Hunan Jiudian Pharmaceutical (SZ:300705) Xin Lang Cai Jing·2025-11-18 12:19Core Insights - Hunan Jiutian Pharmaceutical Co., Ltd. successfully won the bid for its core product, Loxoprofen Sodium Gel Patch, in the 11th national drug centralized procurement, with a total bid quantity of approximately 30.12 million patches across 11 provinces [2][3] - The company is undergoing a transformation towards innovative drugs, focusing on oncology and chronic diseases, with multiple R&D centers established to leverage regional advantages [4][5] - Jiutian Pharmaceutical is implementing a multi-faceted strategy to address market changes post-bid, including expanding its sales channels and enhancing its product pipeline through investments and acquisitions [3][4] Group 1: Bidding and Market Expectations - Jiutian Pharmaceutical's Loxoprofen Sodium Gel Patch was successfully selected in the centralized procurement at prices of 17.88 yuan for 4 patches, 26.82 yuan for 6 patches, and 35.76 yuan for 8 patches, with a total of 30.12 million patches to be supplied [2] - The company anticipates a potential increase in sales volume due to the growing demand in the chronic pain treatment market, although short-term profit margins may be pressured due to procurement requirements [2] Group 2: Response Strategies to Procurement Challenges - The company plans to enhance its sales strategy by focusing on outpatient markets and accelerating brand development while also investing in new product launches and pipeline expansion through acquisitions [3] - Jiutian Pharmaceutical emphasizes its integrated supply chain advantage, combining formulations, active pharmaceutical ingredients, and excipients to strengthen cost control and ensure product quality [3] Group 3: Innovative Drug Transformation and R&D Pipeline - Jiutian Pharmaceutical is adopting a strategy of multiple R&D centers and various drug forms to accelerate its innovative drug development, particularly in oncology and chronic diseases [4] - The company is planning to initiate Phase II clinical trials for its key project, JIJ02 gel, in the first half of 2026, while also implementing a share repurchase plan to align interests with its core team [5]