Medicine & Health

 1. Introduction to the Project

1.1 Project Background

1.1.1 Product Introduction

The rabies vaccine has a long history, and the earliest rabies vaccine was produced by Pasteur of France. In 1882, it successfully applied serial passage attenuated virus virulence, used suitable virus seed to produce vaccine. The rabies vaccine manufactured in China uses rabies virus to inoculate in primary hamster kidney cells; after culturing, venom is collected. After concentration, purification, refining and add aluminum hydroxide as adjuvant, after being accredited to be qualified, it is rabies vaccine that can prevent rabies. This project is a rabies vaccine production and construction project. The prevention and treatment type biological and biochemical series of products, mainly man-used rabies vaccine, BCG RNA, is one of the key development projects of Yatai Group. Rabies vaccine production is based on the production technique, with national, provincial, municipal support for the industrial development. This product uses advanced technology and equipment, and designs according to the new GMP requirements. The surroundings of the project construction site have complete infrastructure, convenient transport, and resources needed for production.

1.1.2 Market Prospects

Rabies is prevalent in most of the countries and regions in the world as one of the oldest diseases that endanger human health. According to statistics, every year at least 4,000 people die of rabies attack. Rabies vaccine, as the only effective way to fight against rabies, has made ​​outstanding contributions to human health.

According to "Rabies prevention and control situation" of the Ministry of Health, rabies cases in China in 2008 reached 24.66 million cases, and in recent years, it has maintained at an annual average of over 24 million people, second only to India, ranking the second in the world. In recent years, China's dog, cat feeding amount rapid increases, and the number of people being hurt by dogs, cat is increasing. According to the used amount of the rabies vaccine by Chinese people, the number of people hurt by the animals is estimated to be 40 million people. It is obvious that there is huge demand for rabies vaccine in China.

The rabies vaccine is type two vaccines, vaccination at people’s own expense. But because domestic dogs feeding amount is increasing year by year, the rabies vaccine faces increasing demand. Guangdong, for example, has a high incidence of rabies trend in recent years; in the province last year, the disease caused by rabies was up to 324 people, and it has become "number two" statutory infectious disease, second only to AIDS, leading to high demand for rabies vaccine. In 2015, the issued amount of domestic rabies vaccine was 19.47 million people, a year-on-year increase of 35%; due to higher national standards, the number of production enterprise becomes small. In 2009, the issued amount of rabies vaccine was 11.73 million people, a year-on-year decrease of 39.7%. Rabies vaccine market in China in 2013-2015 was 76.5 million pieces, 96 million pieces and 115 million pieces, respectively, an increase of 25.5%, 19.8% respectively. The revenues on the 2013-2015 rabies vaccine market were $ 2.142 billion yuan, 2.592 billion yuan, 2.99 billion yuan, respectively, year-on-year growth of 21.0%, 15.4%. It can be seen that the growth rate is decreasing. Last year, the major rabies vaccine production enterprises Jiangsu Yanshen and Hebei Fuer stopped production due to quality problem, the state implemented more stringent production process standards, and national regulatory efforts are increased, and access threshold is enhanced. Yatai pharmaceutical industry started in 1999; it is key and new pillar industry cultivated by Yatai Group. At present, it owns a biological drug R & D center, biological pharmaceutical, traditional Chinese medicine anti-cancer drug, and OTC medicines and proprietary Chinese medicines three production bases (Jilin Yatai Biological Pharmaceutical Co., Ltd., Jilin Yatai Pharmaceutical Co., Ltd., Jilin Yatai Star Pharmaceutical Co., Ltd.), and a pharmaceutical retail chain enterprises (Jilin Pharmacy Pharmaceutical Co., Ltd.). A complete industrial chain with R & D, production, sales has been formed. Prevention and treatment type biological and biochemical series of products, mainly man-used rabies vaccine, BCG RNA, is one of the key development projects of Yatai Group. It has broad market prospect.

1.1.3 Technical Analysis

The technologies used by the project are the self-owned technology of research institutions in the park, with independent intellectual property rights, without technical risk. This project adopts advanced technology and equipment, designs according to the new GMP requirements, and fully meets the country's strict production process standards.

1.1.4 Advantageous Conditions of Project Construction

(1) Policy conditions

Since Changchun New Area was founded, a series of policies such as Policies on Promoting the Development of the Strategic Emerging Industries, Policies on Promoting the Innovative Development of Science and Technology, Policies on Accelerating the Assembly of the High-level Personnel and Policies on Supporting the Innovative Development of Changchun New Area, etc..

(2) Related technical advantage

The construction site of the project, located in Changchun New and High-tech Development Zone, under Changchun New Area, has the obvious location and transport advantages. Changchun New Area is located in the core hinterland of Changchun-Jilin-Tumen Development and Opening Pilot Zone and geographical center of Northeast China and the important node of Harbin-Dalian Economic Belt and China-Mongolia-Russia Economic Corridor. In the district, Longjia International Airport is the national trunkline airport, some expressways such as Jingha Expressway and Hunwu Expressway, etc. meet here, some trunkline railways such as Jingha Railway and Hada Railway penetrate the whole district, Changchun-Manchuria-Europe International Freight Train has been opened and the sea, land and air 3D transport network has been preliminarily established, so it is convenient to have communication of personnel and goods with other regions of Northeast China, Beijing, Tianjin and Hebei and the surrounding countries of Northeast Asia. The new district, depending on the construction of Longjia International Airport and comprehensive railway freight yard, is building the international airport and international inland port, the “three major channels” to the west, north and south and incorporate to the major pattern of economic development in the world.

(3) Industrial development advantages

Changchun New Area, focusing on the building of the innovative industrial system with the advanced manufacturing industry, modern agriculture and modern service industry as the important points, insists in the coordinated and interlinking development of the four major development zones and preliminarily establishes the industrial development pattern with the prominent important points and distinctive characteristics: in the airport development zone, the emphasis is put on the development of the logistic industry, finance, leisure tourism and health endowment and other modern service industry as well as airport advanced manufacturing industry and it will be built into the pilot zone of airport economy and opening to the outside in Northeast China. In Beihu Development Zone, the emphasis is put on the development of the high-end equipment, photoelectric intelligent, biological medicine, fine food, new materials and energy industries to promote the construction of the international inland port of Northeast Asia, build the international inland port oriented to Northeast Asia and build itself into the strategic emerging industry pilot zone. In Changde Development Zone, the emphasis is put on the development of the health industry, fine food industry, strategic emerging industry and engineering mechanical industry, etc. to build the new urban area suitable to live in and open businesses; in the New and High-tech Zone, the emphasis is put on the development of the new and high-tech industry and high-end service industry to build the functional assembly zone of the new and high-tech industry and high-end service industry. The industrial pattern and development of Changchun New Area will provide the good industrial support for the project.

(4) Personnel and innovative resource advantages

In Changchun New Area are assembled a lot of colleges, universities and scientific research institutions such as Jilin University, Northeast Normal University, Changchun Institute of Optics, Fine Mechanics and Physics of Chinese Academy of Sciences and Changchun Institute of Applied Chemistry of Chinese Academy of Sciences, etc.; in the district, there are 3 national-level engineering labs, 2 national engineering technological research centers, 11 national-level key labs and 50 key labs above the provincial and ministerial levels. The district has 34 national-level innovative parks and bases such as National Patent Navigation Industry Development Experimental Park and National Innovative Personnel Cultivation Demonstration Base; in the district is assembled Changchun Northeast Scientific and Technological Innovation Center built by “1 academy, 4 institutes and 4 universities” including Changchun Branch of Chinese Academy of Sciences and Jilin University, etc., the special technological platforms of photo-electrics, new materials, new energy, biological medicine and ecological agriculture, etc. and public service platforms of governmental affairs, information, finance and personnel, etc. are built.

1.2 Content and Scale of Project Construction

1.2.1 Product Scheme and Scale

This product uses advanced technology and equipment, is designed according to the new GMP requirements. The surroundings of construction site have complete infrastructure facilities, convenient transportation, and relatively complete resource conditions for production. The estimated annual output of rabies vaccine will be 4 million pieces.

1.2.2 Construction Content

(1) The factory covers an area of 80,000 square meters and a construction area of 50,000 square meters.
(2) Equipments used for making rabies vaccine, such as Chromatography column, autoclavable cabinet, dry heat sterilizer, washing, drying and filling linkage line, capping machine, bottle spinning machine, lyophilizer, liquid mixing tank, ultrafilter and extract tank etc.

1.3 Total Investment and Funds Raising of the Project

Total investment of the project is 1.2 billion yuan, including construction investment of 0.7 billion yuan, interest incurred in construction period of 65 million yuan, and working capital of 435 million yuan.

Table 1         List of Total Investments of Project           Unit: 10,000 yuan

No.

Name of expense

Investment amount

Percentage to total investments %

Remarks

1

Construction investment

70000

58

 

2

Interest incurred in construction period

6500

5

Capitalized interest

3

Working capital

43500

37

 

 

Total investments of project1+2+3

120000

100.00

 

Note: the “10,000 yuan” in the table is RMB.

1.4 Financial Analysis and Social Evaluation

1.4.1 Major Financial Indexes 

In normal year of this project, it will realize operating income of 2 billion yuan, profit of 250 million yuan, financial internal rate of return of total investment of 25%, payback period (after tax) of all investment of 8.28 years, and profit rate of investment of 21%.

Table 2         List of Major Indexes for Financial Benefits Forecast  

No.

Name

Unit

Index

Remarks

1

Operating income

10,000 yuan/a

200000

Normal year

2

Total profits

10,000 yuan/a

25000

Normal year

3

Financial internal rate of return of all investment

%

25

After tax

4

Financial net present valueIc=10%

10,000 yuan

530400

After taxoperation period is 10 years

5

Payback period of total investments(after tax)

a

6.28

Including construction period of 2 years

6

Profit rate of investment

%

21

 

Note: the “10,000 yuan” in the table is RMB.

1.4.2 Social Evaluation

Rabies is an acute infectious disease caused by the rabies virus, also known as hydrophobia, mad dog disease. The rabies virus is mainly spread among animals, and people will be infected. According to statistics, every year, at least 4,000 people die of rabies attack. Rabies vaccine, as the only effective way to fight against rabies, has made ​​outstanding contributions to human health. Rabies cases in China in 2008 reached 24.66 million cases, and in recent years, it has maintained at an annual average of 24 million people, second only to India, ranking the second in the world. In recent years, China's dog, cat feeding amount rapid increases, and the number of people being hurt by dogs, cat is increasing. According to the used amount of the rabies vaccine by Chinese people, the number of people hurt by the animals is estimated to be 40 million people. The implementation of this project not only has good economic returns, but also makes a great contribution to human health, and has great social benefits. In addition, due to huge investment of the project, the implementation of the project will bring a lot of opportunities for the local place, and make some contribution to the stability of the region.

1.5 Cooperative Ways of the Project

Joint venture cooperation.

1.6 What to be Invested by Foreign Party

Capital, and foreign investment accounts for 49%.

1.7 Construction Site of the Project

The Changchun Northeast Core Area of Changchun High-Tech Development Zone

1.8 The On-going Condition of Project

Project cooperation plan has been compiled.

2. Introduction to Partner

2.1 Basic Conditions

Name of project undertaker: Jilin Yatai (Group) Stock Co., Ltd.

Legal address: 1801 of Jilin Avenue, Changchun City

Legal representative: Song Shanglong

Corporate ownership form: limited liability

2.2 Overview of Project Undertaker

The Yatai pharmaceutical industry started in 1999. It is a key and new pillar industry of Yatai Group. At present, it owns a biological drug R & D center, biological pharmaceutical, traditional Chinese medicine anti-cancer drug, and OTC medicines and proprietary Chinese medicines three production bases (Jilin Yatai Biological Pharmaceutical Co., Ltd., Jilin Yatai Pharmaceutical Co., Ltd., Jilin Yatai Star Pharmaceutical Co., Ltd.), and a pharmaceutical retail chain enterprises (Jilin Pharmacy Pharmaceutical Co., Ltd.). A complete industrial chain with R & D, production, sales has been formed. The pharmaceutical industry currently employs 3,200 people, and 80% of them have junior college degrees and above. A united, capable, competitive, honest professional team has been formed. Yatai Pharmaceutical Industry now has 108 drug approval numbers, forms anti-cancer series of products, mainly national class one new drug of ginsenoside Rg3 and its preparations of ginseng capsule; prevention and treatment type biological and biochemical series of products, mainly man-used rabies vaccine, BCG RNA; the cerebrovascular treatment Chinese and Western medicine products, mainly musk cardio-cerebral medicine, refreshing and recycling capsule. At the same time, it is also researching class one biological anti-cancer drug of "biological missile", second-class anti-cancer drug of ginsenoside Rg3 injections, class three new drug of hemorrhagic fever vaccine, the wakening tablet for anti-manic, copied type of four-season cold tablet, ageratum stomach cleaning capsule etc. subsequent varieties. The specified and diversified product structure of Yatai Pharmaceutical Industry has been basically established. The Jilin Pharmacy now has more than 400 chain stores and franchise stores, with distribution network covering major cities in Jilin Province; ten integrated and specialized outpatient clinics are distributed in Changchun city. In 2006, it was appraised as “Model Shop in anti-faking activity of China”. It is the only “national drug repository unit” in Jilin Province, and is appraised as “top 20 enterprises of China drugstore chains in 2009”, and won honor in “China drugstore chain ranking during 2010-2011”, with comprehensive ranking of the 14th.

2.3 Contact Method

Postal code130012

Contact person of project undertaker: Li Tiangang

Tel0431-85542548    13578712560

Fax0431-85542548

E-maillee-66666@163.com

 

Contact information of city (prefecture) of project

Contact Unit: Changchun Economic and Technical Cooperation Bureau

Contact Person: Bo Zhanlin

Tel: 0431-82763933  82765252

Fax: 0431-82763933

E-mail: cc82763933@163.com

Website of City (Prefecture): http://www.ccmbc.com/

 

 

 

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