People walk on the street amid COVID-19 outbreak in Sao Paulo, Brazil on June 8, 2021.(Photo: Xinhua)

Shares of major heparin makers surged on Tuesday, with several hitting their daily limits, due to increased export demand for the medicine in the fight against COVID-19.

Shares of Shenzhen-listed Hebei Changshan Biochemical Pharmaceutical Co, a major producer of active pharmaceutical ingredients (APIs) for heparin sodium, gained 20.06 percent while Changzhou Qianhong Bio-Pharma Co closed 10 percent higher.

Heparin, an important clinical anti-coagulant raw material, has seen increased demand overseas due to new coronavirus outbreaks.

The average export price of heparin in June hit $15,819 per kilogram, a surge of 269 percent year-on-year, China Business News reported on Tuesday, citing customs data. 

Nanjing King-Friend Biochemical Pharmaceutical sold 40 million units of heparin products globally, an increase of about 70 percent year-on-year, according to the company's interim report released on Tuesday.

As one of the most important suppliers of high-quality heparin APIs worldwide, the company has a market share of nearly 30 percent in the US and also covers other main markets, including Brazil, Ecuador, the UK and other European markets.

Heparin is mainly extracted from the small intestinal mucosa of healthy pigs. As the world's largest hog breeding and slaughtering country, China is the world's largest exporter of heparin APIs and supplier of raw materials, accounting for about 50 percent of global demand, according to media reports.

According to AVIC Securities, new rounds of COVID-19 outbreaks worldwide are expected to drive the long-term development of the heparin market.

Guohai Securities said that the price of heparin has been on the rise since 2016, mainly because China, as the main supplier of hogs in the world, has had a much smaller herd of pigs due to African swine fever.

The brokerage predicted the slower-than expected recovery of hog production will bring a new round of investment opportunities for heparin.

Global Times