China-based YiChang HEC ChangJiang Pharmaceutical Co., Ltd (HKG: 1558) has released its 2022 interim report, showcasing a significant recovery. The company generated RMB 1.293 billion ($180.7 million) in revenues during the first half of 2022, up 539.5% year-on-year (YOY), and RMB 961 million ($134.3 million) in gross profits, up 853.1% YOY. The main driver of this recovery was the easing of COVID-19 lockdowns in southern provinces, which led to a resurgence of influenza, a key market for HEC.
Product Sales and Approvals
During the period, oseltamivir accounted for 77.8% of total sales, with other key products including benzbromarone (3.0%), telmisartan (2.4%), olmesartan medoxomil (1.9%), and moxifloxacin (1.2%). Additionally, the company received marketing approval for metoprolol, a hypertension and heart failure drug, and the antibiotic azithromycin.
R&D and Future Outlook
Research and development (R&D) costs were RMB 40.91 million ($5.7 million), down 17.6% YOY. HEC is strategically pivoting towards endocrine and metabolic disease areas, particularly diabetes. The company has received marketing approval for recombinant human insulin injection and insulin glargine injection, with insulin aspart injection, insulin aspart 30 injection, and protamine recombinant human insulin injection (premix 30R) awaiting regulatory decisions. Phase III clinical studies for rongliflozin and liraglutide are also underway.-Fineline Info & Tech
