China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512) published its financial results for the first half of 2022, ending June 30. The company reported revenues of HKD5.212 billion (USD664 million), marking a 14.1% year-on-year (YOY) increase. Excluding income from changes in fair value relating to the investment in Telix, the profit attributable to shareholders was approximately HKD1.09 billion (USD138.9 million), up 20.07% YOY. During the period, China Grand invested HKD1.6 billion (USD204 million) in research and development (R&D) for new products and partnerships.
Pharmaceutical Products
Pharmaceutical products generated HKD3.6 billion (USD458.7 million) of the company’s revenues, with a 7.5% YOY growth. By business segment, ophthalmology products brought in HKD661 million, up 14.7% YOY, driven by core products Dextran, Hypromellose, Glycerol, and He Xue Ming Mu.
Respiratory and Anti-infection Products
The respiratory and severe anti-infection products segment generated HKD1.051 billion, up 10.7% YOY. The increase was mainly due to the expansion of product indications, leading to steady growth in these products.
Cardiovascular and Cerebrovascular Products
Cardiovascular and cerebrovascular products brought in HKD997 million, down 7.7% YOY. However, nuclear medicine anti-tumor diagnosis and treatment and cardiovascular and cerebrovascular precision interventional diagnosis and treatment technology products generated HKD125.8 million in sales, up 36.2% YOY during the period. This growth was attributed to the market approval of injectable yttrium [90Y] microspheres.
Biotechnology Segment
Biotechnology segment revenues were HKD1.488 billion, up 32% YOY, of which the revenue of the amino acid segment was HKD1.25 billion, up 40.3% YOY. The increase was primarily due to the stable support of the supply chain and the growth of high-end international market demand.
R&D Progress
During the period, China Grand had 114 programs under development and 46 novel programs. In terms of R&D progress, the company obtained 7 marketing approvals, covering 2 novel drugs and 5 generic products (including those that passed the generic quality consistency evaluation). It also made 1 market filing and earned 2 clinical trial approvals.-Fineline Info & Tech
