Di Yi Cai Jing Zi Xun·2025-09-11 15:31Core Viewpoint - The announcement of HPV vaccines being included in the national immunization program is expected to positively impact the HPV vaccine market and related companies, which have been struggling with declining performance [1][3][4]. Group 1: Market Response - On September 11, HPV vaccine concept stocks in the A-share market saw a rise, with notable increases in companies such as Kangla Weishi (up 3.09%), Wantai Biological Pharmacy (up 2.69%), Zhifei Biological Products (up 1.98%), and Watson Bio (up 1.71%) [1]. - The National Health Commission's announcement regarding the introduction of HPV vaccination services for eligible girls and its inclusion in the national immunization plan is a significant development [1][2]. Group 2: Industry Challenges - HPV vaccine manufacturers are currently facing challenges due to declining sales and increased competition in the market, leading to a price war [3][4]. - The performance of HPV vaccine companies has been poor, with Wantai Biological reporting a revenue of 844 million yuan, down 38.25% year-on-year, and a net loss of 144 million yuan [4]. - Watson Bio's revenue was 1.154 billion yuan, down 19.47%, with a net profit decline of 74.69% [4]. - Zhifei Biological reported a revenue of 4.919 billion yuan, down 73.06%, and a net loss of 597 million yuan, a 126.72% decline [4][5]. Group 3: Potential for Growth - The global incidence of cervical cancer is rising, particularly among younger women in China, highlighting the need for effective HPV vaccination [6]. - The World Health Organization recommends that countries include HPV vaccination in their national immunization programs, prioritizing girls aged 9 to 14 [6]. - Currently, 143 out of 194 WHO member countries have included HPV vaccines in their national immunization plans, indicating a global trend towards increased vaccination [6]. - With the supply of HPV vaccines becoming sufficient and prices decreasing, the timing for including HPV vaccines in the national immunization program in China is considered ripe [7]. - The minimum price for HPV vaccines has dropped to 27.5 yuan per dose, significantly lower than initial prices, making it more accessible [7]. - If included in the national immunization program, HPV vaccines would likely see increased sales despite lower profit margins compared to local immunization programs [7].