China-based Grand Pharmaceutical Group Co., Ltd. (HKG: 0512) revealed its 2024 financial performance, recording revenues of HKD 11.64 billion (USD 1.5 billion), marking a 12.8% year-on-year increase. Net profits reached HKD 2.47 billion (USD 318 million), up 34% from the previous year. Based on this strong performance, the company plans to distribute HKD 910 million (USD 117 million) in dividends.
Milestone Achievements
Throughout the year, Grand Pharmaceutical Group achieved 63 major milestone developments, including 23 for new products, 17 for generic drugs, and 3 for functional food. A total of 14 products were commercialized in 2024. Notable among these is a urothelial carcinoma early detection product from the nuclear medicine anti-tumor diagnosis and treatment sector, as well as 5 medical devices from the cardiovascular and cerebro-cardiovascular precision interventional diagnosis and treatment sector.
Nuclear Medicine Sector Highlights
The nuclear medicine anti-tumor diagnosis and treatment sector, one of Grand Pharma’s most globalized segments with 800 employees, generated HKD 590 million (USD 75.9 million) in sales in 2024, representing a remarkable 176.6% increase. The core product, SIR-Spheres (Y-90 microsphere) injection, gained rapid market acceptance, treating up to 2000 patients in total. In the field of radionuclide drug conjugates (RDC), Grand Pharma secured clinical approvals for 4 products, with 3 already in Phase III stages.-Fineline Info & Tech
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