects the company forecast EPS in 2009,2010 and 0.81 yuan to 0.68, corresponding to the current price-earnings ratio below the industry average , to "overweight" rating.
