China-based 3SBio Inc. (HKG: 1530) has released its financial report for the first half of 2023, recording revenues of RMB 3.784 billion (USD 521 million), marking a 22.3% year-on-year (YOY) increase. Net profits reached RMB 1.191 billion, up 20.1% YOY.
Product Sales and Market Share Highlights
TPIAO (recombinant human thrombopoietin [rhTPO]), the only commercialized product of its kind globally, generated RMB 2.019 billion, up 28.2% YOY, and had its National Reimbursement Drug List (NRDL) status renewed at the beginning of the year. The company’s two forms of recombinant human erythropoietin (rhEPO), EPIAO and SEPO, achieved sales of RMB 463 million, securing a 42.9% market share. Yisaipu, a biosimilar version of etanercept used to treat rheumatoid arthritis, ankylosing spondylitis, and psoriasis, brought in RMB 300 million, up 25.0% YOY. Yisaipu’s pre-filled injection was approved in March, and Cipterbin (inetetamab), an anti-HER2 monoclonal antibody (mAb) approved for marketing in 2020, contributed RMB 109 million, up 60.5% YOY.
Digital Marketing Success and CDMO Sector Growth
Digital marketing has allowed 3SBio’s hair health products to increase rapidly, with Minoxidil, an OTC drug for androgenic alopecia and alopecia areata, generating RMB 496 million, up 35.3% YOY. E-commerce sales reached 64%. The CDMO sector jumped 71.6% YOY to RMB 95 million, with overseas base revenue increasing by 29% YOY and domestic base revenue soaring by 246% YOY. The group’s CDMO business currently has orders totaling approximately RMB 160 million.
Pipeline Development and Future Outlook
During the first half of 2023, 3SBio is developing 30 products, including 10 in blood/oncology, 13 in autoimmune and ophthalmology, 5 in nephrology, and 2 in skin and hair programs. Currently, 10 drugs have entered Phase III studies or the NDA filing stage, indicating a robust pipeline and strong development momentum.-Fineline Info & Tech
