China-based Innovent Biologics, Inc. (HKG: 1801) reported RMB 2.24 billion (USD 326.4 million) in revenue for H1 2022, a 15.3% year-on-year (YOY) increase. Product sales reached RMB 2.04 billion (USD 297.3 million), up 10%, while R&D spending rose 22.5% to RMB 1.07 billion (USD 155.9 million). Net losses widened to RMB 1.08 billion (USD 157.4 million) due to increased R&D expenses.
Product Performance
- Tyvyt (Sintilimab): The PD-1 inhibitor faced significant price cuts to retain its National Reimbursement Drug List (NRDL) listing but maintained market uptake.
- Pemazyre (Pemigatinib): Revenues for the FGFR inhibitor grew, with approvals in Hong Kong (January 2022) and mainland China (April 2022) for advanced cholangiocarcinoma.
- Cyramza (Bevacizumab): The biosimilar secured new approvals for ovarian and cervical cancers, boosting sales.
- Sulinno (Adalimumab): The autoimmune drug gained approvals for Crohn’s disease in adults and children.
Pipeline Updates
Innovent’s pipeline includes 34 innovative molecules: 25 oncology and 9 non-oncology products. Seven are approved, three await regulatory decisions, and four are in Phase III/pivotal studies. Key candidates include:
- Retsevmo (Selpercatinib): A RET inhibitor awaiting China approval.
- IBI-306 (Tafolecimab): An anti-PCSK9 antibody.
- IBI-326 (Equecabtagene Autoleucel): A BCMA-targeted CAR-T therapy.-Fineline Info & Tech
