YiChang HEC ChangJiang Pharmaceutical Co., Ltd (HKG: 1558), a China-based pharmaceutical company, has released its financial report for 2022, recording revenues of RMB 3.745 billion (USD 582.8 million), marking a substantial increase of 309.83% year-on-year (YOY). The company transitioned from a previous year loss to achieve net profits of RMB 76.6 million (USD 11.1 million). Research and development (R&D) expenditure for the period was RMB 199.2 million (USD 28.8 million), a decrease of 19.08% YOY.
Core Product Sales and Therapy Performance
During the period, the company’s core product, the anti-influenza drug oseltamivir granules and capsules, generated a combined revenue of RMB 3.092 billion (USD 448.2 million), representing a significant increase of 450% YOY. Hypertension therapies telmisartan and olmesartan medoxomil contributed RMB 62.93 million (USD 9.1 million) and RMB 44.26 million (USD 6.4 million) respectively, with YOY increases of 26.65% and 19.14%. Gout therapy benzbromarone revenue reached RMB 98.42 million (USD 14.26 million), up 27.6% YOY.
Marketing Approvals and Pipeline Progress
HEC obtained marketing approvals for metoprolol, azithromycin, Insulin Aspart, and Insulin Aspart 30 in 2022, demonstrating the company’s commitment to expanding its product offerings. The recombinant human insulin injection with protamine (pre-mixed 30R) is under domestic manufacturing registration review in China. RongliflozinL-Pyroglutamic Acid is currently in a Phase III study, and the liraglutide biosimilar is being prepared for market filing. As of December 31, 2022, 29 out of 33 generics acquired from Guangdong HEC Pharm have been approved for marketing in China.-Fineline Info & Tech
