The news that the purchase price of Watson Bio's bivalent HPV vaccine has dropped to 27.5 yuan per vial shocked the industry, dropping from the initial 300 yuan to several tens of yuan. Some media reported that it has been reduced to the cost of a cup of milk tea. After the expansion of age, the second dose of Merck's nine valent HPV vaccine has been approved for women aged 9-14 years old. Compared to the 3-dose vaccination, the 2-dose vaccination fee is discounted. In the eyes of vaccine industry insiders, consumers with the ability to pay tend to choose high priced HPV vaccines, which is also the reason why the prices of domestically produced bivalent HPV vaccines continue to decline. In terms of the nine valent HPV vaccine, domestic manufacturers such as Watson Biosciences, Wantai Biosciences, and Kangle Defender have all made layouts. If the domestically produced nine valent HPV vaccine is approved in the future, the bivalent HPV vaccine may exit the market, but this still depends on the manufacturer's production capacity and the price of the vaccine. According to the latest transaction announcement of the Shandong Provincial Center for Disease Control and Prevention's purchase of bivalent human papillomavirus (HPV) vaccine for eligible girls in 2024, the price of Watson Bio's bivalent HPV vaccine has dropped to 27.5 yuan per dose, once again setting a new record for the lowest price of domestically produced bivalent HPV vaccine. In May of this year, Watson Biotech won the bid for the 2024 Hainan Province HPV vaccine procurement project for eligible female students, with a winning unit price of 63 yuan per vaccine. Regarding the reduction of the purchase price to 27.5 yuan per unit, relevant personnel from the Watson Biotechnology Secretary's Office told Beijing Business Daily reporters that the company's bivalent HPV vaccine products have clearly focused on key procurement projects for the benefit of the people since their launch, continuously improving product accessibility and striving to benefit more eligible women; The winning bid price for this project is determined based on the overall quantity and relevant conditions of the local government's procurement for public welfare projects. In the future, the company will continue to promote high-quality bivalent HPV vaccine products to cover more public welfare procurement projects. Watson Biosciences' bivalent HPV vaccine is the second domestically produced HPV vaccine, and Wantai Biosciences' Xinkening is the first domestically produced HPV vaccine. At present, China has approved 5 HPV vaccines, in addition to the two mentioned above, there are also Merck's quadrivalent and nonavalent HPV vaccines, as well as GlaxoSmithKline's bivalent HPV vaccine. The "price" of HPV vaccine represents the specific types of viruses covered by the vaccine, and the higher the price, the more subtypes of HPV virus can be prevented and covered. Experts have stated at a press conference of the National Health Commission that the most common high-risk types of HPV that cause cervical cancer are subtypes 16 and 18. Therefore, bivalent HPV vaccines can prevent about 70% of cervical cancer. In addition, the HPV vaccine has the best protective effect on adolescent women who have not yet been infected with the HPV virus. The World Health Organization states that girls aged 9-14 are the primary population for HPV vaccination, and the earlier they get vaccinated, the better the results. The market share has been squeezed. Regarding the price reduction of Watson Bio's bivalent HPV vaccine, some vaccine industry insiders revealed that after simplifying the number of doses for the nine valent HPV vaccine, the price of two doses is more favorable than three doses. Consumers with payment ability will choose the higher priced HPV vaccine, which has had a certain impact on domestic bivalent HPV vaccines. The Merck 9-valent HPV vaccine was first approved for use in women aged 16-26 in China, with 3 doses administered. In August 2022, the indications for this vaccine will be extended to women aged 9-45. In January of this year, Merck announced that its 9-valent HPV vaccine second dose vaccination program was approved for women aged 9-14. According to data from multiple community hospitals in Beijing, the Merck 9-valent HPV vaccine costs 1323 yuan per dose (including a service fee of 25 yuan for the second type of vaccine), and the price for two doses for women aged 9-14 is 2626 yuan. The impact of the extended age and simplified dosage of imported nine valent HPV vaccines on the industry is reflected in the financial reports of the domestic HPV vaccine "Twin Heroes". In 2023, due to the decline in the number of newborns in China and intensified market competition, the sales of the company's 13 valent pneumonia conjugate vaccine and bivalent HPV vaccine did not meet expectations. Watson Biotech's revenue, net profit attributable to parents, and net profit after deducting non essential expenses decreased by 19.12%, 42.44%, and 33.95% year-on-year, respectively. At the same time, due to factors such as the aging of the nine valent HPV vaccine and market competition, the sales of Wantai Biotechnology's bivalent HPV vaccine fell short of expectations, resulting in a significant decline in vaccine revenue and profit in 2023. Among them, the revenue of the bivalent cervical cancer vaccine decreased by about 4.2 billion yuan compared to the same period last year. Regarding the future pattern of the bivalent HPV vaccine market, a reporter from Beijing Business Daily contacted the relevant person in charge of Wantai Biotechnology, but as of press time, there has been no response. Will bivalent HPV vaccines exit the historical stage under the attack of imported nine valent HPV vaccines in the overseas market? Compared to the sluggish performance of domestic bivalent HPV vaccines, GlaxoSmithKline's revenue has increased. GlaxoSmithKline's 2023 financial report shows that the company's revenue from its bivalent HPV vaccine, Shirixis, reached £ 120 million, a year-on-year increase of 5%. Xiruishi's main markets are the European market and the international market, with a revenue of 33 million pounds in the European market and 87 million pounds in the international market, but the revenue growth in the international market has declined. According to the financial report, in 2023, GlaxoSmithKline significantly increased the supply of Sildenafil to 5 million doses through partnerships. Officials from domestic HPV vaccine companies told Beijing Business Daily reporters that the vaccination rate of HPV vaccines in China is still far from sufficient, and bivalent HPV vaccines are still necessary. Related personnel from imported HPV vaccine manufacturers also believe that market demand is still present. According to the prospectus of Kangle Defender, as of 2022, only about 29.2 million women aged 9-45 in China have received the HPV vaccine, with a relatively low cumulative vaccination rate of 9.36% among women aged 9-45. Zhao Heng, founder of Latitude Health, a medical strategy consulting company, believes that the price of domestically produced bivalent HPV vaccines is constantly decreasing. Once the domestically produced 9-valent HPV vaccine is approved, the bivalent HPV vaccine may exit the market. Previously, the vaccination rate of HPV vaccines for eligible girls in China was relatively low. However, with more and more approved manufacturers and consumers having more choices, the market is gradually oversupplied, and future competition will focus on high priced HPV vaccines. A domestic vaccine manufacturer believes that whether the bivalent HPV vaccine will exit the historical stage in the future mainly depends on whether the domestically produced 9-valent HPV vaccine can be launched, production capacity, and price. However, it is still too early to discuss this issue. Overseas markets are the direction for Watson Biotech to break through. Officials from the Secretariat of the Board of Directors stated that the company's bivalent HPV vaccine has recently passed the World Health Organization PQ certification, indicating that the vaccine has obtained procurement qualifications from UNICEF and other United Nations agencies, which is beneficial for the vaccine to gain access in more countries and regions. (New Society)