Core Viewpoint - Dongyangguang Pharmaceutical has launched an upgraded version of its flu medication, Oseltamivir Phosphate Granules (brand name: Kewai®), with a new packaging of 15mg×18 bags, exclusively available on JD Health, aiming to capture market share during the flu season [1][5]. Product Launch and Pricing - The new Kewai® product is an upgrade from previous versions, which included 15mg×10 bags, and is marketed as the "Big Blue Box" [5]. - The price of the new product was listed at 79 yuan on November 19 and increased to 89.6 yuan by November 20 [5]. - Compared to similar products like Ganliqing® and Shikewai®, which are priced at 96 yuan, Kewai® is positioned at a higher price point, approximately three times that of its competitors [7]. Market Position and Competition - Kewai® has historically been Dongyangguang's flagship product, holding over 70% market share in the domestic flu medication market [9][10]. - The company faces increased competition as new entrants like Ganliqing® and Shikewai® have recently received approval, potentially impacting Dongyangguang's market dominance [7][9]. - The pricing strategy of Kewai® aligns closely with original research products, indicating a high-price approach [7]. Financial Performance - Dongyangguang's revenue from Kewai® capsules has significantly declined post-national centralized procurement, with projected revenues of 5 billion yuan, 7 billion yuan, and 3 billion yuan from 2022 to 2024, compared to 16.6 billion yuan in 2019 [9]. - The company’s overall revenue is projected to be 37 billion yuan, 63 billion yuan, and 37 billion yuan from 2022 to 2024, reflecting fluctuations influenced by market conditions [9][11]. Regulatory and Market Dynamics - The recent national drug procurement results were unfavorable for Dongyangguang, as its Oseltamivir Phosphate Granules did not win a bid, despite high demand indicated by a reported volume of 1.11 million bags [12]. - The competitive landscape is shifting, with only two companies winning bids in the latest procurement, which may lead to increased pressure on Dongyangguang to adapt its sales strategy, particularly in e-commerce and outpatient markets [12].