China-based Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) has released its financial report for 2022. As of December 31, 2022, the company reported revenues of RMB 9.382 billion (USD 1.362 billion), a decrease of 5.6% year-on-year (YOY). Despite this, the sales revenue of innovative drugs reached RMB 5.006 billion (USD 727 million), marking a 19.1% increase and accounting for 53.4% of the total revenue. Research and development expenditures for the year totaled RMB 1.693 billion (USD 245.9 million), which is 18% of the total revenue. The profit margin stood at approximately RMB 2.584 billion (USD 375.3 million), up 4.8% YOY.
Product Development and Market Approvals
During the year, Hansoh Pharmaceutical obtained marketing approvals for 11 products, including one imported novel drug, and secured 19 clinical trial approvals, all related to innovative drugs. The company also made 6 market filings, including one for a novel drug. Its Category 1 product, phenylheptal peptide, received an additional indication approval for use in anemia in non-dialysis patients with chronic kidney disease who did not receive erythropoietin treatment.
Inclusion in National Reimbursement Drug List and Licensing Deals
Six novel drugs obtained marketing approvals and were included in the National Reimbursement Drug List (NRDL), including Uplizna (inebilizumab), approved for the treatment of neuromyelitis optica spectrum disorder (NMOSD) with positive anti-aquaporin 4 antibody (AQP4 antibody). The company also licensed in 3 clinical-stage products. Business development (BD) program expenditures for 2022 reached RMB 292 million (USD 42.4 million), including upfront and milestone payments.
Recent Developments and Clinical Approvals in 2023
In January 2023, the company’s self-developed Category 1 drug HS-10390 was approved for clinical trials, intended for use in focal segmental glomerulosclerosis and immunoglobulin A nephropathy. HS-10517, a Category 1 3CL protease inhibitor co-developed with GHDDI, received clinical approval for the treatment of mild to moderate COVID-19. In the same month, four innovative drugs from the group were included in the latest NRDL.-Fineline Info & Tech
