InnoCare Pharma (HKG: 9969; SHA: 688428), a biopharmaceutical company based in China, has released its financial report for the first half of 2024, highlighting a revenue of RMB 4.197 billion, marking an increase of 11.2% year-on-year. This growth was primarily driven by the rapid adoption of its key product, orelabrutinib, a Bruton’s tyrosine kinase (BTK) inhibitor. The company’s losses narrowed by 37.6% year-on-year to RMB 268 million.
Orelabrutinib contributed revenue of RMB 417 million during the period, a significant increase of 30.0% year-on-year. This performance can be attributed to the inclusion of its three approved indications in China’s National Reimbursement Drug List (NRDL). As the first and only BTK inhibitor approved for the treatment of recurrent refractory marginal zone lymphoma (MZL) in China, orelabrutinib is noted for its favorable safety profile, high patient compliance, and extended treatment duration.
Another commercialized product in InnoCare’s portfolio is Minjuvi (tafasitamab), an Fc-enhanced, humanized, anti-CD19 monoclonal antibody that received approval in Hong Kong at the end of 2022. The drug, previously prescribed in Boao, Hainan for diffuse large B-cell lymphoma (DLBCL), is currently awaiting regulatory decisions in China for use in adult patients with relapsed or refractory DLBCL who are not eligible for autologous stem cell transplantation (ASCT). Approval is anticipated in the first half of 2025.
InnoCare reported substantial progress with 13 of its investigational drugs during the period, with over 30 clinical studies underway at various stages, reflecting the company’s robust pipeline and commitment to innovation in biopharmaceuticals.- Flcube.com
