Bio-Thera Solutions, a biotech company based in Guangzhou and listed on the Shanghai Stock Exchange (SHA: 688177), has reported its financial results for the first half of 2024. The company recorded a 27.85% year-on-year (YOY) increase in revenue, reaching RMB 402.29 million. This growth is likely due to the continued sales momentum of its biosimilar products Qletli (adalimumab biosimilar) and Avzivi (bevacizumab biosimilar), as well as the U.S. sales of Shiruili (tocilizumab biosimilar), which received approval in September 2023 and was launched in May 2024.
Bio-Thera has an extensive marketing presence in China, with sales networks spanning all provinces, municipalities, and autonomous regions except for Hong Kong, Macao, and Taiwan. The company has established partnerships with over 1000 hospitals and 700 pharmacies nationwide. It primarily employs a self-operated distribution model for its products Qletli, Shiruili, and Beitaning (batifiban), with the agency sales model serving as a secondary approach. Avzivi’s distribution rights in China, including mainland China, Hong Kong, Macau, and Taiwan, have been licensed to BeiGene, a domestic firm.
In major global markets, Bio-Thera focuses on a commercial strategy that emphasizes global partnerships. For international emerging markets, the company combines this approach with regional advantage cooperation.
During the reporting period, Beitaning, Bio-Thera’s first innovative drug and the first domestically developed dual-functional anti-thrombotic β3 integrin receptor inhibitor, was approved for marketing in China. It is indicated for patients with acute coronary syndrome undergoing percutaneous coronary intervention, including coronary stent implantation, to mitigate the risk of acute occlusion and other related complications. Additionally, TOFIDENCE (tocilizumab), another product by Bio-Thera, was launched in the U.S. by its local partner Biogen International GmbH, marking the Chinese firm’s first product to be commercialized in the U.S. market.- Flcube.com
