Nearly 40 A-share pharma firms disclose results after 12th national procurement list published

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After the proposed results of the 12th national centralized drug procurement were announced, nearly 40 A-share listed pharmaceutical companies had disclosed bid-related announcements as of the evening of August 3, with market attention continuing to heat up. This round of procurement showed clear divergence. Barefoot players like Kelun Pharmaceutical and Huahai Pharmaceutical broke through with newly approved varieties. Kelun Pharmaceutical had 14 product specifications proposed for selection, with 9 varieties having no sales revenue in 2025. Huahai Pharmaceutical had 4 proposed winning products, 3 of which were newly approved in the second quarter of 2026. Meanwhile, Huadong Medicine unexpectedly lost the bid for its core product indobufen tablets. The 4 products it failed to win had combined sales revenue of about 4.634 billion yuan in 2025, accounting for 10.62 percent of the company's total revenue, far exceeding the 2.076 billion yuan from winning products. Its market share in public hospitals faces reshaping. Companies generally view winning national procurement bids as an opportunity to quickly open the domestic sales market, but the decline in hospital share for lost varieties has raised market concerns about the short- to medium-term performance of related firms.

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