2013年(nian)1-5月(yue)(yue)份，中成藥子行(xing)業的銷售收(shou)(shou)入(ru)同(tong)比(bi)增(zeng)(zeng)(zeng)(zeng)長(chang)25.55%，利(li)潤總額同(tong)比(bi)增(zeng)(zeng)(zeng)(zeng)長(chang)22.79%，其(qi)中5月(yue)(yue)單月(yue)(yue)收(shou)(shou)入(ru)增(zeng)(zeng)(zeng)(zeng)長(chang)27.5%，利(li)潤增(zeng)(zeng)(zeng)(zeng)長(chang)15.8%，單月(yue)(yue)利(li)潤增(zeng)(zeng)(zeng)(zeng)長(chang)較(jiao)4月(yue)(yue)份明顯回升，利(li)潤增(zeng)(zeng)(zeng)(zeng)速仍慢于(yu)收(shou)(shou)入(ru)增(zeng)(zeng)(zeng)(zeng)速主要是(shi)由(you)于(yu)子行(xing)業期(qi)間費用(yong)依然增(zeng)(zeng)(zeng)(zeng)長(chang)較(jiao)快(kuai)所(suo)(suo)致，此外單月(yue)(yue)的毛利(li)率下滑也對(dui)利(li)潤增(zeng)(zeng)(zeng)(zeng)速有(you)所(suo)(suo)拖累，我們預計(ji)這可能和相關(guan)費用(yong)不對(dui)稱時點支出有(you)關(guan)，預計(ji)后(hou)續月(yue)(yue)度可能會(hui)有(you)所(suo)(suo)修正。TRZ中國行(xing)業咨詢網(wang)_行(xing)業報告_行(xing)業分析_市場調(diao)研_第三(san)方市場數據提供商

TRZ中國行業咨詢網_行業報告_行業分析_市場調研_第三方市場數據提供商
    對于(yu)中(zhong)(zhong)(zhong)(zhong)成藥(yao)(yao)(yao)子行(xing)業(ye)(ye)的(de)全(quan)年(nian)(nian)走勢(shi)，我們認為由于(yu)2011年(nian)(nian)下半年(nian)(nian)中(zhong)(zhong)(zhong)(zhong)成藥(yao)(yao)(yao)子行(xing)業(ye)(ye)利(li)潤(run)基(ji)(ji)數(shu)非常高，導致2012年(nian)(nian)下半年(nian)(nian)增速有所放緩，預(yu)(yu)計(ji)2013年(nian)(nian)中(zhong)(zhong)(zhong)(zhong)成藥(yao)(yao)(yao)子行(xing)業(ye)(ye)利(li)潤(run)增長有望呈現逐季度加速的(de)趨勢(shi)；在(zai)(zai)行(xing)業(ye)(ye)政策(ce)方面(mian)，新(xin)(xin)版基(ji)(ji)藥(yao)(yao)(yao)目(mu)錄(lu)又新(xin)(xin)增102個中(zhong)(zhong)(zhong)(zhong)藥(yao)(yao)(yao)品(pin)種(zhong)，而且不(bu)乏獨家品(pin)種(zhong)，由已公布省份(fen)的(de)基(ji)(ji)藥(yao)(yao)(yao)增補目(mu)錄(lu)來(lai)看，預(yu)(yu)計(ji)中(zhong)(zhong)(zhong)(zhong)藥(yao)(yao)(yao)依(yi)然是其他各省基(ji)(ji)藥(yao)(yao)(yao)增補的(de)重(zhong)點，新(xin)(xin)版基(ji)(ji)藥(yao)(yao)(yao)總體(ti)有利(li)于(yu)中(zhong)(zhong)(zhong)(zhong)成藥(yao)(yao)(yao)在(zai)(zai)基(ji)(ji)層市(shi)場的(de)進一步放量，雖(sui)然行(xing)業(ye)(ye)存在(zai)(zai)預(yu)(yu)期(qi)中(zhong)(zhong)(zhong)(zhong)的(de)行(xing)政降(jiang)(jiang)(jiang)價等(deng)負面(mian)因素，但由于(yu)中(zhong)(zhong)(zhong)(zhong)藥(yao)(yao)(yao)大品(pin)種(zhong)多為獨家品(pin)種(zhong)或生產企業(ye)(ye)少，市(shi)場競爭(zheng)較(jiao)好(hao)的(de)優勢(shi)品(pin)種(zhong)，預(yu)(yu)計(ji)在(zai)(zai)招(zhao)標和(he)行(xing)政降(jiang)(jiang)(jiang)價中(zhong)(zhong)(zhong)(zhong)的(de)議價能力依(yi)然會較(jiao)好(hao)，降(jiang)(jiang)(jiang)價對行(xing)業(ye)(ye)整體(ti)影(ying)響有限，而大部分(fen)中(zhong)(zhong)(zhong)(zhong)藥(yao)(yao)(yao)材價格逐步走穩也為行(xing)業(ye)(ye)維(wei)持穩定的(de)利(li)潤(run)率水平奠定了(le)基(ji)(ji)礎，預(yu)(yu)計(ji)中(zhong)(zhong)(zhong)(zhong)成藥(yao)(yao)(yao)子行(xing)業(ye)(ye)收入利(li)潤(run)增長全(quan)年(nian)(nian)有望維(wei)持較(jiao)高水平。TRZ中(zhong)(zhong)(zhong)(zhong)國行(xing)業(ye)(ye)咨(zi)詢網_行(xing)業(ye)(ye)報告_行(xing)業(ye)(ye)分(fen)析_市(shi)場調(diao)研_第三方市(shi)場數(shu)據提供商(shang)