Analysis of the biggest producer of vaccines on coronavirus in China

Jiffy Bio

Jiffy Biotech has built an extensive vaccine product line with its "self-developed + agent" model. Founded in 2002, the company launched two vaccines in 2008 and was successfully listed on the GEM in 2010.

As one of the biggest producer of vaccines, through its first-class marketing and fulfillment capabilities, the company exclusively represents five products of Merck Sharp & Dohme, mainly Merck Sharp & Dohme's quadrivalent human papillomavirus vaccine (brewer's yeast), nine-valent human papillomavirus vaccine (brewer's yeast), oral pentavalent live attenuated rotavirus vaccine (Vero cells), 23-valent pneumococcal vaccine (Vero cells) and 23-valent pneumococcal vaccine (Vero cells). The company has also been developing its own vaccines, such as the 23-valent pneumococcal polysaccharide vaccine and inactivated hepatitis A vaccine (human diploid cells). At the same time, through independent research and development, a total of six self-developed vaccine products have been approved for marketing or emergency use, including recombinant coronavirus vaccine (CHO cells), recombinant Mycobacterium tuberculosis fusion protein (EC card), ACYW135 polysaccharide vaccine, AC influenza conjugate vaccine, Hib vaccine, and Mycobacterium bovis for injection (microcard).

HPV vaccines are driving the company's rapid growth. Merck Sharp & Dohme's (one of biggest producer of vaccines) quadrivalent HPV vaccine and nine-valent HPV vaccine were approved for marketing by the State Drug Administration in May 2017 and April 2018, respectively. In March 2021, the company's recombinant coronavirus vaccine was approved for emergency use and started to contribute to the results.

From 2016 to 2020, the Company's total revenue will grow from RMB446 million to RMB15.190 billion, with a CAGR of 141.58%; the Company's net income will grow from RMB33 million to RMB3.301 billion, with a CAGR of 216.25%. The high growth of revenue and net profit was mainly due to the exclusive agency agreement signed between the Company and Merck Sharp & Dohme in 2018, which made the Company the exclusive domestic agent of Merck Sharp & Dohme quadrivalent and nine-valent HPV vaccine products.

KangXinuo

As one of the biggest producer of vaccines, the company's R&D team brings together a number of senior scientists and senior experts in the vaccine industry, led by a group of senior scientists in the vaccine field and senior technical experts with years of experience in large international pharmaceutical companies. Under the leadership of a group of senior scientists in the vaccine field and senior technical experts with many years of experience in large international pharmaceutical companies, the company is rapidly advancing the development of a series of innovative vaccines in China. The Company has developed and mastered a number of proprietary technologies and production processes that are difficult to break through in vaccine development. With the above technology platform, the company is gradually developing 15 innovative vaccine products for 12 indications, including meningitis, Ebola virus, Pepto-Bismol, pneumonia, tuberculosis and herpes zoster.

Watson Bio

A leader in the development of mRNA vaccines in China. The company was founded in 2001 and listed on the GEM in 2012. Since then, the company has been committed to becoming a comprehensive biopharmaceutical company and the biggest producer of vaccines, implementing a diversification strategy and entering the fields of blood products, vaccine distribution, drug distribution and monoclonal antibodies through mergers and acquisitions. Since 2016, the company has made strategic adjustments and gradually started to divest other businesses and return to its core business of vaccines. After years of development, the company has built a leading R&D and industrialization technology platform in China, and has formed a product pipeline with excellent structure and rich varieties, owning the world's two most important vaccine varieties, 13-valent pneumonia conjugate vaccine and HPV vaccine, and the mRNA vaccine under development is the leading one in China and is expected to be approved first.

From 2016 to 2021, the Company's revenue will grow from RMB 591 million to RMB 3.463 billion, with a CAGR of 42.42%. The Company's net profit fluctuates, mainly because the Company further optimizes and adjusts its business segments according to market changes and the Company's overall development strategy, focusing on the development of its core business with superior resources, and divesting and selling its blood products, pharmaceutical distribution and monoclonal antibodies businesses.

A number of coronavirus vaccines are under development, and mRNA vaccines are expected to be the first to be approved. The company has laid out three coronavirus vaccine R&D lines: (i) the mRNA coronavirus vaccine in collaboration with Suzhou Aibo Bio is currently in Phase III clinical research; (ii) the chimpanzee adenovirus vector coronavirus vaccine is in Phase II clinical research; (iii) the recombinant subunit coronavirus vaccine (CHO cell) developed by Shanghai Zerun is currently in Phase II clinical research; and (iv) the recombinant subunit coronavirus vaccine (CHO cell) developed by Shanghai Zerun is in Phase III clinical research. CHO cell) developed by Shanghai Zerun is currently in Phase II clinical study. The company has cooperated with Suzhou Aibo Bio to develop mRNA coronavirus vaccine in Kyoto, which is the leading vaccine in China and is expected to be approved in the future, which is expected to bring greater flexibility to the company's performance.