At present, at the historical moment when the state vigorously supports the innovation of the majority of pharmaceutical enterprises, coupled with the heavy pressure of the national centralized procurement policy, most traditional pharmaceutical enterprises have chosen to transform. Due to the special industry attributes of Chinese patent medicine enterprises, innovation and transformation is imminent.
Step pharmaceutical, which focuses on traditional Chinese medicine injection at the product end, has also spent a lot of effort in transformation in the past two years, but it has not progressed smoothly due to the problems of products and “gold sales”.
According to the first quarterly report of step pharmaceutical this year, the company’s main revenue was 3.351 billion yuan, a year-on-year increase of 26.97%; The net profit attributable to the parent company was 406 million yuan, a year-on-year increase of 33.39%; The gross profit margin was 74.16%, a year-on-year decrease of 2.84%.
Especially recently, its core drugs have been withdrawn from the medical insurance catalogue of several provinces. The compound brain peptide ganglioside injection of step pharmaceutical will also withdraw from the medical insurance catalogue of Shandong Province on November 1, 2021.
Core drugs are transferred out of medical insurance
According to public information, on July 7 this year, two exclusive injections of step pharmaceutical, compound brain peptide ganglioside injection and Guhong injection, withdrew from the Yunnan provincial medical insurance catalogue; On July 22, step pharmaceutical announced that its Guhong injection was withdrawn from the medical insurance catalogue of Hebei Province.
Guhong injection is used to treat cerebrovascular diseases, such as cerebral insufficiency, cerebral thrombosis, cerebral embolism and cerebral hemorrhage; It can also be used to treat coronary heart disease, vasculitis and other diseases.
In 2020, the operating revenue of Guhong injection was 1.922 billion yuan, accounting for 12.03% of the total revenue of step pharmaceutical. The operating income in Hebei Province is 216 million yuan, accounting for 1.77%; In Yunnan Province, the operating income was 66.8419 million yuan, accounting for 0.42%.
In addition to Guhong injection, Yunnan Medical Insurance catalogue also called out compound brain peptide ganglioside injection. It is reported that compound brain peptide ganglioside injection is the exclusive variety of step pharmaceutical. It is used to treat stroke, Alzheimer’s disease, brain injury, spinal cord injury and traumatic peripheral nerve injury. It is also used to treat dysfunction caused by brain diseases. The revenue of step pharmaceutical’s product in 2020 is 1.244 billion yuan; Among them, the revenue in Yunnan Province is 4.0756 million yuan, accounting for 0.03% of its total revenue; Shandong’s revenue accounted for 7.78% of the annual revenue. The withdrawal of core products from the medical insurance catalogue of several provinces will cause serious harm to the annual revenue of step pharmaceutical.
Insiders speculated that the reason why compound brain peptide ganglioside injection was transferred out of the medical insurance catalogue is likely to be related to its serious side effects. Because it is reported that many patients developed Guillain Barre syndrome after using drugs containing “gangliosides”, resulting in soft limbs and paralysis in bed. The compound tripeptide injection and compound brain peptide ganglioside injection produced by step pharmaceutical contain “ganglioside”. Therefore, compound tripeptide injection also has the risk of being transferred out of the medical insurance catalogue. The revenue of the product in 2020 is 253 million yuan.
In fact, there are signs that the products have been pulled out of the medical insurance catalogue《 The daily financial report found that Danhong injection, another exclusive product of step pharmaceutical, was listed in the key monitoring list for a long time, and was warned (strictly monitored) and restricted for use at least 26 times in 11 provinces (autonomous regions and cities).
In fact, traditional Chinese medicine injection has always been a controversial topic in the field of medicine. Some people regard it as a measure of the “modernization” of traditional Chinese medicine, but its frequent side effects also make many medical experts criticize its safety and abuse. Some people have made a vivid analogy. Glucose can provide body energy and can be injected directly. However, if you inject grape juice, I’m afraid no one dares to do so. As long as you have basic medical knowledge, you can understand the principle.
article links：Core products are transferred out by medical insurance
Reprint indicated source：Shine Trader Limited Live information