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淹死的鱼
03-20
不急不急,看看戏
拼多多2023年Q4营收888.8亿元,调整后净利润同比增110%
淹死的鱼
2023-09-22
$拼多多(PDD)$
今天这么硬么
淹死的鱼
2022-12-28
证明了有资本控制
新冠特效药背后的生意
淹死的鱼
2021-08-10
$PolyPid Ltd.(PYPD)$
再戳一戳
淹死的鱼
2021-08-05
$BioNTech SE(BNTX)$
落袋一半仓位
淹死的鱼
2021-04-06
$Bellicum Pharmaceuticals, Inc.(BLCM)$
加油加油^_^
淹死的鱼
2021-04-06
扶我起来,我还能行
淹死的鱼
2021-03-31
$C3.ai, Inc.(AI)$
刚买就废了
淹死的鱼
2020-10-13
$PolyPid Ltd.(PYPD)$
有人么?
淹死的鱼
2020-09-14
不会又得痿?
淹死的鱼
2020-09-04
$纳斯达克(.IXIC)$
能收十字星么?
淹死的鱼
2020-08-01
$众巢医学(ZCMD)$
没人玩了,半死不活
淹死的鱼
2017-09-05
$eBay(EBAY)$怎么回事?2015年7月前的k线和其余地方的差别这么大?
淹死的鱼
2017-08-07
$阿里巴巴(BABA)$网联的消息是利好么?
淹死的鱼
2017-03-02
$Snap Inc(SNAP)$23.5-24.5
淹死的鱼
2016-07-07
$3D系统(DDD)$加油
去老虎APP查看更多动态
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style=\"\"><li><p>2023年,拼多多总营收为2476.392亿元,同比增长90%。</p></li><li><p>2023年,归属于拼多多普通股股东的净利润为600.265亿元,同比增长90%。</p></li><li><p>不按美国通用会计准则,2023年归属于拼多多普通股股东的净利润为678.993亿元,同比增长72%。</p></li></ul><p>拼多多集团全年研发投入为110亿元,其中,Q4研发费用同比增长19%,达到29亿元。拼多多董事长、联席首席执行官陈磊表示,“科技企业,研发为本。今年,我们将保持投入力度,为高质量发展探索、培育新质生产力,推动前沿技术在农业及制造业中的应用转化,支撑平台更高水平的高质量发展。”</p><p>截至发稿,拼多多盘前大涨15%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2ce9442586747ba4546a9c56f9a7152\" title=\"\" tg-width=\"450\" tg-height=\"126\"/></p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>拼多多2023年Q4营收888.8亿元,调整后净利润同比增110%</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n拼多多2023年Q4营收888.8亿元,调整后净利润同比增110%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2024-03-20 18:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>3月20日周三,拼多多发布2023年Q4及全年业绩。</p><p>第四季度</p><ul style=\"\"><li><p>第四季度营收888.8亿元人民币,同比增长123%。市场预期798.74亿元,上年同期398.2亿元。</p></li><li><p>来自在线营销服务及其他服务的营收为486.756亿元(约合68.558亿美元),与2022年同期相比增长57%。</p></li><li><p>来自交易服务的营收为402.054亿元(约合56.628亿美元),与2022年同期相比增长357%。</p></li><li><p>第四季度归属于拼多多普通股股东的净利润为232.803亿元,同比增长146%。</p></li><li><p>不按美国通用会计准则,第四季度归属于拼多多普通股股东的净利润为254.765亿元,同比增长110%。</p></li><li><p>第四季度调整后每ADS收益17.32元,市场预期11.28元。</p></li></ul><p>2023年全年</p><ul style=\"\"><li><p>2023年,拼多多总营收为2476.392亿元,同比增长90%。</p></li><li><p>2023年,归属于拼多多普通股股东的净利润为600.265亿元,同比增长90%。</p></li><li><p>不按美国通用会计准则,2023年归属于拼多多普通股股东的净利润为678.993亿元,同比增长72%。</p></li></ul><p>拼多多集团全年研发投入为110亿元,其中,Q4研发费用同比增长19%,达到29亿元。拼多多董事长、联席首席执行官陈磊表示,“科技企业,研发为本。今年,我们将保持投入力度,为高质量发展探索、培育新质生产力,推动前沿技术在农业及制造业中的应用转化,支撑平台更高水平的高质量发展。”</p><p>截至发稿,拼多多盘前大涨15%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2ce9442586747ba4546a9c56f9a7152\" title=\"\" tg-width=\"450\" tg-height=\"126\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e42c16a083ab273c19aaae21cdb697a0","relate_stocks":{"PDD":"拼多多"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186413243","content_text":"3月20日周三,拼多多发布2023年Q4及全年业绩。第四季度第四季度营收888.8亿元人民币,同比增长123%。市场预期798.74亿元,上年同期398.2亿元。来自在线营销服务及其他服务的营收为486.756亿元(约合68.558亿美元),与2022年同期相比增长57%。来自交易服务的营收为402.054亿元(约合56.628亿美元),与2022年同期相比增长357%。第四季度归属于拼多多普通股股东的净利润为232.803亿元,同比增长146%。不按美国通用会计准则,第四季度归属于拼多多普通股股东的净利润为254.765亿元,同比增长110%。第四季度调整后每ADS收益17.32元,市场预期11.28元。2023年全年2023年,拼多多总营收为2476.392亿元,同比增长90%。2023年,归属于拼多多普通股股东的净利润为600.265亿元,同比增长90%。不按美国通用会计准则,2023年归属于拼多多普通股股东的净利润为678.993亿元,同比增长72%。拼多多集团全年研发投入为110亿元,其中,Q4研发费用同比增长19%,达到29亿元。拼多多董事长、联席首席执行官陈磊表示,“科技企业,研发为本。今年,我们将保持投入力度,为高质量发展探索、培育新质生产力,推动前沿技术在农业及制造业中的应用转化,支撑平台更高水平的高质量发展。”截至发稿,拼多多盘前大涨15%。","news_type":1},"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":222631762186336,"gmtCreate":1695390016760,"gmtModify":1695390673149,"author":{"id":"109525063074318","authorId":"109525063074318","name":"淹死的鱼","avatar":"https://static.tigerbbs.com/a42812c0a639ebfd0bffe0639042ba55","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"109525063074318","idStr":"109525063074318"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$ </a>今天这么硬么","listText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$ </a>今天这么硬么","text":"$拼多多(PDD)$ 今天这么硬么","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/222631762186336","isVote":1,"tweetType":1,"viewCount":814,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":621612595,"gmtCreate":1672235337918,"gmtModify":1672235339710,"author":{"id":"109525063074318","authorId":"109525063074318","name":"淹死的鱼","avatar":"https://static.tigerbbs.com/a42812c0a639ebfd0bffe0639042ba55","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"109525063074318","idStr":"109525063074318"},"themes":[],"htmlText":"证明了有资本控制","listText":"证明了有资本控制","text":"证明了有资本控制","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/621612595","repostId":"1154644492","repostType":4,"repost":{"id":"1154644492","pubTimestamp":1672212244,"share":"https://www.laohu8.com/m/news/1154644492?lang=&edition=full","pubTime":"2022-12-28 15:24","market":"sh","language":"zh","title":"新冠特效药背后的生意","url":"https://stock-news.laohu8.com/highlight/detail?id=1154644492","media":"BT财经","summary":"特效药究竟能否终结这场持续三年的疫情?","content":"<html><head></head><body><p>文丨梦萧</p><p>近期新冠感染人数激增,新冠特效药成了大众关注的焦点。</p><p>12月26日消息,北京市近期计划在各社区卫生服务中心配置辉瑞新冠特效药Paxlovid(中文名:帕克斯洛维德),并组织全市社区医生抗病毒药物应用的紧急培训。</p><p>记者向北京市通州区一位社区医生求证核实,该医生确实参加了线上培训,主要是专家讲解了抗病毒药物类型和临床使用方法,并针对孕妇、儿童等特殊人群进行单独讲解如何用药,但此次培训未提到Paxlovid何时会配送至社区卫生服务中心。</p><p><img src=\"https://static.tigerbbs.com/272af1f9c8a90f4d141ec512f2d4ea7f\" tg-width=\"550\" tg-height=\"535\" referrerpolicy=\"no-referrer\"/></p><p>2022年2月11日,针对国内疫情反复的情况,国家药监局按照药品特别审批程序进行应急审评审批,附条件批准Paxlovid进口注册。此举直到12月也未引起公众太大关注,但在全面放开后,Paxlovid像莲花清瘟的风潮一样备受追崇,但是同时市场也有声音称需要冷静看待新冠特效药,因为它只是应急药,并不是国家终极目标的抗疫药品。</p><p>辉瑞也成功撬动了资本市场,从最新股价来看,51.83美元/股的股价处于历史高位,虽然相比最高点61.71美元/股有所下滑,却依然拥有2909亿美元的总市值,成为全球医药行业的翘楚。</p><p><img src=\"https://static.tigerbbs.com/214877404db9138499bfe9e776695437\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>财报显示,2022年一季度以来,Paxlovid在美国区域的处方增长了近5倍,在美国市场持续占据超过90%的市场份额,2022年上半年,仅Paxlovid的销售额已达96亿美元。截至目前,已开出超过390万张处方,销售额还在不断增长。2020年辉瑞总营收为416.5亿美元,而2021年的总营收为812.9亿美元,同比激增95.2%。</p><p>可见,新冠特效药是门好生意,但新冠特效药究竟能否终结这场持续三年的疫情?</p><p><b>辉瑞特效药医不自治?</b></p><p>新冠特效药赚钱能力强是不争的事实,药效到底如何,却褒贬不一。</p><p>北大医院一位不愿具名的主任医师介绍称,Paxlovid之所以是附条件进口,是因为它是紧急批复的药品,大概率是没有经过三期临床试验的,“Paxlovid药理上属于病毒阻断药,之前常用在艾滋病晚期阻断,其最大的副作用是容易造成肝损伤,治疗新冠的原理也是从艾滋病阻断药改良过来的,在国内通过三期临床试验的可能性不大,药理学专家一般都是辩证的看这个药品(既看中它的药效,又警惕带来的副作用),国家的用药指导意见也还没出台,它不是普及药品,暂时也不是国家允许普及的药品。”</p><p>该医师介绍称,目前该药一般用于新冠感染引发的危重症患者。</p><p>网络上,网友对Paxlovid的认可度并不高,北京某疫情较为严重的小区500人的业主大群内,有对Paxlovid的激烈讨论,大部分业主都认为其并没有传说中的那么神奇,不然也不会有自己的高管去世。之所以成为市场的热炒药品,是因为有资本的推波助澜。</p><p><img src=\"https://static.tigerbbs.com/80833cda7c8d5b3c39a88784311a11ce\" tg-width=\"550\" tg-height=\"583\" referrerpolicy=\"no-referrer\"/></p><p>尽管Paxlovid的市场认可度不高,但在1药网一度被炒到2980元一盒的天价,比之前医保采购价2300元要高出一截。据悉,每盒Paxlovid包含20片奈玛特韦和10片利托那韦。以此计算,每片Paxlovid的价格约为100元,是名副其实的“天价药”。但不知何种原因,目前1药网相关预售页面已经删除了。</p><p><img src=\"https://static.tigerbbs.com/9f311b2d58474605c83a717e22a64cf4\" tg-width=\"550\" tg-height=\"914\" referrerpolicy=\"no-referrer\"/></p><p>《柳叶刀》的权威解读</p><p>要想了解Paxlovid的真实疗效,还需要从国际权威医学学术杂志《柳叶刀》内寻找答案。</p><p>据《柳叶刀》撰文显示,针对新冠特效药其在香港进行了为期4个月的真实调研,调研时间为2022年2月26日至6月26日,调研样本为11847例,这些样本服用过Molnupiravir或Paxlovid,且大多属于年龄偏大的高危人群,他们有未完成疫苗接种的共同点。通过这些患者的真实记录来分析两种药物的实际表现。</p><p>2022年10月8日,《柳叶刀》发布本次调研的报告,报告显示,Molnupiravir治疗组的全因死亡率为17.9/100000人日,相比对照组降低了24%。而Paxlovid表现相对优异一些,数据为治疗组的全因死亡率4.2/100000人日,相比对照组降低66%。</p><p>肯定了新冠特效药Paxlovid疗效的同时,《柳叶刀》还指出,Paxlovid虽然在众多新冠药物中有明显优势,但也不是“包治百病,药到病除”的特效药,它的使用范围有明显的界定,在临床使用中有诸多限制和不足,同时也有一定的副作用。</p><p>调研报告显示,首先,Paxlovid作为处方药,在未经医生处方的情况下自行服用的风险很大。其次是未被授权用作新冠病毒暴露前或暴露后的预防,也就是说不能作为预防新冠的药物。未被授权用于严重或者危症新冠患者的初始治疗以及未被授权超过5天连续使用。报告提示临床试验中Paxlovid常见不良反应众多,包括味觉改变、恶心、高血压、肌肉疼痛、腹痛、腹泻等,不建议患有严重肝病和肾病的患者服用,这和被神化的“特效”有本质差别。</p><p>《柳叶刀》最明显的结论是Paxlovid等新冠特效药,对65岁以下健康人群效果并不显著。以国家卫健委老龄司发布的《2021年度国家老龄事业发展公报》数据来看,2021年全国65岁以上老年人口达20056万人,占总人口的14.2%,在全国总人口中依然处于偏低比例,也无法成为全社会层面大力普及的药物。</p><p>唐山某公立医院主任医师尹凡认为Paxlovid虽然对部分新冠病人有一定疗效,但不应该被神化,“它的药理性决定其本身的副作用很明显,不适应所有人群。目前之所以被热炒,是因为感染人群突然增多,大家的心理焦虑被厂家利用。”据介绍,尹凡自己的家人也有重症患者,但并没有选择Paxlovid。“没敢用那个药,主要还是担心副作用太大。”</p><p>而另外一种新冠特效药阿兹夫定,在2022年8月获批成为首个上市的国产新冠特效药,定价为每瓶270元,每瓶35片,每片1mg。被列入《第九版新冠诊疗方案》,用于治疗普通型新冠肺炎成年患者。据BT财经了解到,该药在医药电商上市不久就下架了,具体原因不明,有业内人士推测或和该药是处方药有关。</p><p>Paxlovid和阿兹夫定是目前国内仅有的两款新冠口服药,也被冠以“新冠特效药”的称谓。两者却都同时上演了“闪上”又“闪退”的闹剧,让众多期待新冠特效药的消费者茫然不知所措,这直接暴露出,新冠药物在目前还没有确立如何使用、何种人群适用、是否可以线上开处方的清晰界限,这些问题不解决,就很难全民普及和推广。</p><p><b>阿兹夫定难成救星</b></p><p>作为国内唯一一种新冠特效药,真实生物生产的阿兹夫定定价是比较亲民的,价格不到Paxlovid的1/10。据《北京商报》报道,阿兹夫定片的价格是每瓶不到300元,以每瓶35片计算,每片约8.5元。</p><p>真实生物于8月2日发文称,阿兹夫定片已经正式进入投产阶段,目前公司平顶山生产基地年产能是10亿片,未来有望实现30亿片的年产能。即便以现在的产能来计算,10亿片的年产能,将为真实生物带来近90亿元的销售额。</p><p>根据真实生物的财务数据可知,2020年、2021年及2022年前5月,真实生物的收入分别是6.8万元、137.6万元、845.1万元,期间亏损分别是1.51亿元、1.97亿元、2.18亿元,前者数百万元的营收和预期的90亿元营收相比,可谓一飞冲天。</p><p>但作为首款被批准的国产新冠口服药,阿兹夫定目前尚未在学术期刊上公开关于新冠治疗的研究数据,BT财经只能从其生产厂家真实生物的IPO申请文件和药物试验登记网站获得其三期临床试验部分信息,而这些数据只是真实生物用来上市的数据,数据主要来自商业属性浓厚IPO文件,缺乏来自学术期刊的研究,导致试验数据不足,部分数据或存疑,最终数据的真实性有待考证。</p><p><img src=\"https://static.tigerbbs.com/f86cb37472ebbcf21a9a8e39e95f2937\" tg-width=\"550\" tg-height=\"552\" referrerpolicy=\"no-referrer\"/></p><p>比如,真实生物的中症新冠患者的研究数据严重偏少,在俄罗斯仅有314名样本,从这些数据的样本中可以看出,阿兹夫定的疗效比较显著,在用药7天后,用药组40.43%的患者症状有改善,而安慰剂组只有10.87%。数据看似喜人,但因缺乏足够的样本支撑,并不被更多的业内人士所接受。</p><p>同样,阿兹夫定在巴西招募的样本,也只有140例,以如此偏低的数据样本得出结论,显然有违医学常理。作为对比,Paxlovid的临床试验招募了2246名受试者,是阿兹夫定受试者的5倍,Molnupiravir的临床试验招募了1400余人,是阿兹夫定受试者的3倍。国家食品药品监督管理总局在2013年颁布的《药品注册管理办法》中规定,三期临床的最低样本为300例,阿兹夫定虽然达到了这一标准,却因为样本基数太小而被医学界质疑。</p><p>阿兹夫定之所以被质疑,是因为根据阿兹夫定的上市审评报告,其遗传毒性和生殖毒性无法忽视。除此之外阿兹夫定还有诸多不良反应,包括头痛、困倦的神经系统疾病、转氨酶升高,血尿酸水平升高的肝肾功能异常以及恶心、呕吐、腹泻等胃肠道反应,同样属于副作用较多的药品范围。</p><p>BT财经了解到,在互联网医院可以轻松购买阿兹夫定,只需提供核酸或抗原阳性结果照片,就可一键下单。而作为处方药,这样的销售显然是有违国内处方药的相关规定。负责阿兹夫定商业化的复星医药称,目前正与多家互联网医疗平台接洽合作,多渠道实现可及性,进一步满足新冠病毒感染患者居家治疗需求。</p><p>一个利好消息是,2022年12月12日,国务院应对新型冠状病毒肺炎疫情联防联控机制医疗救治组发布《关于做好新冠肺炎互联网医疗服务的通知》,明确医疗机构可在线开具治疗新冠肺炎相关症状的处方,鼓励委托符合条件的第三方将药品配送到患者家中。这是对互联网医院的一次开闸信号,或将改变处方药未来的销售模式。</p><p>虽然真实生物拿下了国产新冠口服药首药的桂冠,但其面临的竞争并不小,众多药企同样看中了新冠药物的巨大市场,开始紧随其后,旺山旺水/君实生物VV116、开拓药业普克鲁胺的进展较快,有望成为下一款获批的国产抗新冠口服药。</p><p>普克鲁胺和VV116目前均处在III期的不同阶段。2022年4月,开拓药业公布了普克鲁胺治疗轻中症的III期全球多中心临床试验最终关键结果。数据显示,普克鲁胺有效降低新冠患者的住院/死亡率。2022年5月,君实生物披露公告称,VV116在一项对比Paxlovid用于轻中度新型冠状病毒肺炎早期治疗的III期注册临床研究。这两家的三期临床数据样本远高于真实生物,这对真实生物是巨大挑战。</p><p>“当时真实生物能拿下第一个获批的新冠口服药,出乎业内很多人的意料,因为无论是从财力还是实力上看,君实生物、前沿生物还是先声药业以及开拓药业都比他有实力,而新冠随着病毒毒株的变异,未来将长期存在,新冠药物的市场极为庞大。”一位不愿具名的医药行业人士对真实生物能拿下第一个审批,表示很意外。</p><p>值得一提的是,君实生物和开拓药业都是上市公司,其雄厚的财力支持,恐远非真实生物可比,真实生物目前尚在谋求上市。截至12月26日,君实生物的总市值347亿港元,开拓药业的总市值为49亿港元,其中君实生物的股价上涨4.14%,股价为35.25港元/股。</p><p><img src=\"https://static.tigerbbs.com/f28b5903af578c9fa16299b5ed81e89d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>目前来看,阿兹夫定的口碑并未因为低价而达到预期,这或和真实生物尚未上市,自身实力受限有一定关系,但其他药企纷纷进入,对国产新冠口服药将是极大的推进。</p><p><b>新冠药物前景广阔</b></p><p>2022年1月19日,世卫组织突发卫生事件规划执行主任Mike Ryan,在达沃斯世界经济论坛的在线会议上指出,奥密克戎迅速传播之下,很可能还会出现新的变异株,经过变异后,新冠病毒彻底消失的可能性基本为零,人类终究要和它共存。这意味着未来新冠药物将是全球人类都几乎必备的药品,这无疑催生了巨大的市场需求,相关行业前景看好。</p><p>疫情以来新冠相关药物的需求增长旺盛,市场规模增长迅猛。据方正证券评估,中国未来三年将完成覆盖10%总人口的药物储备,大概有1.5亿人拥有新冠口服药的储备。2023-2025年采购量将达到3000万份、5000万份、6000万份,但因行业竞争和研发力度的加大,新冠口服药单价或呈现逐年下降趋势,对应价格为600元/疗程、300元/疗程、150元/疗程,3年合计依然高达420亿元。</p><p>对于国内第一个获批的阿兹夫定特效药,首创证券给出的市场空间为30亿元左右,上游原料药市场按5%-10%计算约为1.5亿-3亿元,下游分销配送市场按5%-8%计算约为1.5亿-2.4亿元。如果按方正证券的预测,420亿元以上的市场规模中上游原料药市场约为21亿-42亿元,下游分销配送市场约为21亿-34亿元。其他相关产业链也均能从中获得一定收益,对整个相关产业链都有一定的推动作用。</p><p>而针对一年多以来,仅有真实生物的阿兹夫定获批的事实,有业内人士认为这和国内药企的基础研究能力相对较弱有关。“真实生物的阿兹夫定成为国内研发出第一款新冠口服药,也只是万里长征第一步,考虑到国内巨大市场需求,未来新冠口服药领域的跨企业合作、对外授权和CXO可能性很大。”</p><p>不可否认的是,国内药企的相关动作并不快,但对药企来说,新冠药物将是难得的弯道超车机会。毕竟在新冠灭活疫苗的相关领域,已经成功催生出两家年盈利数百亿的药企,而从市场体量上看,新冠口服药的利润相比疫苗只高不低。</p><p>即便短期内的新冠药物因为研发投入太大而无法盈利,但通过热点营销带来口碑的提升以及在资本市场关注度的提升,都对医药行业发展有不可估量的促进作用。此外还带动了国内药企的研发投入大大增加,推动了临床试验以及相关人才的积累,改善了国内药企的应急能力。</p><p>目前辉瑞和真实生物已经走在前面,众多药企也在争先恐后进入赛道,未来通过良性竞争,真正对新冠有特效的国产低价药品或在不久后问世,这对饱受疫情折磨的国人来说,将是莫大的福音。</p></body></html>","source":"lsy1588993976395","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n新冠特效药背后的生意\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-28 15:24 北京时间 <a href=https://finance.sina.com.cn/tech/csj/2022-12-28/doc-imxyenxk9430994.shtml><strong>BT财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>文丨梦萧近期新冠感染人数激增,新冠特效药成了大众关注的焦点。12月26日消息,北京市近期计划在各社区卫生服务中心配置辉瑞新冠特效药Paxlovid(中文名:帕克斯洛维德),并组织全市社区医生抗病毒药物应用的紧急培训。记者向北京市通州区一位社区医生求证核实,该医生确实参加了线上培训,主要是专家讲解了抗病毒药物类型和临床使用方法,并针对孕妇、儿童等特殊人群进行单独讲解如何用药,但此次培训未提到...</p>\n\n<a href=\"https://finance.sina.com.cn/tech/csj/2022-12-28/doc-imxyenxk9430994.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/86caee6b0aec6bd2902dea91a4ecb3e5","relate_stocks":{"01877":"君实生物","09939":"开拓药业-B","PFE":"辉瑞"},"source_url":"https://finance.sina.com.cn/tech/csj/2022-12-28/doc-imxyenxk9430994.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154644492","content_text":"文丨梦萧近期新冠感染人数激增,新冠特效药成了大众关注的焦点。12月26日消息,北京市近期计划在各社区卫生服务中心配置辉瑞新冠特效药Paxlovid(中文名:帕克斯洛维德),并组织全市社区医生抗病毒药物应用的紧急培训。记者向北京市通州区一位社区医生求证核实,该医生确实参加了线上培训,主要是专家讲解了抗病毒药物类型和临床使用方法,并针对孕妇、儿童等特殊人群进行单独讲解如何用药,但此次培训未提到Paxlovid何时会配送至社区卫生服务中心。2022年2月11日,针对国内疫情反复的情况,国家药监局按照药品特别审批程序进行应急审评审批,附条件批准Paxlovid进口注册。此举直到12月也未引起公众太大关注,但在全面放开后,Paxlovid像莲花清瘟的风潮一样备受追崇,但是同时市场也有声音称需要冷静看待新冠特效药,因为它只是应急药,并不是国家终极目标的抗疫药品。辉瑞也成功撬动了资本市场,从最新股价来看,51.83美元/股的股价处于历史高位,虽然相比最高点61.71美元/股有所下滑,却依然拥有2909亿美元的总市值,成为全球医药行业的翘楚。财报显示,2022年一季度以来,Paxlovid在美国区域的处方增长了近5倍,在美国市场持续占据超过90%的市场份额,2022年上半年,仅Paxlovid的销售额已达96亿美元。截至目前,已开出超过390万张处方,销售额还在不断增长。2020年辉瑞总营收为416.5亿美元,而2021年的总营收为812.9亿美元,同比激增95.2%。可见,新冠特效药是门好生意,但新冠特效药究竟能否终结这场持续三年的疫情?辉瑞特效药医不自治?新冠特效药赚钱能力强是不争的事实,药效到底如何,却褒贬不一。北大医院一位不愿具名的主任医师介绍称,Paxlovid之所以是附条件进口,是因为它是紧急批复的药品,大概率是没有经过三期临床试验的,“Paxlovid药理上属于病毒阻断药,之前常用在艾滋病晚期阻断,其最大的副作用是容易造成肝损伤,治疗新冠的原理也是从艾滋病阻断药改良过来的,在国内通过三期临床试验的可能性不大,药理学专家一般都是辩证的看这个药品(既看中它的药效,又警惕带来的副作用),国家的用药指导意见也还没出台,它不是普及药品,暂时也不是国家允许普及的药品。”该医师介绍称,目前该药一般用于新冠感染引发的危重症患者。网络上,网友对Paxlovid的认可度并不高,北京某疫情较为严重的小区500人的业主大群内,有对Paxlovid的激烈讨论,大部分业主都认为其并没有传说中的那么神奇,不然也不会有自己的高管去世。之所以成为市场的热炒药品,是因为有资本的推波助澜。尽管Paxlovid的市场认可度不高,但在1药网一度被炒到2980元一盒的天价,比之前医保采购价2300元要高出一截。据悉,每盒Paxlovid包含20片奈玛特韦和10片利托那韦。以此计算,每片Paxlovid的价格约为100元,是名副其实的“天价药”。但不知何种原因,目前1药网相关预售页面已经删除了。《柳叶刀》的权威解读要想了解Paxlovid的真实疗效,还需要从国际权威医学学术杂志《柳叶刀》内寻找答案。据《柳叶刀》撰文显示,针对新冠特效药其在香港进行了为期4个月的真实调研,调研时间为2022年2月26日至6月26日,调研样本为11847例,这些样本服用过Molnupiravir或Paxlovid,且大多属于年龄偏大的高危人群,他们有未完成疫苗接种的共同点。通过这些患者的真实记录来分析两种药物的实际表现。2022年10月8日,《柳叶刀》发布本次调研的报告,报告显示,Molnupiravir治疗组的全因死亡率为17.9/100000人日,相比对照组降低了24%。而Paxlovid表现相对优异一些,数据为治疗组的全因死亡率4.2/100000人日,相比对照组降低66%。肯定了新冠特效药Paxlovid疗效的同时,《柳叶刀》还指出,Paxlovid虽然在众多新冠药物中有明显优势,但也不是“包治百病,药到病除”的特效药,它的使用范围有明显的界定,在临床使用中有诸多限制和不足,同时也有一定的副作用。调研报告显示,首先,Paxlovid作为处方药,在未经医生处方的情况下自行服用的风险很大。其次是未被授权用作新冠病毒暴露前或暴露后的预防,也就是说不能作为预防新冠的药物。未被授权用于严重或者危症新冠患者的初始治疗以及未被授权超过5天连续使用。报告提示临床试验中Paxlovid常见不良反应众多,包括味觉改变、恶心、高血压、肌肉疼痛、腹痛、腹泻等,不建议患有严重肝病和肾病的患者服用,这和被神化的“特效”有本质差别。《柳叶刀》最明显的结论是Paxlovid等新冠特效药,对65岁以下健康人群效果并不显著。以国家卫健委老龄司发布的《2021年度国家老龄事业发展公报》数据来看,2021年全国65岁以上老年人口达20056万人,占总人口的14.2%,在全国总人口中依然处于偏低比例,也无法成为全社会层面大力普及的药物。唐山某公立医院主任医师尹凡认为Paxlovid虽然对部分新冠病人有一定疗效,但不应该被神化,“它的药理性决定其本身的副作用很明显,不适应所有人群。目前之所以被热炒,是因为感染人群突然增多,大家的心理焦虑被厂家利用。”据介绍,尹凡自己的家人也有重症患者,但并没有选择Paxlovid。“没敢用那个药,主要还是担心副作用太大。”而另外一种新冠特效药阿兹夫定,在2022年8月获批成为首个上市的国产新冠特效药,定价为每瓶270元,每瓶35片,每片1mg。被列入《第九版新冠诊疗方案》,用于治疗普通型新冠肺炎成年患者。据BT财经了解到,该药在医药电商上市不久就下架了,具体原因不明,有业内人士推测或和该药是处方药有关。Paxlovid和阿兹夫定是目前国内仅有的两款新冠口服药,也被冠以“新冠特效药”的称谓。两者却都同时上演了“闪上”又“闪退”的闹剧,让众多期待新冠特效药的消费者茫然不知所措,这直接暴露出,新冠药物在目前还没有确立如何使用、何种人群适用、是否可以线上开处方的清晰界限,这些问题不解决,就很难全民普及和推广。阿兹夫定难成救星作为国内唯一一种新冠特效药,真实生物生产的阿兹夫定定价是比较亲民的,价格不到Paxlovid的1/10。据《北京商报》报道,阿兹夫定片的价格是每瓶不到300元,以每瓶35片计算,每片约8.5元。真实生物于8月2日发文称,阿兹夫定片已经正式进入投产阶段,目前公司平顶山生产基地年产能是10亿片,未来有望实现30亿片的年产能。即便以现在的产能来计算,10亿片的年产能,将为真实生物带来近90亿元的销售额。根据真实生物的财务数据可知,2020年、2021年及2022年前5月,真实生物的收入分别是6.8万元、137.6万元、845.1万元,期间亏损分别是1.51亿元、1.97亿元、2.18亿元,前者数百万元的营收和预期的90亿元营收相比,可谓一飞冲天。但作为首款被批准的国产新冠口服药,阿兹夫定目前尚未在学术期刊上公开关于新冠治疗的研究数据,BT财经只能从其生产厂家真实生物的IPO申请文件和药物试验登记网站获得其三期临床试验部分信息,而这些数据只是真实生物用来上市的数据,数据主要来自商业属性浓厚IPO文件,缺乏来自学术期刊的研究,导致试验数据不足,部分数据或存疑,最终数据的真实性有待考证。比如,真实生物的中症新冠患者的研究数据严重偏少,在俄罗斯仅有314名样本,从这些数据的样本中可以看出,阿兹夫定的疗效比较显著,在用药7天后,用药组40.43%的患者症状有改善,而安慰剂组只有10.87%。数据看似喜人,但因缺乏足够的样本支撑,并不被更多的业内人士所接受。同样,阿兹夫定在巴西招募的样本,也只有140例,以如此偏低的数据样本得出结论,显然有违医学常理。作为对比,Paxlovid的临床试验招募了2246名受试者,是阿兹夫定受试者的5倍,Molnupiravir的临床试验招募了1400余人,是阿兹夫定受试者的3倍。国家食品药品监督管理总局在2013年颁布的《药品注册管理办法》中规定,三期临床的最低样本为300例,阿兹夫定虽然达到了这一标准,却因为样本基数太小而被医学界质疑。阿兹夫定之所以被质疑,是因为根据阿兹夫定的上市审评报告,其遗传毒性和生殖毒性无法忽视。除此之外阿兹夫定还有诸多不良反应,包括头痛、困倦的神经系统疾病、转氨酶升高,血尿酸水平升高的肝肾功能异常以及恶心、呕吐、腹泻等胃肠道反应,同样属于副作用较多的药品范围。BT财经了解到,在互联网医院可以轻松购买阿兹夫定,只需提供核酸或抗原阳性结果照片,就可一键下单。而作为处方药,这样的销售显然是有违国内处方药的相关规定。负责阿兹夫定商业化的复星医药称,目前正与多家互联网医疗平台接洽合作,多渠道实现可及性,进一步满足新冠病毒感染患者居家治疗需求。一个利好消息是,2022年12月12日,国务院应对新型冠状病毒肺炎疫情联防联控机制医疗救治组发布《关于做好新冠肺炎互联网医疗服务的通知》,明确医疗机构可在线开具治疗新冠肺炎相关症状的处方,鼓励委托符合条件的第三方将药品配送到患者家中。这是对互联网医院的一次开闸信号,或将改变处方药未来的销售模式。虽然真实生物拿下了国产新冠口服药首药的桂冠,但其面临的竞争并不小,众多药企同样看中了新冠药物的巨大市场,开始紧随其后,旺山旺水/君实生物VV116、开拓药业普克鲁胺的进展较快,有望成为下一款获批的国产抗新冠口服药。普克鲁胺和VV116目前均处在III期的不同阶段。2022年4月,开拓药业公布了普克鲁胺治疗轻中症的III期全球多中心临床试验最终关键结果。数据显示,普克鲁胺有效降低新冠患者的住院/死亡率。2022年5月,君实生物披露公告称,VV116在一项对比Paxlovid用于轻中度新型冠状病毒肺炎早期治疗的III期注册临床研究。这两家的三期临床数据样本远高于真实生物,这对真实生物是巨大挑战。“当时真实生物能拿下第一个获批的新冠口服药,出乎业内很多人的意料,因为无论是从财力还是实力上看,君实生物、前沿生物还是先声药业以及开拓药业都比他有实力,而新冠随着病毒毒株的变异,未来将长期存在,新冠药物的市场极为庞大。”一位不愿具名的医药行业人士对真实生物能拿下第一个审批,表示很意外。值得一提的是,君实生物和开拓药业都是上市公司,其雄厚的财力支持,恐远非真实生物可比,真实生物目前尚在谋求上市。截至12月26日,君实生物的总市值347亿港元,开拓药业的总市值为49亿港元,其中君实生物的股价上涨4.14%,股价为35.25港元/股。目前来看,阿兹夫定的口碑并未因为低价而达到预期,这或和真实生物尚未上市,自身实力受限有一定关系,但其他药企纷纷进入,对国产新冠口服药将是极大的推进。新冠药物前景广阔2022年1月19日,世卫组织突发卫生事件规划执行主任Mike Ryan,在达沃斯世界经济论坛的在线会议上指出,奥密克戎迅速传播之下,很可能还会出现新的变异株,经过变异后,新冠病毒彻底消失的可能性基本为零,人类终究要和它共存。这意味着未来新冠药物将是全球人类都几乎必备的药品,这无疑催生了巨大的市场需求,相关行业前景看好。疫情以来新冠相关药物的需求增长旺盛,市场规模增长迅猛。据方正证券评估,中国未来三年将完成覆盖10%总人口的药物储备,大概有1.5亿人拥有新冠口服药的储备。2023-2025年采购量将达到3000万份、5000万份、6000万份,但因行业竞争和研发力度的加大,新冠口服药单价或呈现逐年下降趋势,对应价格为600元/疗程、300元/疗程、150元/疗程,3年合计依然高达420亿元。对于国内第一个获批的阿兹夫定特效药,首创证券给出的市场空间为30亿元左右,上游原料药市场按5%-10%计算约为1.5亿-3亿元,下游分销配送市场按5%-8%计算约为1.5亿-2.4亿元。如果按方正证券的预测,420亿元以上的市场规模中上游原料药市场约为21亿-42亿元,下游分销配送市场约为21亿-34亿元。其他相关产业链也均能从中获得一定收益,对整个相关产业链都有一定的推动作用。而针对一年多以来,仅有真实生物的阿兹夫定获批的事实,有业内人士认为这和国内药企的基础研究能力相对较弱有关。“真实生物的阿兹夫定成为国内研发出第一款新冠口服药,也只是万里长征第一步,考虑到国内巨大市场需求,未来新冠口服药领域的跨企业合作、对外授权和CXO可能性很大。”不可否认的是,国内药企的相关动作并不快,但对药企来说,新冠药物将是难得的弯道超车机会。毕竟在新冠灭活疫苗的相关领域,已经成功催生出两家年盈利数百亿的药企,而从市场体量上看,新冠口服药的利润相比疫苗只高不低。即便短期内的新冠药物因为研发投入太大而无法盈利,但通过热点营销带来口碑的提升以及在资本市场关注度的提升,都对医药行业发展有不可估量的促进作用。此外还带动了国内药企的研发投入大大增加,推动了临床试验以及相关人才的积累,改善了国内药企的应急能力。目前辉瑞和真实生物已经走在前面,众多药企也在争先恐后进入赛道,未来通过良性竞争,真正对新冠有特效的国产低价药品或在不久后问世,这对饱受疫情折磨的国人来说,将是莫大的福音。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":896820484,"gmtCreate":1628570329948,"gmtModify":1628570329948,"author":{"id":"109525063074318","authorId":"109525063074318","name":"淹死的鱼","avatar":"https://static.tigerbbs.com/a42812c0a639ebfd0bffe0639042ba55","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"109525063074318","idStr":"109525063074318"},"themes":[],"htmlText":"<a 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