China-based 3SBio Inc. (HKG: 1530) released its 2022 financial report, recording revenues of RMB 6.859 billion (USD 995.9 million), a 7.5% increase year-on-year (YOY). Net profits reached RMB 2.163 billion (USD 314 million), up 25.2% YOY. This marks a significant milestone in the company’s ongoing growth and expansion.
Core Product Performance
The company’s core products, including TPIAO (recombinant human thrombopoietin [rhTPO]), Yisaipu (a biosimilar version of etanercept), and two forms of recombinant human erythropoietin (rhEPO), EPIAO and SEPO, maintained their leading positions in China. TPIAO, the world’s only commercialized rhTPO product, renewed its National Reimbursement Drug List (NRDL) status in 2022 and generated RMB 3.397 billion (USD 493.2 million) in sales, up 10.3% YOY. EPIAO and SEPO combined for RMB 1.129 billion (USD 163.9 million) in sales, with a dominant 44.5% market share. Yisaipu, used to treat rheumatoid arthritis, ankylosing spondylitis, and psoriasis, brought in RMB 512 million (USD 74.3 million), accounting for 27.1% of the domestic TNFα inhibitor market.
Additional Product Highlights
Cipterbin (inetetamab), an anti-HER2 monoclonal antibody approved for marketing in 2020, increased its market share and realized RMB 159 million (USD 23.08 million) in sales, up 138.1% YOY. The hair health product minoxidil also performed well, with RMB 891 million (USD 129.3 million) in sales, up 48.1% YOY. Additionally, the company’s CDMO business completed RMB 166 million (USD 24.1 million) in customer orders, up 49.6% YOY.
Strategic Partnerships and Future Plans
During the period, 3SBio licensed its PD-1 inhibitor 609A to US firm Syncromune for global development and commercialization of its tumor immunotherapy Syncrovax. It also granted development and commercialization rights to Kelingyuan Pharma for Cipterbin as an antibody-drug conjugate (ADC) component and obtained Greater China rights to Cosmo Pharmaceuticals N.V.’s Winlevi. The company expects to market eight products in 2023 and make market filings for a dozen products in the next three years.-Fineline Info & Tech
