China-based Simcere Pharmaceutical Group (HKG: 2096) has released its interim financial report for 2023, revealing a robust performance in the first half of the year. The company reported revenues of RMB 3.379 billion (USD 466 million), reflecting a 25.2% year-on-year (YOY) increase. Notably, sales of innovative drugs accounted for 71% of total revenues, reaching RMB 2.413 billion (USD 332 million), which represents a 36.6% YOY growth.
Innovative Drug Portfolio and R&D Pipeline
Simcere has successfully commercialized six differentiated innovative drugs that demonstrate high clinical value, supported by a pipeline of over 60 candidates in research and development. The nervous system drug segment generated RMB 1.055 billion, contributing 31.2% of total revenues. Among these, edaravone, a therapy for acute ischemic stroke (AIS), received clinical trial approval for intracerebral hemorrhage (ICH) in April, with the first patient enrolled in a Phase II study in July. Additionally, the post-marketing TASTE II study for edaravone completed its last subject follow-up in May, and its sublingual tablets were accepted for marketing review in June.
Oncology Segment Performance
The oncology segment also showed strong results, generating RMB 783 million in sales, which accounted for 23.2% of total revenues and marked a 34.8% increase YOY. Envafolimab, a programmed death-ligand 1 (PD-L1) antibody discovered by Alphamab Oncology and capable of subcutaneous injection, has been recommended by multiple guidelines, including the Chinese Society of Clinical Oncology (CSCO). Furthermore, the CDK4/6 inhibitor Cosela (trilaciclib) saw its full market filing for the treatment of first-line extensive-stage small-cell lung cancer (ES-SCLC) accepted for review by the National Medical Products Administration in February, along with another market filing for second-line and above ES-SCLC accepted for review in August.-Fineline Info & Tech
