China’s Betta Pharmaceuticals (SHE: 300558) reported RMB 1.25 billion (USD 182.5 million) in revenue for H1 2022, up 8.5% year-on-year (YOY). The growth was driven by strong sales of key drugs, including icotinib and ensartinib, despite a 55.96% drop in net profits to RMB 95 million (USD 13.8 million).
Drug Performance
- Icotinib: Sales of the EGFR-TKI rose 37.40% YOY, mitigating the impact of National Reimbursement Drug List (NRDL) price cuts.
- Ensartinib: The ALK inhibitor saw sales surge 1495.29% YOY, becoming a major growth driver.
- Bevacizumab Biosimilar: MIL60, a biosimilar of Roche’s Avastin, was commercialized on January 5, 2022.
R&D Investment
R&D spending reached RMB 459.2 million (USD 67 million), up 15.27% YOY. Over the past three years, R&D investment as a percentage of revenue averaged 40%, supporting a robust pipeline with 5 late-stage drugs and over 40 ongoing programs.
Strategic Partnerships
Betta Pharma has licensed assets from Agenus, Merus, InventisBio, and Mabworks Bio, including MIL60, BPI-D0316, CM082, balstilimab/zalifrelimab, MCLA-129, and MRX2843. As of the announcement, MIL60 is commercialized, CM082 is under review, and others are in clinical trials.-Fineline Info & Tech
