By Fineline Cube Jiangsu Hengrui Pharmaceuticals Co., Ltd (SHA: 600276) has released its financial report for the first half of 2023, reporting revenues of RMB 11.168 billion (USD 1.53 billion), marking a 9.19% increase year-on-year (YOY). The contribution from innovative drugs to this total was RMB 4.962 billion (USD 680 million). The company has continued to increase its research and development (R&D) investment, with R&D costs reaching RMB 2.331 billion (USD 320 million), up 6.73% YOY. This news indicates a recovery in Hengrui’s market performance following a 17% annual sales decline last year and a 23.08% decrease in H1’22.
Innovative Drug Approvals and Market Expansion
During the reporting period, Hengrui obtained approvals for three innovative drugs: adebrelimab (Airuili), retagliptin (Ruizetang), and oteseconazole. Adebrelimab is Hengrui’s first in-house PD-L1 inhibitor, and retagliptin is the company’s first dipeptidyl peptidase-4 (DPP4) inhibitor for diabetes. Additionally, several new indications have been approved for already on-market products, including the combination of PD-1 inhibitor camrelizumab and VEGFR inhibitor apatinib for first-line treatment of hepatocellular carcinoma (HCC), and approvals for EGFR/HER2 inhibitor pyrotinib and CDK4/6 inhibitor dalpiciclib for advanced breast cancer treatments.
Pipeline Developments and Clinical Trials Progress
Other key pipeline developments for Hengrui included the acceptance of 6 New Drug Applications (NDA) by the National Medical Products Administration (NMPA), covering a range of indications such as autoimmune, dry eye disease, diabetes, and cardiovascular diseases. The EZH2 inhibitor SHR2554 and anti-HER2 antibody drug conjugate (ADC) SR-A1811 received four breakthrough therapy designation (BTD) awards. During the six-month period, Hengrui promoted 6 clinical trials to Phase III stage, demonstrating the company’s commitment to advancing its pharmaceutical pipeline and expanding its market presence.-Fineline Info & Tech