Sino Biopharmaceutical Ltd (HKG: 1177), a leading China-based biotech company, has released its financial report for the first half of 2023. The company recorded revenues of RMB 15.28 billion (USD 2 billion), marking a 0.5% increase year-on-year (YOY). Innovative drugs contributed significantly to the total revenues, generating RMB 3.86 billion (USD 528 million), up 10.9% YOY and accounting for 25.3% of total revenues. However, profits reached RMB 2.7 billion (USD 369 million), a decrease of 15.2% YOY.
Innovative Drugs and Anti-Tumor Product Performance
The anti-tumor product segment brought in RMB 4.492 billion, constituting 29.4% of total revenues but showing a 9.4% decrease YOY. The company’s key product, anlotinib, has obtained approval for five indications, including third-line non-small cell lung cancer (NSCLC), third-line small cell lung cancer (SCLC), soft tissue sarcoma, medullary thyroid carcinoma, and differentiated thyroid carcinoma. Phase III clinical trials for 12 additional indications are currently underway. Anniko (penpulimab), a programmed death-1 (PD-1) inhibitor co-developed with Akeso Biopharma (9926.HK), received marketing approval for first-line NSCLC in January, with a third-line nasopharyngeal carcinoma market filing under review.
New Drug Developments and Approvals
Efbemalenograstim alfa (F-627), an in-house developed long-acting recombinant human granulocyte colony stimulating factor (rhGCSF)-Fc fusion protein co-developed by Yifan Pharma, received approval for the prevention and treatment of severe granulocytopenia in tumor patients after chemotherapy in May. This approval adds to the company’s growing portfolio of innovative drugs and biosimilars.
Future Outlook and Pipeline Expectations
Sino Biopharmaceutical expects to obtain marketing approvals for 7 innovative drugs and 9 biosimilars or generics from 2023 to 2025, indicating a strong pipeline and commitment to driving growth through innovation in the pharmaceutical sector.-Fineline Info & Tech
