China-based Sino Biopharmaceutical Ltd (HKG: 1177) released its 2024 financial report, recording revenues of RMB 28.9 billion (USD 4 billion), marking a 10.2% year-on-year increase. This growth was driven by strong performances across multiple therapeutic areas and the continued expansion of innovative drug sales.
Revenue Breakdown
Innovative drugs generated RMB 12 billion (USD 1.7 billion), up 21.9% year-on-year and accounting for 41.8% of total revenues. New product sales reached RMB 10 billion (USD 1.4 billion), up 25.4% year-on-year and making up 35% of total revenues.
Therapeutic Area Performance
- Anti-tumor drugs: Sales reached RMB 10.73 billion (USD 1.5 billion), accounting for 37.2% of group revenue, up 22.0% year-on-year.
- Liver disease medications: Generated RMB 3.44 billion (USD 475 million), accounting for 11.9% of group revenue, up 10.1% year-on-year.
- Respiratory system medications: Recorded sales of RMB 3.15 billion (USD 435 million), accounting for 10.9% of group revenue, up 6.2% year-on-year.
- Surgical/analgesic drugs: Sales reached RMB 4.46 billion (USD 615 million), accounting for 15.4% of group revenue, up 18.9% year-on-year.
- Cardiovascular and cerebrovascular drugs: Sales dropped 21.0% year-on-year to RMB 2.17 billion (USD 299 million), accounting for 7.5% of group revenue.
Volume-Based Procurement and National Reimbursement
Products involved in the 10th round of volume-based procurement (VBP) tendering accounted for 1% of group revenue, with no significant impact. Notably, Category 1 drugs AnboniI (unecritinib) and Anluoqing (envonalkib) were included in the National Reimbursement Drug List (NRDL), enhancing their market accessibility and potential for future growth.-Fineline Info & Tech
