Simcere Pharmaceutical Group (HKG: 2096), a China-based pharmaceutical company, has reported its financial results for the year 2022, showcasing a significant increase in revenues. The company recorded RMB 6.139 billion (USD 920 million) in revenues, marking a 26.4% year-on-year (YOY) growth.
Revenue Breakdown and R&D Investment
Revenues from the innovative medicine business segment reached RMB 4.128 billion (USD 601 million), up 32.3% YOY. Out-licensing contributed RMB 106 million (USD 15.4 million), and drug sales and promotion services accounted for RMB 6.213 billion (USD 904.6 million). Simcere has successfully commercialized six innovative drugs and invested heavily in research and development, with spending over the 12 months reaching approximately RMB 1.728 billion (USD 251.6 million), up 21.9% YOY.
Nervous System and Oncology Performance
The nervous system income grew by 41% YOY to RMB 2.267 billion (USD 330 million). Edaravone, a therapy for acute ischemic stroke (AIS), contributed robust growth and is now used in 3,440 medical institutions. The drug was added to the National Reimbursement Drug List (NRDL) in January 2023, and a clinical study for a new indication of hemorrhagic stroke is planned for this year.
Oncology sales reached RMB 1.43 billion (USD 208.2 million), up 15.5% YOY. Trilaciclib received conditional market approval in China in July 2022 for the treatment of extensive-stage small cell lung cancer (ES-SCLC). Envafolimab, a PD-L1 antibody developed in partnership with Alphamab and 3D Medicines, was approved for adults with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) advanced solid tumors in 2021 and has helped 20,000 patients to date.
Autoimmune Disease and Anti-Infectives Business
The autoimmune disease business saw sales of RMB 1.28 billion (USD 186.3 million), up 39.4%. In December 2022, Simcere released real-world data for Iremod (iguratimod), suggesting the drug could add a new indication for lupus nephritis (LN) to its existing active rheumatoid arthritis approval.
In the anti-infectives business, the small-molecule COVID-19 therapy Xiannuoxin (simnotrelvir, ritonavir) received conditional approval in China in January 2023 and has completed patient enrollment for a Phase III study against the Omicron variant.
Conclusion
Simcere Pharmaceutical Group’s 2022 financial report highlights the company’s strong performance across various therapeutic areas, with innovative medicines driving significant revenue growth. The company’s commitment to research and development and its expanding portfolio of commercialized drugs position it for continued growth in the global pharmaceutical market.-Fineline Info & Tech
