“医谷”

近日，白云山发布2023年年报，报告显示，2023年公司营收为755.15亿元，同比增长6.68%；归母净利润为40.56亿元，同比增长2.25%。其中，国产“伟哥”枸橼酸西地那非片（商品名：金戈）成为大单品，销售额达12.895亿元，同比增长23%。

白云山的“摇钱树”

上市后，金戈的销量持续上涨，据广药白云山发布的资料显示，2014年至2020年，金戈的销量分别为2.92万片、1495万片、2498万片、3963万片、4773.99万片、6275.29万片、7834.52万片。2021年，白云山财报数据显示，金戈全年销售量为9849万片，实现营收9.88亿，同比增长18.73%，总营收位居白云山所有产品之首，同时金戈的毛利率高达88.6%，接近于茅台。根据华西证券数据，金戈在2021年我国西地那非市场中占据了48.56%的份额，与辉瑞合计市场份额达到92.9%。在2021年的ED类药物销售中，金戈为榜首，且据2021年中国网上药店终端化学药TOP20产品排名，网上购买销量最大的药物也是金戈。

不过在2022年，该药突然出现销量下滑。白云山2022年财报显示，金戈营收10.52亿元，成为白云山首个“十亿品种”，同比增长6.43%，但销量却同比下滑11.85%，2022年金戈总共卖出8682.91万片，比2021年少了1166.91万片，这也是金戈上市近10年来销售量首次下滑。白云山在年报中称，生产量大幅下降超30%主要是因为2021年的产品库存量比较大，下属生产企业“因应本年度销售情况”在控制产量；销量下滑原因，则没有具体透露。

而此次，金戈销量重新上涨。

白云山财报显示，金戈2023年销售量达到1.01亿片，对比2022年多卖出约1434.4万片，同比增长16.5%，销售额12.895亿元，同比增长23%。根据米内网今年2月底发布的《中国城市实体药店中端竞争格局》蓝皮书显示，白云山“金戈”以近13亿元销售额进入中国城市实体药店化学药市场TOP10，并成为生殖泌尿系统药物中的TOP1。

竞争激烈

不过，虽然此次金戈销量重新上涨，但其面临的竞争压力也在增加。

目前推荐用于ED的口服PDE5抑制剂主要包括西地那非、他达拉非、伐地那非、阿伐那非，而在国内，每个对应的品种均有国内企业在进行仿制。

西地拉非方面，已有白云山、江苏亚邦制药、常山药业、齐鲁制药、朗圣药业、吉林金恒制药、成都地奥制药、海王生物、华润赛科药业、福建广生堂等多家国内企业的西地那非获批上市。

他达拉非方面，除了原研礼来，罗欣药业、恒瑞

医药

、朗圣药业、东阳光药业、人福药业、正大天晴、齐鲁制药、华邦制药、杰士邦等多家企业的仿制产品上市。

伐地那非则有科伦药业仿制产品获批，海思科和新天药业的阿伐那非仿制产品也已在国内获批。截至去年4月，已获批上市用于治疗ED的国产PDE5抑制剂超过50款。

文 | 医谷

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rgba(255, 255, 255, .1);--weui-RED: #fa5151;--weui-ORANGERED: #ff6146;--weui-ORANGE: #c87d2f;--weui-YELLOW: #cc9c00;--weui-GREEN: #74a800;--weui-LIGHTGREEN: #3eb575;--weui-BRAND: #07c160;--weui-BLUE: #10aeff;--weui-INDIGO: #1196ff;--weui-PURPLE: #8183ff;--weui-WHITE: rgba(255, 255, 255, .8);--weui-LINK: #7d90a9;--weui-TEXTGREEN: #259c5c;--weui-FG: #fff;--weui-BG: #000;--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-TEXT-ORANGE: rgba(250, 157, 59, .6);--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-TEXT-GREEN: rgba(6, 174, 86, .6);--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-BLUE: rgba(16, 174, 255, .6);--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-BLACK: rgba(255, 255, 255, .5);--weui-TAG-BACKGROUND-BLACK: rgba(255, 255, 255, .05)}}@media screen and (min-width:1024px) and (prefers-color-scheme:dark){body:not(.pages_skin_pc) 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#06ae56;--weui-FG: #000;--weui-BG: #fff;--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-TEXT-ORANGE: #fa9d3b;--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-TEXT-GREEN: #06ae56;--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-BLUE: #10aeff;--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-BLACK: rgba(0, 0, 0, .5);--weui-TAG-BACKGROUND-BLACK: rgba(0, 0, 0, .05)}body,.wx-root{--weui-BG-0: #ededed;--weui-BG-1: #f7f7f7;--weui-BG-2: #fff;--weui-BG-3: #f7f7f7;--weui-BG-4: #4c4c4c;--weui-BG-5: #fff;--weui-FG-0: rgba(0, 0, 0, .9);--weui-FG-HALF: rgba(0, 0, 0, .9);--weui-FG-1: rgba(0, 0, 0, .55);--weui-FG-2: rgba(0, 0, 0, .3);--weui-FG-3: rgba(0, 0, 0, .1);--weui-FG-4: rgba(0, 0, 0, .15);--weui-FG-5: rgba(0, 0, 0, .05);--weui-RED: #fa5151;--weui-ORANGERED: #ff6146;--weui-ORANGE: #fa9d3b;--weui-YELLOW: #ffc300;--weui-GREEN: #91d300;--weui-LIGHTGREEN: #95ec69;--weui-BRAND: #07c160;--weui-BLUE: #10aeff;--weui-INDIGO: #1485ee;--weui-PURPLE: #6467f0;--weui-WHITE: #fff;--weui-LINK: #576b95;--weui-TEXTGREEN: #06ae56;--weui-FG: #000;--weui-BG: #fff;--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-TEXT-ORANGE: #fa9d3b;--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-TEXT-GREEN: #06ae56;--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-BLUE: #10aeff;--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-BLACK: rgba(0, 0, 0, .5);--weui-TAG-BACKGROUND-BLACK: rgba(0, 0, 0, .05)}.wx-root,body{--weui-BTN-ACTIVE-MASK: rgba(0, 0, 0, .1)}.wx-root,body{--weui-BTN-DEFAULT-ACTIVE-BG: #e6e6e6}.wx-root,body{--weui-DIALOG-LINE-COLOR: rgba(0, 0, 0, .1)}.wx-root,body{--weui-BG-COLOR-ACTIVE: #ececec}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--weui-BTN-ACTIVE-MASK: rgba(255, 255, 255, .1)}}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--weui-BTN-DEFAULT-ACTIVE-BG: rgba(255, 255, 255, .126)}}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--weui-DIALOG-LINE-COLOR: rgba(255, 255, 255, .1)}}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--APPMSGCARD-BG: #1E1E1E}}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--APPMSGCARD-LINE-BG: rgba(255, 255, 255, .07)}}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--weui-BG-COLOR-ACTIVE: #373737}}@media(prefers-color-scheme:dark){.wx-root:not([data-weui-theme=light]),body:not([data-weui-theme=light]){--weui-BG-6: rgba(255, 255, 255, .1);--weui-ACTIVE-MASK: rgba(255, 255, 255, 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