The 9.2 billion New Crown Special Medicine Orders Stunned the CDMO Leader, and This Year's Revenue will Surge by 200%?

On the afternoon of February 20, Asymchem issued an announcement that the company continued to provide contract custom development and production (CDMO) services for a small molecule chemical innovative drug of a pharmaceutical company.

Recently, Jilin Asymchem, a wholly-owned subsidiary of the company, has Co., Ltd. and customers signed a new batch of "Supply Contracts" for related products. The contract value is equivalent to about 3.542 billion yuan. The new supply contract has come into effect after being signed and sealed by both parties.

Pfizer: "You can directly report my ID card."

The announcement shows that the contract supply time is 2022, which means that this revenue will be reflected in the 2022 performance.Before receiving the above contract, Asymchem has won two consecutive large orders:

On November 17, 2021, a US$480 million small molecule drug supply contract was signed, and the contract supply time is from 2021 to 2022;

On November 28, 2021, a new supply contract was signed, with a contract value equivalent to about 2.72 billion yuan, and the delivery time is 2022;

Since there is only one and a half months left in 2021 when the first contract is signed, the revenue of these three contracts will basically be realized in 2022, with a total order value of about 9.298 billion yuan.

In 2020, Asymchem's annual revenue reached 3.15 billion yuan. The order amount of these three small molecule CDMO business orders is three times that of last year's revenue, which will contribute greatly to the performance in 2022.

Pfizer's CEO said it expects to produce 120 million courses of treatment to Paxlovid by the end of 2022, with total sales expected to reach $63.48 billion. Assuming that Pfizer maintains a 50% gross profit margin, the operating cost corresponds to an intermediate and API market of $31.8 billion per year.