The Production and Sales of Bivalent HPV Vaccine are Booming

Wantai Bio (603392.SH) announced after the market on February 14 that the company's revenue in 2021 will be 5.75 billion yuan, a year-on-year increase of 144.25%; the net profit attributable to shareholders of the listed company is 2.016 billion yuan, a year-on-year increase of 197.83%; Realized non-net profit of 1.94 billion yuan, a year-on-year increase of 214.48%.

Wantai Bio is an enterprise engaged in the R&D, production and sales of in vitro diagnostic reagents, automated testing equipment, and vaccines; the company's main products include enzyme-linked immunodiagnostic reagents, colloidal gold rapid diagnostic reagents, chemiluminescence diagnostic reagents, biochemical diagnostic reagents, and nucleic acid diagnostic reagents.

Data shows that as of February 14, 2022, a total of 9 institutions within 6 months have made forecasts for Wantai Bio's 2021 annual performance.

According to the agency's forecast results, the company's 2021 revenue (average) is expected to be 4.822 billion yuan, and the company's 2021 attributable net profit (average) is expected to be 1.65 billion yuan.

From a quarterly perspective, Wantai Bio also achieved high growth.

According to preliminary estimates by a reporter from the Economic Information Daily, in the fourth quarter of 2021, Wantai Bio achieved revenue of 2.154 billion yuan, a year-on-year increase of 185.34%; realized attributable net profit of 828 million yuan, a year-on-year increase of 293.79%; realized non-net profit of 786 million yuan , a year-on-year increase of 363.27%.

Wantai Bio said that the main factors affecting its business performance are that the company's bivalent cervical cancer vaccine continues to maintain a boom in production and sales, and its revenue and profits grow rapidly; as the new crown pneumonia epidemic has not been effectively controlled, the overseas testing demand has increased significantly, and the company's new crown raw material sales And the export revenue of overseas testing reagents has achieved rapid growth.

It is worth mentioning that at present, there are four HPV vaccines approved for marketing in my country, including Wantai Bio’s bivalent vaccine, GlaxoSmithKline’s bivalent vaccine, and Merck’s quadrivalent vaccine and nine-valent vaccine. Vaccines have long been in a state of "one vaccine is hard to find".

As the first HPV vaccine approved for marketing in China and the third in the world, Wantai Bio's domestic bivalent HPV vaccine has been on the market since its launch in 2020, and has quickly seized the grassroots market with the advantages of cost-effectiveness and younger age groups.

According to the batch issuance data released by the China Inspection and Quarantine Institute, the batch issuance of Wantai Bivalent HPV vaccine in 2020 will reach 2.46 million, and the batch issuance in 2021 is expected to be about 10 million. In 2021, the total number of batches of four HPV vaccines in China will be about 27 million, of which Wantai Bivalent HPV vaccine accounts for about 37%.

However, the subsequent HPV vaccine market competition will become more intense.

Watson Bio disclosed in its 2021 semi-annual report that in July 2021, the company's bivalent HPV vaccine was included in the list of priority review varieties, and the relevant review work is in progress; at the same time, Watson Bio's nine-valent HPV vaccine is in Phase III Various preliminary preparations for clinical research; in addition, domestic companies such as Shanghai Bowei and Recreation Guard are also competing to develop quadrivalent and nine-valent HPV vaccines.

Wantai Bio is also actively developing and deploying related blockbuster products.

The announcement previously issued by Wantai Biotech showed that the Phase III clinical trial of the company's nine-valent cervical cancer vaccine was progressing smoothly. The nasal spray new crown vaccine is in phase II clinical trials.

In October 2021, Wantai Bio announced that it planned to raise no more than 3.5 billion yuan to invest in the second-phase expansion of the nine-valent cervical cancer vaccine, the industrialization of the twenty-valent pneumococcal polysaccharide conjugate vaccine, and the nasal spray vaccine industry. Base construction and other projects.