Vaccine: traditional and emerging agents of biological immune
At 14:22 on May 25, 2009

Vaccine - has a role in the prevention and treatment of immune agents. Vaccine is to pathogenic microorganisms (such as bacteria, rickettsia, viruses, etc.) and its metabolites, after artificial attenuated, inactivated, or the use of genetic engineering methods such as made for the prevention of auto-immune agents of infectious diseases. 20th century 90's known as the "decade of new vaccines," especially in recent years as molecular biology, immunology and other disciplines, the development of the field of medical research in a number of new vaccines are emerging. Not only for the current vaccine for the prevention of infectious diseases, but also as a new treatment for various diseases such as hepatitis B, cancer, AIDS, Alzheimer's disease, herpes, multiple sclerosis and so on.

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Ten industry leaders will lead the A shares new breakthroughs in the social security fund shares the first 84 hunters earn two billion social security fund and QFII Pupil play of words between the country life executives argue the three major shareholders of Guizhou Maotai the focus of the first day of the lifting of the ban today a net inflow of funds Unit size of non-lifting of the ban list (5.26) the global market - the main preventive vaccines, therapeutic vaccines the future growth of the larger space. Corporate data, according to Kalorama Information, since 1980 more than 20 years, the global vaccine market is growing at 10 times growth in drug sales over the same period, only 5 times, we can see that the global vaccine market is much larger than drug market growth. The global vaccine market in 2007 market capacity has more than 10 billion U.S. dollars, which accounted for preventive vaccines as much as 95%, and the therapeutic vaccine, less than five hundred million U.S. dollars, industrial development is still in the initial stage where the therapeutic vaccine is currently the world's major listing of species based cancer vaccine, cancer vaccine market in 2005 to 15.9 million U.S. dollars sales in 2006 exceeded 100 million U.S. dollars, in 2007 480 million U.S. dollars, with an average annual growth rate of more than 14 times expected 2012, the U.S. FDA may through 8-10 of the new vaccine (heavy bomber), which will enable the total sales of the cancer vaccine more than 8 billion U.S. dollars, the next 5-year average annual growth rate of close to 300%.

China's market - monopoly of Health plans to market the vaccine, treatment of hepatitis B vaccine looks forward to a breakthrough. China can produce 26 kinds of viruses and the prevention of 41 kinds of vaccines, annual dose of more than one billion units. Plan in 2008 to estimate the size of the vaccine market in the 15-20 billion yuan, a virtual monopoly in the Group Health Plan as a whole vaccine market, and its subsidiaries produced by the six vaccines account for planned vaccine more than 90% of the market in recent years, a small number of biological products of private enterprises and foreign enterprises to actively participate in the tender vaccine program, but a smaller share. New vaccines in our country in the new infectious diseases such as SARS, HIV and treatment of hepatitis B vaccine basic research and the international level, but in cancer vaccines, subunit vaccines, as well as the development of conjugate vaccine at a relatively backward position. Treatment of hepatitis B vaccine in which there are many listed companies in carrying out development work, such as the Chongqing Brewery (600,132, stock it), the Temple of Heaven organisms (600,161, stock it) and Guangzhou Pharmaceutical (600,332, stock it); In addition, the national drug supervisor approved by the Board in 2004, China has independently developed an AIDS vaccine, and Phase Ⅱ clinical study began in March 21, 2009 in Nanning, Guangxi, announced the official start, which involves high Changchun (000661, stock it) 100 grams of a subsidiary in Changchun Pharmaceutical limited liability company. In addition, Yueyang Hing Cheung (000,819, stock it) subsidiary Chongqing Kang Wei in April 23, 2009 successfully developed the world's first vaccine stomach and through Phase III clinical trials, indicates that China's current focus on new vaccines have been breakthroughs, and therapeutic AIDS vaccine and Hepatitis B vaccine has been steadily going on. We are optimistic about the next few years, prospects for the development of new vaccines.

(Details are set out in Annex)

(Source: Japan Securities R & D Center)