China-based Grand Pharmaceutical Group Limited (HKG: 0512) published its 2022 financials, reporting revenues of HKD 9.562 billion (USD 1.2 billion) over the 12 months, marking a 15.1% increase year-on-year (YOY). The net profit attributable to equity holders reached HKD 2.14 billion (USD 272 million), up 15.4% YOY. The company invested HKD 2.45 billion (USD 312.1 million) in research and development (R&D) and products.
Product and R&D Developments
In oncology, Grand Pharma’s yttrium [90Y] resin microsphere, the world’s only selective internal radiation therapy (SIRT) for colorectal cancer liver metastases, received market approval in China in January 2022, was launched in May, and generated HKD 60.26 million (USD 7.67 million) in sales. The firm’s four novel radionuclide drug conjugates (RDCs) also contributed significantly.
In the cardiovascular and cerebrovascular precision intervention sector, the company licensed the endogenous tissue repair product aXess, obtained approvals for intracranial balloon dilation catheter and occlusion balloon catheter, and completed the first special laser ablation surgery for atrial fibrillation using its HeartLight X3 laser ablation platform.
For respiratory and severe anti-infection, two compound asthma products were launched and included in the National Reimbursement Drug List (NRDL). The sepsis and ARDS innovative product STC3141 and the innovative oral small molecule anti-COVID-19 infection 3CL protease inhibitor GS221 have also made progress in clinical trials.
In cardiovascular and cerebrovascular first aid, its adrenaline hydrochloride injection (pre-filling) became the first generic for marketing in China, and the Jext pre-charged adrenaline automatic injection pen obtained special access via the Greater Bay Area.
Achievements and Expansion
Throughout 2022, the company obtained 13 marketing licenses, 17 clinical advances, 3 international registrations, and 15 core patents. It completed the introduction of 4 innovative products and established 42 research and development projects, with outstanding achievements in the transformation of innovative results. There are currently 136 projects under research and 55 innovative projects in total. Globally, the company has deployed 6 R&D technology platforms and 10 R&D centers, with over 700 R&D personnel. In 2022, the company opened its global R&D center in Wuhan Optics Valley, device R&D center in Changzhou, GCP-Shandong University radiopharmaceutical research institute, and mRNA R&D center in Nanjing.
Strategic Partnerships
Grand Pharma struck a licensing deal with Swiss giant Novartis, obtaining global commercialization rights to two asthma products. The company invested RMB 65 million (USD 9.52 million) more in Inspire Medical Systems, partnered with Eye Hospital, WMU, licensed a global innovative endogenous tissue repair product from XELTIS AG, fully acquired Hubei Bafeng Pharmaceuticals & Chemicals Co., Ltd for RMB 270 million (USD 39.5 million), and invested an additional USD 35 million in Sirtex, increasing its ownership to 51.61%.-Fineline Info & Tech
