China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512; CGP) has released its financial report for the first half of 2023, highlighting strong revenue growth and significant advancements in its clinical pipeline. The company recorded revenues of HKD 5.989 billion (USD 766 million) and net profits of HKD 1.124 billion (USD 144 million), marking a year-on-year (YOY) growth of 14.9% and 3.1%, respectively.
Product Approvals and Clinical Progress
During the period, CGP obtained marketing approvals for 17 products and advanced 19 clinical trial programs. Notably, Enerzair (indacaterol, glycopyrronium bromide, mometasone) and Atectura (indacaterol, mometasone), compound preparations for asthma treatment, were included in the National Reimbursement Drug List (NRDL). Additionally, CGP secured first-mover generic approvals for eplerenone and balanced salt intraocular lavage in China.
Nuclear Medicine and Global Expansion
In the nuclear medicine sector, TLX250-CDx, a clinical study for the diagnosis of renal clear cell carcinoma has been launched in China as a phase I clinical trial. Meanwhile, TLX101 is used for the treatment of gliomas, and ITM-11 is used for the treatment of gastrointestinal, pancreatic, neuroendocrine tumors, both of which have been approved for phase I clinical trials. In addition, CGP acquired 87.5% of the shares of BlackSwa, a US company, in April for a transaction amount of $37.5 million, obtaining global rights to two new liquid embolic agents, one of which has been listed in the US and the other is under market review in the US.
Cardiovascular and Cerebrovascular Disease Precision Treatments
In the realm of cardiovascular and cerebrovascular disease precision treatment, the intraluminal diagnostic imaging system Novasight received marketing approval in May. Neurointervention products, including the remote pathway catheter and micro catheter, were also approved for marketing in China. The HeartLight X3 laser ablation platform for cardiac electrophysiology is awaiting regulatory decisions.
Respiratory and Severe Infection Therapies
STC3141 achieved clinical endpoints in a Phase Ib study for sepsis and received clearance for a Phase II study. Another sepsis therapy, APAD, was approved for a Phase I study in China. Meanwhile, Ryaltris compound nasal spray completed patient enrollment in its Phase III study, with an NDA filing expected later this year.
Ophthalmology Developments
In the ophthalmology sector, BRM421, GPN00833, and CBT-001 were cleared for Phase II, Phase III, and Phase III clinical trials in China, respectively. These treatments are indicated for dry eye, postoperative inflammation, and pterygium.-Fineline Info & Tech
