Walvax Biotechnology Co., Ltd (SHE: 300142) has significantly reduced the price of its bivalent human papillomavirus (HPV) vaccine to a record low of RMB 27.5 per dose for domestic products, according to the Shandong Center for Disease Control and Prevention’s disclosure of the 2024 purchase transaction data for the vaccine in Shandong Province. This price cut follows Walvax Bio’s previous bid of RMB 63 per dose for the 2024 procurement program for eligible girls in Shandong.
China has approved five HPV vaccines for marketing, including Walvax Bio’s bivalent HPV vaccine, Wantai Bio’s Cecolin, GSK’s Cervarix, and MSD’s Gardasil 4 and Gardasil 9, each with varying price points. Cervarix is priced above RMB 500 per dose, while Gardasil 4 and Gardasil 9 cost at least RMB 800 and RMB 1000, respectively. Cecolin is available in the self-pay market at RMB 329 per dose and is significantly less in government procurement programs, such as the RMB 86 per dose in Jiangsu. Walvax Bio’s price reduction could potentially ignite a price competition in the market.
Data from the National Health Commission indicates a rising trend in HPV vaccine administration in China, with regions promoting and even offering free vaccinations to benefit the public health. To capture market share, manufacturers are exploring strategies like expanding age coverage and simplifying vaccination regimens. Cecolin, Cervarix, and Gardasil 9 have all received approval for a three-dose regimen for women aged 9-45 and a two-dose regimen for women aged 9-14. MSD is also planning clinical trials for Gardasil 9 as a single-dose vaccine and in the male population. Walvax Bio’s bivalent HPV vaccine is approved for a two-dose regimen for women aged 9-14 but has a narrower population coverage (women aged 9-30). Insiders suggest that Walvax Bio will continue to enhance the accessibility of its vaccine to benefit more eligible women and secure more public procurement projects. With WHO PQ certification and procurement qualifications from UNICEF and other United Nations agencies, the vaccine is poised to expand its reach globally.- Flcube.com
