Core Viewpoint - The quality crisis surrounding Tianjin Weiming Biological's interferon α2b spray has led to significant regulatory and financial repercussions for the company, highlighting the shift in drug procurement policies towards prioritizing quality over price [1][2]. Group 1: Regulatory Impact - The incident coincides with a critical period for the 11th batch of centralized procurement policies, which emphasizes a transition from a "low price only" approach to a "quality-focused" strategy [2]. - The recent announcement of the "Optimized Drug Procurement Plan" indicates a strong signal for the inclusion of high-risk products to be approached with caution [2]. Group 2: Production Concerns - Despite official reports citing "biological activity" deficiencies, there remain unanswered questions regarding the root causes, such as raw material quality control, production process deviations, or cold chain transportation failures [3]. - The company's lack of communication regarding the cause of the crisis has intensified market concerns [3]. Group 3: Financial Consequences - The company has reported three consecutive years of losses, with an expected net loss of 155 million yuan in 2024, exacerbated by the suspension of the spray, which contributed 229 million yuan in revenue in 2022, accounting for 64.27% of total revenue [4]. - The halted sales could lead to significant inventory write-downs and potential penalties for breaching procurement agreements [4]. - The quality issues could result in the company being removed from the procurement list and placed on a credit blacklist, jeopardizing its market presence in northern China [4]. Group 4: Industry Lessons - The crisis exposes deeper contradictions within the centralized procurement era, raising questions about how pharmaceutical companies can maintain quality while competing on price [5]. - The case of Weiming Pharmaceutical illustrates that having extensive clinical data is insufficient; establishing a comprehensive quality management system is essential for survival [5]. - As the healthcare regulatory framework tightens, companies are urged to conduct thorough investigations and rebuild trust rather than avoiding discussions about their financial performance [5].