In the land of China, magic medicine is never a new story. This time, the same story happened to Pian Tsai Yi.

Within a few days, the value of the national first-class secret traditional Chinese medicine tablet, known as one of the three treasures of Fujian, soared and became a tight commodity that could not afford it.

The ex-factory price of slices is 590 yuan, one piece. E-commerce platform generally at more than 1000 yuan per piece, the black market price has reached 1600 yuan per grain, compared with the ex-factory price of 590 yuan more than doubled, and "hoarding how much can be shipped."

Some people compare the market price of gold with that of gold, which is more than 400 yuan (1g). Eating a piece of oyster that weighs 3G is equivalent to eating 4G gold.

Since the company went public in 2003, the company has adjusted its price 17 times, an increase of nearly five times, but its price adjustment is almost a fraction of the increase in the company's stock. For this traditional Chinese medicine stock, which is known as "Maotai in medicine", someone in the China Securities News once analyzed: if you look at the stock price in the last 10 years, the cumulative increase of Pian Tsai Yi is more than 31 times, which is even much better than the 15 times increase of Maotai in the same period.

In September 2020, National Healthcare Security Administration announced the interim measures for the Administration of drugs in basic Medical Insurance, which made it clear that eight categories of drugs, such as drugs and health care drugs, which mainly play a nourishing role, would no longer be included in the basic Medical Insurance Drug catalogue, completely cutting off the possibility of Pianzi returning to the medical insurance catalogue. However, in the few months from October 2020 to now, the share price of Pian Tsai has doubled from more than 200 yuan to more than 400 yuan, and the total market capitalization has increased by more than 100 billion yuan.

At the closing price of 446.90 yuan per share on June 25, the total market capitalization reached 269.6 billion yuan. The company, which has only a single category of products, unexpectedly ranked third in the pharmaceutical sector, second only to Hengrui Pharmaceuticals and Zhifei Biology.

Investors' enthusiasm and confidence in Pian Tsai Tsai are high. Lin Yuan, chairman of Shenzhen Garden Investment, who has invested in slices for many years, compared Pian Tsai Yi with Maotai in a financial interview with Sohu a few years ago, saying that its price was twice that of Maotai in the 1970s and 1980s, and now Maotai costs about 1500 yuan. Pian Tsai Yi is only more than 500 yuan, and there is still huge room for price increases.

Behind the rapid expansion and brilliant colors, many people in it feel the fear before the soap bubble breaks. In the interview, a "scalper" revealed this fear. He said: "even if I received it, I didn't keep it. I sold it immediately. I didn't dare to press the goods. The price was too high." "

"it's like beating a drum to spread flowers. Zheng Jiwei, an assistant professor at the School of Management at Lancaster University, analyzed in an interview with eight-point good News that now the herd effect has blown the film into a bubble, that is, its value has deviated from its actual value, and it is very likely that at some point, a weak external blow can make the bubble burst.

In fact, there is no shortage of myths in the field of traditional Chinese medicine.

The last "Maotai in medicine" was Dong E E Jiao. Data show that the retail price of Dong E E Jiao soared from 80 yuan / kg in 2001 to 5996 yuan / kg in 2019, raising the price 19 times in 19 years, 75 times in some years, and raising the price three times in one year.

In 2019, an Angong Niuhuang pill produced in the 1960s fetched a high price of 110000 yuan per pill. The reason why it can be sold at such a high price is because the medicine contains natural rhino horns. It is rumored that rhino horn is the key to the effect of Angong Niuhuang pill, and in 1993, the state designated rhinoceros as a protected animal, and since then, rhino horn has been replaced by buffalo horn concentrate. Because of this, Angong Niuhuang pills produced before 1993 are considered to be more valuable for collection.

Although the shelf life is only 5 years, the people firmly believe that there is no shelf life for traditional Chinese medicine pills, and if they are preserved properly, they can be effective forever. Therefore, you can also see many posts asking for Angong Niuhuang pills at high prices "20 or 30 years ago" on the Internet.

In recent years, on the grounds of the increase in the price of raw materials, the ex-factory price of Angong Niuhuang pills has also risen gratifying. Among them, a manufacturer directly set the highest price of its products to 1580 yuan per pill on the grounds that bezoar and musk were used as natural bezoar and "double nature" of natural musk.

However, a "scalper" who is also buying Maotai, Dong E E Jiao, and Angong Niuhuang pills told eight good news: "recently, the purchase price of Pian Tsai Yi (purchase price) has exceeded that of Angong Niuhuang pills. "

In addition, Yunnan Baiyao, which is the same secret formula of Yunnan Baiyao and Ma Yinglong's Musk Hemorrhoid Ointment, has caused heated discussion in recent years because of the increase in price.

The story of "divine medicine" from generation to generation has been spread for a long time in the land of China, which is eager for health.

As the magic medicine of financial products

The price of magic medicine is theoretically affected by the relationship between supply and demand. If there are fewer raw materials, the supply can not keep up, or if more people get sick and buy medicine, the demand will rise, and the price will rise.

However, there is a limited number of people who are sick and do not believe in doctors who believe in divine medicine. If enterprises want to make a lot of money, they must find ways to expand demand and raise prices.

To expand demand, we have to let people who are not sick buy medicine. Therefore, the divine medicine has to focus on the sub-health market and health products.

Therefore, "tonify the kidney and strengthen the body and drink Hongmao", A gelatin cake "one tablet a day will make you happy".

Therefore, divine medicines with the properties of health products all have basic "stir-frying", and they are easier to stir up than the concept of "medicine". "because medicine does not cure the disease, there are standards, but health products do not."

As for how to let believers of divine medicine know and buy their own health care medicine, rather than others, it requires a "drumming" operation, after all, it has long been said that there are all kinds of medicine.

This operation generally starts with the scarcity of raw materials and the lack of supply.

The above-mentioned dealers told eight good news that Angong Niuhuang pills are always at the front, because one of the raw materials of Angong is rhino horn, which is illegal and can only be auctioned.

The supply of natural musk, one of the raw materials of Pianzi, is also decreasing, and its medicinal sources are forest musk deer and horse musk deer, both of which are second-class protected animals in the country. In 2005, the Food and Drug Administration will strictly limit the scope of use of natural musk to key proprietary Chinese medicines such as specific drugs and key medicines.

Once the market receives the signal of insufficient supply, the direct response is that prices rise, and as soon as prices rise, the potential market expands. "if the market is big enough, there will be a black market, such as scalpers."

"the purpose of these people to buy medicine is not to cure the disease, but to make a profit from the price difference. "

Eight o'clock good News interviewed a number of merchants who recycled slices. Most of them recycled Maotai, Bird's Nest, Angong Niuhuang pills, and Cordyceps sinensis all the year round. Now they are recycling Pian Tsai Wan, and the price and limelight of Pian Tsai Cai have already overshadowed Angong Niuhuang Pill.

"I only recycle it in the first line. I have to give it to the second line to earn a price difference of more than NT $20, and the second line to the third line, and the top one is the third line, that is, the banker," one scalper told eight-point good News. "the competition among the peers is particularly fierce, the market is unstable, and the market quotations are all blindly quoted. We dare not keep it in hand even if we receive it. We sell it and dare not put pressure on it. "

After some operation, there are fewer films in circulation in the market, and the price is higher.

However, "after all, the money of capital is limited, and it's not interesting to play with yourself," Zheng Jiwei observes. "but after someone makes a difference, people's conformity mentality will play a role. "

Loyal followers of divine medicine are willing to buy medicine at a high price, and there are two results they follow: one is that high exposure attracts limited attention and makes more people know about the brand, and the other is that "the price goes up." it's a signal in itself. "when this thing is cheap, everyone may think it's not good, but if its price goes up, people think it's good." As a result, there are fewer films in circulation and the price is higher.

The stock market is more sensitive, with insufficient supply and rising demand, which in itself is exciting. Investors'"expectations have been changed", and the stock price soared. With the shortage and price adjustment of musk again and again, Heng Rui's crown of "Maotai in medicine" finally fell to the head of Pian Tsai.

Maotai is phenomenal, it has become a symbol, a symbol of status. In reality, divine medicines, as health products, do attempt to copy the "Maotai way."

Miraculous medicines also have to package themselves as high-end gifts. The aforementioned Fujian people told eight o'clock good news, "in the past, we all took more than a dozen boxes to give gifts. Before, we took 420 tablets, which were not so expensive, but now they are all fried."

A seller of Angong Niuhuang pills and Pian Tsai Yi told eight good news, "those who collect or use them all belong to those who are relatively rich, and only those who have money can maintain good health."

Compared with other miraculous medicines, Pianzi has a secret formula as a powerful moat. After all, experts can question boiled donkey skin and carry Hongmao medicinal wine, but there is almost no way to start with Pian Tsai Yi whose ingredients are kept secret.

The sword that punctured the bubble was handed into the hands of regulators. "it takes time for information not to be transparent to transparent, and it takes time for the market to return to rationality, but it can be stopped if regulators are willing to act."

Some people in the industry revealed to eight-point good news that "they have already been talked about."

As a divine medicine of faith

Although there is no evidence of evidence-based medicine to prove the efficacy of divine medicine, Zheng Jiwei told eight good news that in terms of economic principles, divine medicine can be hyped, "it must be a part of people, and a large number of people recognize the value of this medicine."

Traditional Chinese medicine, as a kind of culture, symbiosis with Chinese civilization. There are stories of traditional Chinese medicine in the great plague and minor plague in the past five thousand years. No matter what the individual's attitude towards traditional Chinese medicine, there is always a part of Chinese dictionaries about diseases coming from traditional Chinese medicine, which affects and even shapes the Chinese people's understanding of diseases.

Despite the continuous disputes between traditional Chinese and western medicine, Chinese people are obsessed with traditional Chinese medicine, and scientists are constantly trying to find a way out for traditional Chinese medicine.

And the magic medicine, is to take advantage of the feelings of the Chinese people, in the name of traditional Chinese medicine, set off wave after wave of scams.

The starting point of the scam is the illusory tale of rejuvenation.

Angong Niuhuang Pill, known as "reviving the dead and reviving pills", is said to have saved the life of a British envoy who was unfortunately infected with the plague during the reign of Qianlong, and also restored the "brain-dead" Phoenix Satellite TV anchorwoman to her senses.

Hongmao medicinal wine, which also originated in the Qing Dynasty, is not bad. According to legend, after Daoguang Emperor, who was "busy with government, disturbed internal and external diseases and worried about depression," took the medicinal wine, "the spleen regulated stomach harmony, the appetite increased greatly, and the spirit was getting better and better day by day." "

Traditional Chinese medicine, which has a long history, can overcome cancer tumors and difficult and complicated diseases that Western medicine has not been able to overcome for a long time, which has almost ignited people's ardent hopes for traditional Chinese medicine. People who have unlimited hopes and hopes for traditional Chinese medicine are always willing to believe it in their hearts. and willing to pay money for it.

Merchants play the banner of "royal" and "tribute", no doubt in order to break into the high-end consumer groups, but at the end of the audience, it caters to the inertia of consumers and makes the legend true. "if the emperor has used it, what else is there to doubt?" "

The word "inheritance" can always hit the softness of people's hearts. The "secret recipes", which have been inherited for thousands of years and hidden in one family, are originally "treasures of history". The successors "made a decision against their ancestors" before they dedicated them to the people and "benefit the common people."

This kind of beautiful legend, which is full of twists and turns and gripping, coincides with the Chinese people's spirit of being good and attaching importance to history, and each story can gain a large number of loyal followers.

The routines of traditional Chinese medicine, inheritance, royal, secret, natural and miraculous medicine have been tried and tested all the time.

A film dealer told eight good news that the "palace secret medicine" from the "imperial doctor of the Ming Dynasty who was dissatisfied with tyranny" was regarded as the "treasure of the town house" by the people in Fujian.

During the epidemic, enthusiastic citizens of Zhangzhou wanted to donate a "good anti-inflammatory effect" to treat COVID-19.

When eight o'clock Jiawen relayed to a local in Fujian that "Pian Tsai Yi is a medicine, not a health product, and normal people may have diarrhea," the faithful believer retorted, "the doctor is definitely not from Fujian." or don't know this thing at all.

A magic medicine as a medicine.

Tablets, which are increasingly used for daily health care and gifts, are not health products, but genuine medicines, and they are both prescription drugs and Class An over-the-counter drugs, which need to be taken under the guidance of doctors or licensed pharmacists.

What is even more embarrassing is that as a drug, Pian Tsai Yi has successfully raised prices against the trend in the context of strict control of drug prices by health insurance, which almost shows that its identity as a medicine has not been recognized by the mainstream of the medical profession.

Since 2018, because of several key policies such as national health insurance negotiations and volume procurement, drug prices in China's pharmaceutical market not only can not rise casually, but also plunge sharply.

At the beginning of entering China, PD-1 inhibitors, a revolutionary new anticancer drug, were once expensive, and the annual treatment cost was about 500000 yuan. after National Healthcare Security Administration's negotiations in 2020, the prices of three domestic PD-1 were reduced to health insurance, among which Hengrui Pharmaceutical products reduced the lowest annual cost to less than 30, 000 yuan. Although the negotiation of imported PD-1 has not been successful, the price has been greatly reduced in the form of charitable donation and so on.

In the fifth batch of collection that just ended, the prices of more than 200 products of 61 varieties have been greatly reduced, with an average price reduction of 56%. Among them, there are many drugs that are considered to be very effective in the industry, including rivasaban tablets, budesonide suspension and metoprolol tartrate tablets.

Under the policy tenet of benefiting the people's livelihood, all clinically necessary new and good drugs are under pressure to reduce prices. However, Pian Tsai Yi has taken a retrograde road and has a tendency to flow smoothly all the way. People in the industry said with a smile: "it is better to stir-fry fillet than to stir-fry PD-1." "the implication is that Pian Tsai-fu is neither necessary nor life-saving.

More subtly, although it is regarded as a necessary "magic medicine", Pian Tsai has not been included in the national health insurance catalogue and has not been included in the national essential medicine catalogue for a long time. In the case that public medical institutions are still market-led, these two catalogs are almost "certificates" for drugs to enter the mainstream market. It is not included, which also means that the therapeutic value of the drug has not been officially recognized.

This also forces pharmaceutical companies with a single variety, such as Pian Tsai Yi, Yunnan Baiyao and Dong E Jiao, to constantly seek new growth points in major health areas such as health products, and even in cosmetics, daily chemical and other fields.

Even from the logic of the investment market, the performance of people from all walks of life is very paradoxical after the price increase.

The price of Haidilao rose at the beginning of the year, and the value of its Hong Kong stock market lost more than HK $200bn in a few months, then the management announced a decision mistake, restored the original price and publicly apologized, but the impact has been almost irreparable.

Whether it is Donkey-hide gelatin or tablets, the increase in ex-factory prices of drugs has almost led to a surge in market value. Some senior figures in the industry pointed out that this means that these products have been divorced from the nature of drugs and alienated into "financial products".

Price increases, purchase restrictions and other means are external incentives, fuelled by capital, resulting in buyers' and investors' great enthusiasm for products.

Such enthusiasm is also extremely fragile. "they are similar to some kind of drumming. It is bought in for profit, and in order to sell it in the future, some people think that the drug is easy to use. "in the process, the price will keep rising, and under the influence of the herd mentality, there will be a bubble in the market-- the price deviates too much from the real value. At this time, a very weak external influence, such as: once people suddenly feel that the drug is not so magical, they do not want to buy it, and the bubble will burst instantly, no matter how beautiful it is.

So, does a piece of gold that is more expensive than gold really have a wonderful effect?

According to the drug manual, Pian Tsai Yi is a kind of drug that can clear away heat and detoxification, cool blood and remove blood stasis, reduce swelling and pain, and is mainly used for acute and chronic viral hepatitis caused by heat-toxin and blood stasis, carbuncle, furuncle, nameless swelling, injury and all kinds of inflammation.

According to the people of southern Fujian, "pain" generally refers to all "heat, poison, swelling and pain", and "tablet" is just a little bit of medicine that can repel all "pain".

In the business world, it is popular to eat sliced oysters before drinking Maotai. This is also believed to be the reason why the pancake is getting louder and hotter-as part of the wine culture, its role in relieving alcoholism and protecting the liver makes it have the value of high-end gifts.

However, a clinical pharmacist told eight o'clock good smell that Pian Tsai Yi can be used in the wrong condition, not heat, toxin and blood stasis, both before and after drinking alcohol. Ethanol will magnify the medicine and increase the degree of drug damage.

In 2015, Mei Quanxi, a well-known expert in traditional Chinese medicine, wrote in the China Medical Daily, also mentioned to guard against the harm caused by the overuse of valuable proprietary Chinese medicines.

In particular, it is pointed out that Yunnan Baiyao once poisoned a college student in Guangzhou.

Cinnabar and realgar in Angong Niuhuang pills contain mercury compounds and arsenic salts, which can be oxidized to arsenic trioxide (the main component of arsenic). Long-term and excessive use may lead to adverse reactions such as rapid heartbeat and dyspnea. On the other hand, the film often hinders the treatment of the disease.

Eight good News in an interview, a doctor of traditional Chinese medicine hepatobiliary department briefly commented on the hype: "maybe you can stir-fry it, it's best not to eat it casually." "

Faith is immortal, divine medicine is immortal.

In 2019, due to the shortage of donkey skin resources, the share price of Donkey Ejiao, which had continuously raised the price of donkey hide products, halved, and a "donkey skin" supported by faith was finally blown out. Commentators at that time believed that Ejiao had been attacked by public opinions such as health insurance fee control policy, "boiled donkey skin", "IQ tax", "uselessness of traditional Chinese medicine" and so on.

The disillusionment of the Ejiao myth has not stopped the rise of more magic drugs. Pancake was chosen, and it was analyzed that the reason why it was more suitable for taking over was the higher firewall, the national top secret formula, and the qualification for the use of scarce natural musk.

Natural, scarce, coupled with meaningful stories, the broad and profound pharmacology of flexing teeth is almost the beginning of divine medicine shared by all. They are mysterious and detached, and there are no small-probability side effects that are clearly written in the instructions, so as not to cause fear.

Divine medicine often proves itself through a variety of healing stories, even if it is a story of a blind cat meeting a dead mouse, it looks more intimate than a pile of data. How much people love stories.

In the era of evidence-based medicine, the story of cure no longer works in mainstream medicine. however, stories that make healthy people healthier have found a bigger market in people's health anxiety, and the hunger marketing of the word "scarcity" has satisfied people's appetite.

For those who have little evidence and can only rely on stories to circulate, this may be a thin hope of health for consumers, but for speculators who are keen to seize every opportunity, this is almost an indisputable belief in making money.

As long as people's belief in nature and magical stories remains the same, and the belief of the whole society in money remains the same, the magic medicine will not die out. Without donkey-hide gelatin, there will be a piece of jelly, and without a piece of jelly, there will be something else.