Watson biological, King of Vaccines, 12 Future Story. Watson biological, from the "plant kingdom" of Yunnan, is the savior of the decline of GEM. Under the unbalanced situation that only the business model is emphasized but the company value is ignored, the independent core competitiveness is overemphasized, and the growth is excessively pursued while the financial trap is neglected, this company named watson biological is likely to be the new coordinate system of the Growth Enterprise Market of Shenzhen Stock Exchange.
What pushed this company to the capital platform was Ping An Securities. This huge benefit is shared by Li Yunchun, Liu Junhui, Chen Erjia, Liu Hongyan, Yuxi Real Estate, Hongta Venture Capital, Changan Venture Capital, etc. 19 natural person shareholders and three venture capital shareholders-the benefit of each shareholder exceeds 400 million yuan.
At present, there are two precious products in watson biological, one is Hib vaccine, and the other is freeze-dried meningococcal polysaccharide conjugate vaccines A and C. This is only at present, and the biggest imagination space is that it has 10 similar vaccines to follow up.
However, apart from the combined vaccine of Hib and freeze-dried meningococcal polysaccharides A and C, we can't draw a conclusion about it-about its expected index in the future. Because I've seen too many short-lived companies. At the same time, the IPO lab researchers of Financial Weekly also found many suspicious traces.
Mysterious 9 years
Watson biological was founded on 200 1 and listed on 20 10, with a history of 9 years. In general manufacturing, this should be a normal cycle, but in biotechnology, especially in the vaccine industry, this is like "Chang 'e II". Because the development cycle of each vaccine takes 5- 10 years.
It took six years for watson biological Hib vaccine to be developed and marketed in 2007. From 2003 to 2009, it also took six years to freeze-dry meningococcal polysaccharide combined with vaccines A and C. Both products are almost in the limit cycle.
After continuous follow-up, it is found that there will be a companion in every critical period in watson biological, Yunnan, which greatly accelerates the growth cycle of watson biological, Yunnan.
At the beginning, Yunnan watson biological Co., Ltd. was composed of three assets-Runsheng Pharmaceutical of Li Yunchun, Bowater Bio of Chen Erjia and Monson Pharmaceutical of Yunnan. Ping An Securities paid special attention to the evolution structure of the stock right from 200/kloc-0 to 2005, as well as the main business and financial indicators of watson biological in the past five years. I don't see any explanation, this paragraph is completely nonsense.
Its growth story began in 2005.
In March 2005, watson biological and Yuxi Real Estate established Yuxi Watson Company with a price of100000 yuan, with watson biological accounting for 90%. Yuxi Watson is now the production base of watson biological-Hib and freeze-dried meningococcal polysaccharide conjugate vaccine.
One year later, Yuxi Real Estate 10% shares withdrew according to the original contribution ratio. This is the first appearance of Yuxi Real Estate.
The second manifestation is indirect relationship. In April 2005, Shangcheng Yuxi was established with the contribution of100000 yuan from Shangcheng Kunming and Yuxi Real Estate, with 90% of the shares held by Shangcheng Kunming. In June 2006, Kunming Shangcheng acquired 0/0% shares of Yuxi Shangcheng/KLOC held by Yuxi Real Estate. Subsequently, in June 2007, 1 1, watson biological acquired Yuxi Shangcheng for100000 yuan according to the original capital. Cancelled in 2009.
What kind of company is Shangcheng Kunming? It is a subsidiary of Kunming Institute of Biology. The motivation of Kunming Institute of Biology to build a vaccine production base in Yuxi is to transfer the relevant production qualification of hepatitis A vaccine products under the name of Kunming Institute of Biology to Shangcheng, Yuxi.
Yuxi Real Estate indirectly escorted watson biological twice. When it appeared for the third time, it was the third largest shareholder, holding 9,527,300 shares of watson biological, accounting for 9.53% after issuance. The benefits obtained exceeded 654.38+0 billion.
Two or three films "Shang Cheng" and Kunming Institute of Biology are a very important driving force for the rapid development of watson biological. Watson biological bought uptown Yuxi and sold it to watson biological after its completion.
By the first half of 2007, Shangcheng, Yuxi had completed the construction of a series of equipment and facilities such as hepatitis A vaccine production workshop, quality inspection building and laboratory animal room. Then organize three batches of hepatitis A vaccine samples for trial production. Give up because of a loss of 6.56 million. Moreover, the reason can't stand scrutiny-the transfer of hepatitis A vaccine production qualification to Yuxi has complicated procedures and long approval period.
There must be a mysterious tacit understanding between watson biological and Yuxi Real Estate, Kunming Institute of Biology and Shangcheng, Kunming.
There is also a company called Watson Uptown. The original name of this company was Li Yunchun's Kunming Runsheng Pharmaceutical Company, and it was renamed Watson's Shangcheng in 2005. Why is it also named after Shangcheng? At this time, there is no equity or interest relationship with Kunming Shangcheng, which is wholly owned by Kunming Institute of Biology.
This is exactly what the researchers in IPO Lab of Financial Weekly are worried about. They suspect that there are many benefits to be conveyed and many hidden gray areas.
Watsons Uptown was originally a company with 50% shares held by Li Yunchun and Yu Xiaoping. In 2003, Wei obtained 50% of the shares; In 2006, it acquired 50% shares of Weiwei; At the end of 2006, Watsons Bio acquired 50% shares of Li Yunchun and Liu Junhui respectively; In 2009, Watsons Bio transferred 0/00% of the shares of/kloc-to Wei.
You know, in this series of share transfers, the share transfer money is not paid-first, in February 2006, watson biological signed an equity transfer agreement with Watson Uptown shareholders Li Yunchun and Liu Junhui, but watson biological Co., Ltd. did not actually pay the equity transfer money; (Inspirational) 2. After a lapse of two and a half years, Watson Bio-Co., Ltd. transferred its 65,438+000% equity to Wei, and directly paid Li Yunchun for the equity transfer. The fake transfer vacuum period of this internal stakeholder is two and a half years. Pay attention to Liu Junhui as a shareholder.
What has Watson become, and must be sold to Wei? Just100000 equity transfer price. You should also know that the annual net profit of Watson Uptown sold is also above 1.5 million.
Researchers at IPO Lab of Financial Weekly want to know whether Ping An Securities, the sponsor of watson biological, has made these secrets clear.
12 the story of the future vaccine
Watson biological this time let investors see and feel only two kinds of vaccines. Its financial indicators only reflect the current situation, and the future trend needs to be closely observed. From 2007 to 2065438+0-June 2000, the main business income was129.36 million,184.06 million, 239/kloc-0.20 million,1266/kloc-0.00 million, and the net profit was respectively. The corresponding total share capital is 6,543,800,000 yuan, which can only be evaluated as "fair".
The competitiveness of this company in Hib and freeze-dried meningococcal polysaccharide combined vaccine is beyond doubt, but how to further expand production capacity and scale. In terms of Hib, the output from June to June in 2065,438+00 was 2,708,200, accounting for 22.365,438+0% of the total market; The yield of freeze-dried meningococcal polysaccharide combined vaccine was 1292900, accounting for 83 14%.
The story is about 10 new vaccines other than these two vaccines-two application approval numbers for new drug production; 2. Clinical research has been completed; 1 case has been approved for clinical research, and clinical research is under way; 5 declared clinical studies; Another 10 is in the preclinical research stage.
You need to know the general process and timetable, and it takes 2-5 years before clinical research; After obtaining clinical approval, clinical research needs to be conducted by qualified clinical research institutions, which are generally divided into phase I, phase II and phase III, and it takes 1-2 years; After completing clinical research and clinical summary, it takes nearly 1 year to apply to the State Food and Drug Administration for a new drug certificate or a new drug production approval.
The researcher of IPO Lab of Financial Weekly presented its new vaccine plan here, hoping to follow it as the information you must pay attention to when researching and investing in this company.
They are: freeze-dried A, C, W 135 and Y meningococcal polysaccharide vaccines (listed this year); Freeze-dried meningococcal polysaccharide vaccine (listed this year); Influenza virus split vaccine (listed next year, with clinical summary report); Adsorbed acellular DTP combined vaccine (listed next year, with clinical summary report); Adsorbed tetanus vaccine; Recombinant (Hansenula) hepatitis B vaccine; 9-valent Streptococcus pneumoniae conjugate vaccine; Adsorbed acellular DTP-Haemophilus influenzae type B combined vaccine: CpG adjuvant enhanced hepatitis B vaccine; CpG adjuvant enhances rabies vaccine; Pika adjuvant rhinoinfluenza vaccine; 23 valent Streptococcus pneumoniae polysaccharide vaccine; Live attenuated varicella vaccine; Typhoid Vi, paratyphoid conjugate vaccine, recombinant HPV vaccine, freeze-dried A, C, W 135, Y meningococcal polysaccharide conjugate vaccine, Hib HBV adsorption acellular DTP combined vaccine.
Companies from Yunnan never lack stories and are full of magic. Just like Xishuangbanna, just like Yulong Snow Mountain in Lijiang, just like the roaring Nujiang River, just like the sleeping beauty on the bank of Dianchi Lake, just like the stone forest in Lunan.