Financial Associated Press, November 4th (Editor Hu Jiarong)Hong Kong stock CanSino Bio-B (HK:) (06185.HK) reversed its share price today after plunging 19% yesterday, rebounding sharply in early trading, with the highest intraday gain reaching nearly 26%, but then the increase gradually narrowed. As of press time, the company rose 15% to HK$105.8; its A shares (688185.SS) rose 7.35%.
Note: The trend of CanSino Bio’s H shares in the past two days can be seen from today’s trend, CanSino Bio has not fully recovered yesterday’s decline (34.75%), but rebounded in early trading today, which may be related to the research released by investment bank Jefferies. related to the report.
According to Furui Research,The bank assumes the average selling price of the vaccine is 40 yuan per dose, and CanSino has a 50% market share with a 75% booster penetration rate in the eligible population, implying sales of 8 billion yuan。
According to the above statement, CanSino’s inhaled vaccine business can be described as a “big profit”. According to CanSino’s 2022 semi-annual report data, the total investment of the recombinant new coronavirus vaccine for inhalation is expected to be 300 million yuan, with a cumulative investment of 95.502 million yuan.
However, as a vaccine, the investment of 300 million yuan is not much. In fact, the inhaled vaccine that has recently attracted the attention of the market belongs to the same type of injection new crown vaccine “Kwesa”, which has been approved for market conditionally. In addition, the injection new crown vaccine has invested 1.014 billion yuan in research and development. This could also explain why CanSino has invested so little in inhaled vaccines.
CanSino bluntly said that inhaled vaccines will not bring significant growth in performance
However, the market effect of inhaled vaccines is still unknown.
The company’s recent announcement mentioned that based on the current immunization strategy and the high rate of domestic booster vaccination, the company does not expect that the inhalation of the new crown vaccine will not bring about a substantial increase in the company’s performance.
In fact, since 2022, the market environment of new crown vaccines at home and abroad has undergone major changes, the demand for new crown vaccines has shown a sharp decline compared with 2021, and the growth rate of global new crown vaccine vaccinations has slowed down. In this regard, Southwest Securities recently pointed out that in overseas markets, the global new crown vaccine production capacity is currently relatively sufficient.