The Zhitong Finance App learned that the Emmy Vaccine (06660) announced on the evening of the 26th that the company has recently submitted a pre-clinical trial application for a novel, high-cost human diploid rabies vaccine. This is another major milestone in Emmy Vaccine's promotion of mad vaccine development according to the established strategy after the layout of the iterative upgrade series of rabies vaccines was completed at the beginning of this month.

Mad Mighty manufacturers make efforts to lead the global industry's in-depth technological iterative upgrading

According to the announcement, Le Méridien's novel process is a highly affordable human diploid rabies vaccine with many innovations. It pioneered the technical bottlenecks of the traditional process with low virus titer and low yield, and optimized and innovated the purification process. Compared with traditional domestic human diploid rabies vaccines, it has significantly improved safety and product quality, and has large-scale industrialized production capacity.

From the Vero cell freeze-dried human rabies vaccine to the serum-free iterative rabies vaccine that is scheduled to be declared for marketing this year, to the novel and high-cost human diploid rabies vaccine, to the mRNA rabies vaccine, Emmy is the second largest rabies vaccine manufacturer in the world. Relying on independent research and development, it is gradually implementing the iterative upgrade of rabies vaccine, a major single product. With its rare wild vaccine development and production capabilities in the industry, it is leading the deep technological iterative upgrading of the global rabies vaccine.

From 2015 to 2021, the average annual compound annual growth rate of rabies vaccine issued in China was 9%, and rabies vaccine usage was huge. With the expansion of the pet market and the spread of pre-exposure immunization knowledge, it is expected that demand for human rabies vaccine will continue to grow in the future. Industry consulting agencies estimate that the rabies vaccine market will exceed 20 billion yuan by 2030.

In the current mad vaccine market, the Vero Cell freeze-dried human rabies vaccine sold by Le Méridien has received a 100% approval rate in batch issuance by the China Public Prosecution Service for 16 consecutive years since it was marketed. In recent years, its market share has remained in the top two. Looking to the future, compared to the market space where the growth curve continues to rise, Le Meridien, a major manufacturer, will undoubtedly gain full opportunities in market competition.

In addition to Human Diploid, Emmy also has two Iterative Upgrade Mad Seedlings that are at the forefront of the industry, which is quite impressive. According to a recent announcement from Le Méridien Vaccine, the serum-free iterative rabies vaccine, which has entered the preparation period for marketing, is completely different from the current Vero cell rabies vaccine containing serum and the human diploid rabies vaccine containing serum. It is an iteratively upgraded product. Animal serum residue in vaccine products is one of the important factors leading to allergic and other adverse reactions in vaccinated people. The serum-free iterative rabies vaccine developed by Le Méridien does not contain animal serum, which significantly improves safety and reduces the probability of adverse reactions. Up to now, no serum-free rabies vaccine has been approved for marketing on the global market.

Le Méridien Vaccine's self-innovated mRNA technology platform has passed the verification of clinical trial data on tens of thousands of subjects. The mRNA iterative rabies vaccine developed on this platform is the first non-COVID-19 mRNA vaccine that the National Drug Evaluation Center has accepted clinical trial applications. Numerous animal tests have proved that compared with the traditional rabies vaccine through virus culture, the vaccine has the characteristics of significantly reducing the number of vaccinations, significantly speeding up the production of protective neutralizing antibodies, and significantly enhancing the overall protective effect.

In addition, according to the announcement, Le Méridien Vaccine has completed the construction of a serum-free iterative rabies vaccine workshop with production capacity and meeting international standards, and a high-cost human diploid rabies vaccine workshop with a novel process, and is undergoing equipment debugging and verification work. As a result, the launch process for these two new iterative products will be greatly accelerated.

The development of large single products has advanced rapidly, and many major vaccines have been intensively declared

Sorting through the R&D milestone announcements for the Le Méridien vaccine since this year, it is easy to see that many possible “exploits” in its R&D pipeline are ready to be released.

In the pneumonia series, according to previous announcements, the 13-valent pneumonia-conjugate vaccine and the 23-valent pneumonia-polysaccharide vaccine are scheduled to be declared for marketing this year. Furthermore, the product layout for the iterative upgrade of the pneumonia vaccine was completed this year, and the 20-valent pneumococcal conjugate vaccine has been submitted for pre-clinical trials; the 24-valent pneumonia conjugate vaccine, which was first developed simultaneously in the world, has completed pre-clinical research work.

The pneumonia vaccine has been the global vaccine sales champion for 10 years, and the demand gap is huge. According to estimates, the global 13-valent pneumonia-conjugate vaccine gap alone is 180 million doses. As the only company that simultaneously lays out 13-, 20-, and 24-valent pneumonia conjugate vaccines, Emmy Vaccines is expected to usher in explosive cash flow growth as products are launched one after another.

In addition, the tetanus vaccine currently being developed by Le Méridien has submitted a pre-application for clinical trials, and is also actively promoting the development of the adsorbed acellular tetanus tetanus vaccine. It is expected that starting in 2024, clinical trial applications for the multiple vaccine and its various components will be submitted one after another. Multiple vaccines are the development trend of the industry. CITIC Construction Investment's previous research report pointed out that the domestic multi-vaccine category competition pattern is ideal, there are barriers to R&D and production, and the long-term development trend is relatively good. Le Meridien said that the development and listing of multiple vaccines will enhance the company's core competitiveness, strengthen the company's market position, and provide another strong support for the company's continued steady development.

Huaan Securities pointed out in a report on February 19 this year that the trend of biomedicine from 2024 to now has returned to the low positions of the end of 2018 and the beginning of 2019. The policy-related disadvantages have come to an end, and large pharmaceutical products continue to come to light, showing the investment value of pharmaceutical products. Considering aspects such as valuation digestion, fund holdings, and growth, we are more optimistic about the performance of the pharmaceutical aftermarket.

As far as the market is concerned, it is worth noting that Emmy Vaccine has announced a share repurchase plan, and the controlling shareholder has increased its shareholding several times in a row. This not only shows the company's confidence in the growth and prospects of its own business, but also helps increase share value and shareholder returns.

In summary, the Le Méridien vaccine, which has always maintained a high level of R&D investment in the same industry, has reached a critical point of huge commercialization. Benefiting from the current capital market and rising expectations of a recovery in the vaccine sector, Le Méridien will continue to be the focus of market capital attention with its R&D strength, rich product pipeline, and deep accumulation in the vaccine industry.