需求激增疊加價格頻頻上漲，原料藥板塊再現漲停潮
4月7日，A股中的原料藥板塊再度大漲，截至收市，景峯醫藥，福安藥業，人福醫藥，衞信康，亞太藥業，聯環藥業，美諾華，新諾威，北大醫藥等十餘股漲停，昂利康，富祥股份等明顯跟漲。
圖片來源：同花順
消息面上，今日原料藥板塊受資金熱捧的主要原因源於近日隨着全球疫情的持續爆發，導致市場對相關醫藥需求激增，同時疊加印度、意大利等國的原料藥出口被限制，大量相關產品出現需求短缺及價格上漲趨勢。
上週六，美國總統特朗普在會議上再次宣傳抗瘧疾的藥物在對抗疫情上起到重要作用，並喊話印度放鬆對美國出口羥氯喹等藥物的限制。
近日，印度方面表示收到全球不止30多個國家的請求訂單需求，他們希望能通過購入羥氯喹這種藥物來控制疫情的持續蔓延。
然而在此前，印度已宣佈禁止該重要藥物和原材料的出口。包括3月3日起對26種原料藥和成品藥限制出口，產品涉及撲熱息痛、替硝唑、紅黴素、維生素B12、肝素、布洛芬等。
雖然印度是藥物出口大國，但是其原材料對外依存度非常高，且一半以上的藥物原材料（包括生產羥氯喹的原材料）都是從中國進口。
值得一提的是，中國是世界上最大的原料藥生產國，且有1500多家原料藥生產企業。據瞭解，正常年份，原料藥的產量在300萬噸左右，出口在100萬噸左右，大概出口佔整個原料藥產量的比重在1/3。其中在維生素、抗生素、解熱鎮痛類藥物、抗感染藥物、皮脂類激素藥物等方面生產、出口量大，國際市場佔比在50%以上。
在年初，受疫情影響，中國藥業生產公司因國內需求倍增，且疫情期間由於原料藥生產和運輸停滯，減少了原料藥出口，因此全球醫藥供應鏈較為緊張。
但截至目前，中國原料藥企業復工復產率和主要產品達產率已達80%以上，這不但可以有效緩解全球原料藥供需緊張矛盾，同時也對公司的業績帶來非常可觀的增長預期。
西南證券認為，全球疫情加大全球經濟一體化不確定性，但國內醫藥製劑國際化佔比低、相反海外對國內原料藥依賴程度在強化，醫藥資產的科技與消費屬性再次成為機構投資者配置首選。中期看，原料藥價格上行將是必然趨勢、原料藥在國際醫療產業鏈地位得到提升。
興業證券表示，疫情作為短期因素影響原料藥的供需格局，特色原料藥中長期的轉型升級邏輯（製劑一體化、CMO/CDMO 等）並不受疫情而改變，前期注重質量規範、業務拓展、產品佈局的企業有望在疫情催化下獲得更多國際市場的機會，更快實現轉型升級。
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