九典制药(300705) - 九典制药调研活动信息

Group 1: Company Overview - The company is Hunan Jiudian Pharmaceutical Co., Ltd., with stock code 300705 and bond code 123223 [1][2]. Group 2: Investor Relations Activity - The investor relations activity took place on November 27, 2023, from 10:00 to 11:30 AM in the company meeting room [2]. - The meeting was attended by representatives from Huazhong Medicine and included a Q&A format to address investor inquiries [2]. Group 3: Business Model and Sales Performance - The company is transitioning to a semi-self-operated model, which aims to improve operational efficiency and profitability through refined management [2]. - As of the third quarter of this year, the sales proportion of the semi-self-operated model for the product Loxoprofen Sodium Gel Patch in Henan, Shandong, and Hunan provinces exceeded 10% [2]. Group 4: Market Insights - The Loxoprofen Sodium Gel Patch has a higher sales proportion in regions such as Beijing, Zhejiang, Shanghai, Guangdong, and Sichuan [3]. - The product won a bid in the Guangdong Alliance region last year at a price of 18.19 yuan per patch, with good execution observed in Guangdong and Henan provinces [3]. - A recent bid in Zhejiang Province was won at a price of 17.37 yuan per patch, which is expected to expand the product's sales range and enhance market share [3]. Group 5: Product Development and Competition - The Pepper Seven Musk Gel Patch is expected to be submitted for production approval by the end of this year, with a projected approval in 2025, focusing on hospital channels for sales [3]. - Data from Yao Rongyun indicates that the compound annual growth rate (CAGR) for chemical drug patches in hospitals over the past three years is approximately 24.22%, while traditional Chinese medicine patches have a CAGR of about 5.59% [3].