经济观察报注意到，因销售和库存压力，百克生物的带状疱疹 疫苗已经出现了大批量的过期和退货现象。 作者：张铃 封图：图虫创意 经济观察报注意到，因销售和库存压力，百克生物的带状疱疹疫苗已经出现了大批量的过期和退货 现象。 百克生物在第三季度报告中详细披露了这一情况：报告期内，带状疱疹疫苗因受种者疾病认知程 度、疫苗消费意愿等多方面因素影响，部分以前年度已确认收入的带状疱疹疫苗到效期（指能够保 证质量的期限）而未能实现销售导致退货冲减收入2.3亿元；结合历史年度带状疱疹疫苗的发货情 况以及目前市场的接种情况，对于客户库存预计不能实现销售的近效期带状疱疹疫苗，预估退货冲 减收入9746万元。 带状疱疹因疼痛剧烈被称为"最疼皮肤病"，民间俗称"蛇缠腰""缠腰龙"，多发于50岁以上人群。 由于9%—34%的患者在治愈后会出现后遗神经痛，接种疫苗成为有效的预防方式。 目前，国内有两款带状疱疹疫苗上市，除了百克生物研发的减毒活疫苗外，还有由葛兰素史克（下 称"GSK"）研发、智飞生物（300122.SZ）代理的重组疫苗。 国产带状疱疹疫苗的价格再次下调。 12月23日，江西省疾控中心发布公示，百克生物（688276.SH） ...

12月23日，江西省疾控中心发布公示，百克生物（688276.SH）带状疱疹疫苗的采购价格由原来的1375元/针下调至464元/针，大约是此前价格的三折。 经济观察报 记者 张铃 实习生 田韫莘 国产带状疱疹疫苗的价格再次下调。 截至12月24日收盘，百克生物股价报19.19元/股，总市值79.38亿元。 带状疱疹减毒活疫苗是百克生物的核心管线之一。目前，百克生物正面临带状疱疹疫苗的销售与库存压力。 （作者 张铃） 百克生物2025年第三季度报告显示，其三季度营收为1.9亿元，同比下降53.5%，业绩下滑的主要原因是带状疱疹疫苗退货冲减收入、实施惠民政策单价降低 导致收入减少。 带状疱疹因疼痛剧烈被称为"最疼皮肤病"，民间俗称"蛇缠腰""缠腰龙"，多发于50岁以上人群。由于9%—34%的患者在治愈后会出现后遗神经痛，接种疫苗 成为有效的预防方式。 目前，国内有两款带状疱疹疫苗上市，除了百克生物研发的减毒活疫苗外，还有由葛兰素史克（下称"GSK"）研发、智飞生物（300122.SZ）代理的重组疫 苗。 2025年3月起，带状疱疹疫苗的价格博弈已经出现，但多为短期优惠。经济观察报曾报道，因销售量不及预期，进口带状 ...

Core Insights - The article discusses the rising concern over shingles (herpes zoster) in China, particularly among younger individuals in high-stress professions, and highlights the low vaccination rates for shingles vaccines in the country [2][3][5] Group 1: Shingles and Its Impact - Shingles is known as one of the most painful skin diseases, primarily affecting individuals over 50, but recent cases among younger celebrities indicate a shift in its demographic [2][5] - The prevalence of postherpetic neuralgia, a severe complication of shingles, affects 9% to 34% of patients, emphasizing the importance of prevention over treatment [2][8] Group 2: Vaccination Challenges - The vaccination rate for shingles in China is alarmingly low, with only 0.79% of eligible adults vaccinated, compared to 26.8% in the U.S. for those over 50 [8][10] - The high cost of vaccines, with imported vaccines priced at 3,260 yuan and domestic ones around 1,400 yuan, poses a significant barrier to vaccination, especially for retirees whose average monthly pension is about 3,200 yuan [10][11] Group 3: Market Dynamics - The vaccine market has seen a price war since 2025 due to lower-than-expected sales, with prices for imported vaccines dropping significantly [3][11] - Companies are struggling with inventory issues, particularly for domestic vaccines, leading to promotional activities like "buy one, get one free" to boost sales [11][12] Group 4: Public Awareness and Education - There is a general lack of public awareness regarding shingles and its associated pain, which hinders vaccination efforts [8][12] - Companies are utilizing social media and other platforms for education and marketing, but face restrictions on direct advertising, leading to creative strategies for outreach [12][14][15]

Core Viewpoint - The article highlights the rising concern over shingles (herpes zoster) among younger individuals, particularly in high-stress professions, and the low vaccination rates in China, which pose challenges for the shingles vaccine market. Group 1: Shingles and Its Impact - Shingles is known as one of the most painful skin diseases, primarily affecting individuals over 50, but recent cases among younger celebrities indicate a shift in its prevalence [1][4] - Approximately 9%-34% of shingles patients may experience postherpetic neuralgia, leading to severe pain, which is often underestimated by the public [4][5] Group 2: Vaccination Challenges - The vaccination rate for shingles in China is alarmingly low, with only 0.79% of individuals aged 40 and above vaccinated, compared to 26.8% in the U.S. for those aged 50 and above [5] - High vaccine prices are a significant barrier, with imported vaccines costing around 3,260 yuan and domestic vaccines approximately 1,400 yuan, making them unaffordable for many retirees [7][8] Group 3: Market Dynamics - The vaccine market has faced challenges due to declining birth rates and increased competition, leading to price wars among over 30 companies involved in shingles vaccine development [2][8] - Recent promotional activities, such as "buy one get one free," have temporarily boosted vaccination rates but may lead to long-term declines in overall vaccination enthusiasm due to price sensitivity [7][8] Group 4: Public Awareness and Education - There is a significant lack of public awareness regarding shingles and its associated pain, which hinders vaccination efforts [3][4] - Companies are utilizing social media and other platforms to promote shingles awareness and vaccination, but the effectiveness of these campaigns varies [9][10][11]