Innovent Biologics Inc., (HKG: 1801), a leading biopharmaceutical company based in China, has announced its product sales for Q3 2023, which exceeded RMB 1.6 billion (USD 219 million), marking a 45% increase year-on-year (YOY). The company’s PD-1 inhibitor, Tyvyt (sintilimab injection), continued to show strong market performance, and there was a notable increase in the uptake of Innovent’s other products during the quarter.
Performance of Tyvyt and Other Products
Tyvyt, a PD-1 inhibitor, maintained its robust market performance, contributing significantly to the company’s sales growth. This growth was complemented by the increased adoption of Innovent’s other product offerings.
Approval and Market Introduction of Tafolecimab (IBI306)
In August 2023, Innovent received marketing approval for Tafolecimab (IBI306), a recombinant fully human anti-PCSK-9 monoclonal antibody (mAb) targeting the cardiovascular and metabolic (CVM) field. This marks the company’s second innovative drug to be introduced to the market, further diversifying its product portfolio.
Biosimilar Portfolio Expansion
In addition to its innovative drugs, Innovent continues to market biosimilar versions of adalimumab, bevacizumab, and rituximab, expanding its reach in the biosimilars segment.
Pipeline and Clinical Developments
Innovent Biologics boasts a robust product pipeline of over 30 drugs, spanning oncology, metabolic diseases, autoimmune diseases, ophthalmology, and other therapeutic areas. The company has made significant strides in clinical development, with 7 new molecules advancing into Phase III or pivotal studies, and an additional 20 molecules in various clinical stages.-Fineline Info & Tech
