带状疱疹疫苗卖不动，疫苗企业“打骨折”

Group 1 - The price war for shingles vaccines has intensified, with the domestic vaccine from Baike Bio (688276.SH) seeing a price reduction from 1375 yuan to 464 yuan, a decrease of approximately 66% [2] - Baike Bio has previously adjusted the price of its shingles vaccine to enhance public awareness and promote health among the elderly, resulting in reduced revenue due to discounted pricing [3] - There are two types of shingles vaccines available in China: Baike Bio's live attenuated vaccine for individuals aged 40 and above, and GlaxoSmithKline's recombinant vaccine requiring two doses for individuals aged 50 and above [3] Group 2 - The imported shingles vaccine is also engaging in promotional activities, with a full course costing over 3200 yuan, but promotional offers have reduced the cost to around 1600 yuan, effectively a 50% discount [4] - Some regions in China have extended promotional activities for the imported shingles vaccine until September 30, 2026 [5] - The shingles vaccine market is viewed as having significant potential due to the aging population in China, despite challenges in increasing vaccination rates among the elderly [6] Group 3 - Baike Bio's shingles vaccine was approved for domestic sale in January 2023, initially boosting the company's performance, but sales have since declined, leading to a net loss of 158 million yuan in Q3 2025 [6] - GlaxoSmithKline's shingles vaccine sales in China have also been underwhelming, reflecting broader challenges in the market [6] - The willingness of the public to receive shingles vaccinations has decreased, prompting companies to resort to price promotions as a strategy to increase uptake [7][8]