70倍价差！四川百利药业因558元高价口服溶液遭医保局问询，系百利天恒全资子公司

Core Insights - Yunnan Provincial Medical Insurance Bureau issued an inquiry letter to Sichuan Baili Pharmaceutical regarding the high price of its Enalapril Maleate oral solution, which is priced at 558 yuan, significantly higher than the tablet form priced around 8 yuan, indicating a price discrepancy of nearly 70 times [1] Group 1: Inquiry Details - The inquiry requests detailed information on the production cost, terminal price, R&D investment, manufacturing costs, and other price components of the Enalapril Maleate oral solution [1] - The company is asked to provide sales volume and revenue data for the past five years, along with actual profit figures as a research and production entity [1] - The inquiry seeks clarification on the rationale and necessity of the price difference between the factory and terminal prices, including a breakdown of all sales expenses [1] - The company is required to address whether there have been any improper marketing practices or price inflation through agents that could burden patients and the medical insurance fund [1] Group 2: Market Context - On September 15, Shanghai Sunshine Pharmaceutical Procurement Network announced the suspension of procurement qualifications for certain drugs, including the Enalapril Maleate oral solution from Sichuan Baili Pharmaceutical, due to non-compliance with price adjustment requirements [2] - The tablet form of Enalapril Maleate has undergone significant price reductions through national centralized procurement, with prices dropping from 19.15 yuan to 5.66 yuan, a total decrease of 70.4% [2] - The oral solution form is relatively scarce, with only two manufacturers, and its development and production face higher technical challenges compared to tablets [2] Group 3: Company Financials - Baili Pharmaceutical, a wholly-owned subsidiary of Baili Tianheng, reported a revenue of 113 million yuan in the first half of the year, accounting for 66% of Baili Tianheng's total revenue, but also recorded a net loss of 23.48 million yuan [2] - Baili Tianheng's financial report indicates a significant decline in revenue, with a total of 171 million yuan in the first half of the year, a year-on-year decrease of 96.9%, and a net loss of 1.12 billion yuan, a decline of 124.0% [3] - The company operates in two main business segments: chemical drugs, which provide stable income, and biopharmaceuticals, which include antibody drugs and ADCs [3]