In May of 20021year, the market value of Changchun Hi-Tech exceeded 2 1000 billion, reaching its peak. Its core product is only one, growth hormone. A few thousand needles cost only a few tens of dollars. China's growth hormone market is less than 654.38+000 billion, but Changchun Hi-Tech has born the myth of 100 billion market value.
In the eyes of capital operators, it has a perfect story, choosing a small track and continuous capital rotation. Leijin, the second largest shareholder of Changgaoke, has brought technology and capital into full play.
Four months later, the myth was shattered. Guangzhou Alliance Group brought growth hormone into collective procurement and officially announced the end of the era of growth hormone profiteering. Within a few days, Changchun Gaoxin, a high-priced blue-chip stock known as "Northeast Yaomao", fell for three consecutive times. Four trading days, swept away 33 billion market value.
Compared with growth hormone, a drug known to Chinese people in recent years, well-known brands such as Gaizhonggai and Sanjing were born in Northeast China, while established pharmaceutical companies such as Harbin Sixth Pharmaceutical Factory and Northeast Pharmaceutical Company once became well-known domestic advertising manufacturers, leading all the way.
In the 1990s, starting from Jiulong, Shenyang, Northeast pharmaceutical companies started an era with advertisements, and Harbin No.6 Pharmaceutical Factory, Harbin No.3 Pharmaceutical Factory and Sunflower Pharmaceutical Company copied this trick and reached its peak.
When the pharmaceutical companies in Northeast China smashed 65.438+million advertisements, the income reached 654.38+0 billion; Sun Piaoyang decided to buy the patent right of an anticancer drug from the Institute of Pharmacology of China Academy of Medical Sciences at Lianyungang Pharmaceutical Factory, Jiangsu Province, which is on the verge of bankruptcy and mainly produces raw materials.
After a series of policies such as 20 1 1 anti-antibiotic order, 20 15 new advertising law, and new medical reform that strictly restricts auxiliary drugs were promulgated, these time-honored enterprises, which are used to a comfortable life, realized that times have changed.
20 19 procurement with quantity has dealt a great blow to established pharmaceutical companies with weak competitiveness and few pipelines. Even Changchun Gaoxin and Shenyang Sansheng, two pharmaceutical companies with unique product advantages in Northeast China, are mired in a quagmire because of their single variety.
In the advertising era of health care drugs, "R&D can't see the performance in the short term, but marketing can see the performance immediately", which is the thinking logic of the leaders of state-owned enterprises.
Therefore, when there are thousands of marketing personnel in a top three pharmaceutical state-owned enterprise in Northeast China, there are only 300 R&D personnel. Under such circumstances, even if every Northeast enterprise's external brochure says "the company vigorously strengthens R&D", it is just empty talk.
Innovation does not belong here. In the context of the decline of GDP and the continuous net outflow of population in the whole Northeast, few people who are truly adventurous and innovative are willing to take root in the Northeast. A medical headhunter said that even if talents go to the northeast because of high salary, they will leave quickly because no one is available.
It used to be an attractive black land, but because of solidification and conservatism, pharmaceutical companies entered a period of fierce struggle, mixed with the decline of the northeast economy, showing great pain.
Pharmaceutical companies that missed the transformation in their heyday tried to save themselves during the decline in performance, and tried the road of mixed reform, but they stepped on the wrong point, stepped on it slowly, and the opportunity was no longer changed, and finally missed an era.
As a unique pharmaceutical group in Northeast China, Changchun Hi-Tech has abundant cash flow and a good life. Even competing companies admit that Changchun's high-tech products are excellent in technology and quality. However, depending on a single product, the stock price plummeting and falling seems to be an early warning of "smallpox", and the toxicity will inevitably occur. This may be an opportunity to survive, or it may be the fall of the last "giant" in Northeast China.
0 1
The glorious history of pharmaceutical industry in the era of advertising bombing
On August 20 10, on the green leather train from Jiamusi to Harbin, Li Jiang looked forward to the golden age of his career. As the train sped by, a whole new world appeared on the horizon. In a few hours, he will join Harbin Pharmaceutical Group.
At that time, he didn't know that this was the last glory of Harbin Medicine.
Before Shanghai, Guangzhou and Shenzhen became mainstream economic zones, Harbin Pharmaceutical Co., Ltd. was also called "the eldest son of the country". Although the once enviable housing distribution and mink welfare of Harbin Pharmaceutical Co., Ltd. has become a thing of the past, at that time, the income of a salesperson of several hundred thousand a year still far exceeded the local income level, which was extremely impressive.
As the first listed company in the national pharmaceutical industry, Harbin Pharmaceutical Co., Ltd. is also the best pharmaceutical company in the A-share market. In the hearts of Heilongjiang people, it is like Alibaba in today's Zhejiang.
This is also the case. The aura of Harbin Pharmaceutical attracts graduates who come here from Jiamusi Medical College every year. They keep pouring into this state-owned enterprise, working step by step from the grassroots to the management.
Harbin medicine is a huge "medicine empire". In addition to Harbin Pharmaceutical Factory, there are Harbin Pharmaceutical No.6 Factory, Sanjing Pharmaceutical, Tang Shiyi and other branches, including pharmacies and commercial distribution.
On the one hand, the rise of this "business empire" is inseparable from advertising marketing; On the other hand, it is inseparable from the prescription drugs prescribed by hospital doctors-antibiotics.
Shenyang Longfei, which took the lead in "advertising bombing" in Northeast China, faded out of the market as early as 20 years ago. At the beginning, it was because the founder Jiang Wei borrowed from Sun God and Wahaha and relied on advertising strategy to make a fuss about health care products and medicines.
Starting from 199 1, Longfei began to advertise in some central cities in Northeast China and sub-central cities in the Yangtze River Delta.
Dragonfly's advertisement was full-page for several days in a row. 199 1 year, Longfei invested10.2 million yuan in advertising expenses, realizing a profit of 4 million yuan; 1992 advertising fee100000 yuan, the profit soared to 60 million yuan; 1993 and 1994 spent more than 1 100 million yuan on advertising, and earned 200 million yuan for two consecutive years.
Under the market atmosphere of vague advertising awareness and insufficient health awareness, the shouts of Longfei surprised the people all over the country. This also woke up the management of Harbin Pharmaceutical.
Even though Harbin Pharmaceutical is a state-owned enterprise, the essence of Northeast Pharmaceutical is that it needs to survive on its own without the strong support of local finance.
Starting from 1997, Liu rushed to the post of chairman of Harbin Pharmaceutical Group, and introduced the mode of advertising on health care products into over-the-counter drugs. From the initial newspapers and billboards, it has become the bombing of CCTV and local stations.
1997, its advertising investment in Sanjing Pharmaceutical was100000 yuan, and its sales were1000000 yuan. 1999, its advertising investment reached 200 million yuan, and its sales soared to 860 million yuan.
At that time, the Sixth Harbin Pharmaceutical Factory was unknown, but through advertising investment, by 2000, the sales reached 2 billion yuan, making it the largest enterprise of Harbin Pharmaceutical Group. Through TV advertising, it even gave birth to tens of billions of calcium supplement market. For a while, the newly covered high calcium tablets and calcium gluconate became well-known brands.
Let's look back at the product line of Northeast pharmaceutical companies. In addition to the old state-owned Harbin Pharmaceutical Factory and Northeast Pharmaceutical Company, which started with antibiotics, and the single-species enterprises with absolute advantages represented by Changchun Gaoxin and Shenyang Sansheng, there are more enterprises mainly engaged in auxiliary drugs, Chinese patent medicines and over-the-counter drugs, such as Harbin Pharmaceutical No.6 Factory, Sunflower Pharmaceutical, Jilin Aodong and Yuheng Pharmaceutical. In particular, with the advantages of Changbai Mountain drug storehouse, it has opened up a reputation in the market.
These drugs are beyond the scope of doctors' prescription rights, and advertising bombing is the fastest and most effective method. Once the brand is launched, it is actually much more convenient to import its prescription drugs.
When they dropped one blockbuster after another and put on one laurel after another, they didn't expect that the gift given by fate had already been marked with a price; What they didn't expect was that after the opening of the new medical reform in 2009, the medical insurance portfolio continued, and after the establishment of the National Medical Insurance Bureau in 20 18, the national drug centralized procurement and medical insurance catalogue drug negotiations almost reconstructed the entire pharmaceutical industry in China.
In the few remaining carnivals, over-reliance on advertising, single product structure and lack of attention to research and development have been repeatedly ignored.
0 2
Take away "gifts": antibiotics, auxiliary drugs.
20 12, a paper purchase restriction order stirred up the situation in Northeast China.
"Outsiders only know that Harbin Pharmaceutical Factory 6 and Sanjing sell well. But what really supports the performance is Harbin Pharmaceutical Factory. " Li Jiang recalled that in the first year of employment, Harbin Pharmaceutical Factory had nearly 5 billion sales revenue for antibiotics alone-accounting for nearly one third of the total revenue.
Northeast Pharmaceutical Co., Ltd., a state-owned enterprise with the same nature as Harbin Pharmaceutical Co., Ltd., successfully developed three generations of cephalosporin products, which filled the domestic gap in the 1980s. Since then, the world's largest 10,000-ton VC production line has been completed and put into production, and raw materials such as vitamin C, chloramphenicol, vitamin A, propargyl alcohol and amantadine hydrochloride have been released one after another.
In the era of lack of medical care and medicine, these time-honored enterprises, which started with antibiotics, have a decisive position in the country with the support of policies. Once we bid farewell to that era, people's medication habits were no longer limited to physiological saline and anti-infective drugs, and these pharmaceutical companies immediately lost the foundation for settling down.
This year, Harbin Pharmaceutical Co., Ltd. went downhill out of control, giving up the first place in the top 100 national pharmaceutical industries and falling to the fourth place. Now, Hengrui, the first new drug, ranked 22nd in the list of that year, and its first innovative drug "Aricoxib" was approved for listing. Since then, Harbin Pharmaceutical and Hengrui have become two parabolas that run in opposite directions.
Once a tragedy begins, it is often followed by a series of tragedies.
The environmental problems caused by the production of raw materials on which pharmaceutical companies in Northeast China depend continue. In half a year, Northeast Pharmaceutical received eight environmental protection tickets. Harbin Pharmaceutical Factory was also criticized by CCTV for its pollution problem. In the future, the state's environmental control of APIs will become more and more strict.
With the OTC banning advertising in the mass media, the gradual improvement of the new advertising law and the improvement of people's health awareness, this advertising model is no longer effective. Coupled with the introduction of policies such as medical insurance control fees and auxiliary drugs, the performance of most pharmaceutical companies in Northeast China is almost poor.
In 20 13, the performance of Sanjing plummeted by 98%, and the annual report revealed that "400 million advertising fees earned 6 million profits" became a laughing stock, and the era of building a country by advertising was gone forever. A year later, Liu Zhanbin, then the chairman of Sanjing Pharmaceutical, jumped to his death during the investigation.
Taking Heilongjiang Yuheng Pharmaceutical Co., Ltd. as an example, an orthopedic auxiliary drug named "Songmeile" opened the market for it. By the time Yuheng Pharmaceutical went public in 2009, the profit created by this product was as high as 654.38+0.57 billion yuan, which contributed almost half of the revenue.
When auxiliary drugs flooded major hospitals and occupied medical insurance funds all the year round, Yuheng took the opportunity to earn a lot of money, and its founder Zhu once became the richest man in Heilongjiang. It is precisely because of the taste of sweetness that Yuheng constantly copied the model of "purchasing auxiliary drugs and large varieties of traditional Chinese medicine injections+strong sales".
However, from 2065438 to July 2009, the National Health and Family Planning Commission issued the first batch of key monitoring catalogues, and Chinese patent medicines and auxiliary drugs were strictly restricted, making them the "hardest hit areas" to be cleared.
A year later, Yuheng embarked on the road of bankruptcy and reorganization.
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The bitter fruit of attaching importance to marketing and neglecting research and development.
20 18 centralized procurement is the last straw to overwhelm these enterprises, and even Changchun Gaoxin has not escaped this fate.
Although Changchun Hi-Tech was once known as "medicine hair", the product of growth hormone alone does not have an unshakable moat like Maotai.
A person close to Changchun Gaoxin mentioned that the rapid development of growth hormone "is because there are not many' rebate drugs' that doctors in pediatrics can choose." In recent years, with the help of pediatric drug hospital and doctor channel paved by growth hormone, Changchun Gaoxin has laid out cardiovascular medical devices, antibody drugs and children's imitation drugs around children's health care. "But it is still very slow, and there has been no result."
Changchun Hi-tech's investment in R&D is not high. According to the annual report of 2020, Changchun Hi-Tech has become a "pharmaceutical industry" with a profit of 100 times and a market value of 200 billion, but the R&D expenditure is only 680 million yuan, accounting for 7.95% of the total operating income (Hengrui accounts for about 17%)-but this time R&D investment has caught up with the pharmaceutical enterprises in Northeast China.
Some people in the local pharmaceutical industry lamented: "Changchun Hi-Tech should have increased investment in R&D, but it has undertaken many development tasks of the local government and has been restricted to some extent."
Sunflower Pharmaceutical, a leading Chinese patent medicine enterprise, invested only1.1.400 million yuan in R&D, accounting for only 3. 1.4% of the total operating income.
Harbin Pharmaceutical has even less investment in R&D.. In 2020, R&D expenditure will be 92 million, accounting for only1.65,438+05% of revenue.
Harbin medicine is not without a research and development system. Li Jiang emphasized that Harbin Pharmaceutical Co., Ltd. has a national enterprise technology center and five provincial sub-centers of research and development system, but there is no sign of innovative drugs, and it has always been mainly based on traditional Chinese medicine powder injection and antibiotics. It is precisely because there is no core product support in the follow-up that it lags behind more than one step in the track of innovative drugs.
At its peak, Harbin Pharmaceutical Group had more than 20,000 people, and the R&D team had less than 300 people.
In the opinion of an insider, in the best years, Harbin Pharmaceutical has not made much achievements in the research and development of new products, but has become more and more obsessed with marketing advertising investment. "When I realized the problem, the company was already going downhill and had no money to invest in research and development. Moreover, Harbin's fiscal revenue is not high, and it is impossible to supply Harbin medicine all the time. "
A medical representative who has left Northeast China for many years believes that the aging of personnel and product structure and the disconnection from market changes are the internal factors for the decline of these pharmaceutical companies in Northeast China. "And the Northeast is too comfortable to innovate."
As the largest pharmaceutical enterprise in Liaoning Province, the local government's financial subsidies and policy advantages for Northeast Pharmaceutical are not available to many private enterprises. These advantages, from another perspective, are a kind of "chronic suicide" that lacks market competitiveness.
The same is true of Harbin medicine. "It is not only a big API, but also a commercial distribution company and pharmacy with policy support.
Just because life is more comfortable, you can do well without too much transformation. In order to avoid some political mistakes in the northeast, the helmsman would rather make a smooth transition than make any mistakes.
The research and development of new drugs, which had a narrow escape, was also a "gamble" in politics. It was difficult for policy makers to make a decision and pay for it with their political career.
In the best case, research and development is just a term written in the company's external publicity manual.
Marketing is regarded as the standard, which is an immediate achievement of enterprises and a trick for officials to transform their political achievements. Li Jiang also lamented, "If you miss a point in time, you can't keep up."
Brain drain has always been the biggest constraint. According to a medical headhunter, Changchun Gaoxin has been poaching executives at twice the price of the industry. "But the following people can't all use high salaries to smash. After those executives pass by, they will find that no one is available and he will leave soon. Its talents are constantly replenished and constantly lost, which will lead to the progress of its product research and development, which will be very slow. "
And more graduates from Northeast Medical College will choose to go to Jiangsu and Zhejiang with better medical atmosphere.
0 4
Self-help of pharmaceutical enterprises in Northeast China
20 15, Li Jiang left Harbin pharmaceutical co., ltd. So far, he still has yellowed work notes and nearly 200 purchase contracts.
His departure stems from an internal reform of Harbin Pharmaceutical Co., Ltd., which led to the departure of a large number of original marketers.
After the decline in performance, the management of Harbin Pharmaceutical Co., Ltd. changed, and the successor opened the road of "second venture, transformation and upgrading" of Harbin Pharmaceutical Co., Ltd., but the focus was still not on research and development. Instead, it has carried out a mixed reform of the system like Northeast Pharmaceutical.
The purpose is the same-to adjust the organizational structure, simplify the hierarchy, and develop biomedicine and pharmaceutical engineering on the basis of the inherent three businesses of raw materials, chemicals and pharmaceutical business.
After the continuous decline in revenue, many factories operating at full capacity are empty, and the production line is in a semi-stagnant state, so there is no need for so many people. "Li Jiang said. It is precisely because the old pharmaceutical companies such as Harbin Pharmaceutical Co., Ltd. and Northeast Pharmaceutical Co., Ltd. have too heavy burdens and redundant personnel that they have experienced internal "retreat" and marketing reform.
In the past, each factory had its own independent sales team, and each factory did not interfere with each other. The original intention of marketing reform is to integrate internal resources and integrate the marketing of various factories into a team of the group.
Before, there were five or six branches in each provincial capital. After the reform, the provincial managers of the five or six branches were merged into one.
In an enterprise with complicated factional struggles, this undoubtedly creates more internal contradictions artificially. Li Jiang mentioned that the income gap between provincial managers and non-managers is half. As soon as the salary performance came out, a group of people left, and this reform became a disguised layoff.
Harbin Pharmaceutical Co., Ltd. used to rely too much on agents to grasp the market terminal information. In order to regain the sales advantage, the marketing reform attempts to implant Internet genes into the marketing model, and realize the information interconnection with franchisees and various channel terminals by scanning the identification codes of Harbin pharmaceutical products. This requires salespeople to collect information from terminals one by one by sweeping the street, and fill in the complicated information of agents and competing products.
In Li Jiang's view, this marketing reform is putting the cart before the horse. The original marketing system was relatively flat, and the provincial managers were all general managers or vice presidents of marketing, so they were highly sensitive to market changes. In addition, marketing policies and strategies are flexible, market-oriented, market development, coverage and quantity.
This reform not only did not fundamentally change the problems of single product and insufficient research and development of Harbin Pharmaceutical, but also lost the original flexible market model and intensified the internal struggle-99% of the employees in his department left. The employees of foreign companies parachuted in, whose familiar sales strategies did not match the existing products of Harbin Pharmaceutical Co., Ltd., and later left their jobs one after another.
One year after his departure, Hengrui Pharma became the first listed pharmaceutical company in China with a market value of over 100 billion.
Under the leadership of Cai, Unocon, which also started with antibiotics, completed the transformation from generic drugs to innovative drugs.
Harbin Pharmaceutical Co., Ltd., which is at the forefront, has repeatedly missed opportunities because of frequent changes in management's reform policies.
Xu Haijun, general manager of Harbin Pharmaceutical Co., Ltd. also publicly stated that "Harbin Pharmaceutical Co., Ltd. is slow to respond to the medical policy and market, and missed many opportunities. For example, after the introduction of the consistency evaluation policy, Harbin Pharmaceutical Co., Ltd. was the earliest, but only one product passed. Failure to pass the consistency evaluation means that you can't even get the tickets collected centrally. "
The plight of Harbin Pharmaceutical reflects the plight of pharmaceutical companies in Northeast China. After the market of APIs passed, the performance of Northeast Pharmaceutical was in a slump. Although the introduction of capital is for "mixed reform". But so far, it has not come out of the quagmire.
Sunflower Pharmaceutical Co., Ltd., Jilin Aodong Co., Ltd. and tonghua dongbao Co., Ltd., which mainly produce Chinese patent medicines, are also in great trouble under the impetus of medical insurance control fees and purchase restriction of traditional Chinese medicine injections.
According to an insider, Harbin Pharmaceutical's current strategy is to ensure that drugs enter centralized procurement and ensure the operation of the marketing system.
After leaving Harbin Pharmaceutical, Li Jiang joined a southern pharmaceutical company. This is a brand-new world. "Enterprises in the south will have more humanistic care. In the northeast, acquaintances and good relationships are the first. "
In Li Jiang's memory, Harbin Medicine around 20 1 1 is also two worlds: the glory of the old era and the loss of the new era.