China-based Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) released its 2024 financial report last week, recording revenues of RMB 12.26 billion (USD 1.69 billion) after a 21.3% year-on-year (YOY) expansion. The main growth drivers, innovative drugs and collaborative products, generated combined sales of RMB 9.48 billion (USD 1.31 billion), up 38.1% YOY and accounting for 77.3% of total revenue. R&D expenditure stood at RMB 2.70 billion (USD 372 million), up 28.8% YOY and constituting 20% of total revenue.
Revenue Growth Drivers
Hansoh’s main products focus on tumors, infection, central nervous system (CNS) diseases, metabolic diseases, and other areas. The increase in revenue, profit, and basic earnings per share during the period was primarily due to higher revenue from innovative drugs and cooperative products. This growth is attributed to increased sales of innovative drugs and revenue from collaboration with GSK. As of December 31, 2024, all approved indications of its innovative drugs have been covered by the National Reimbursement Drug List (NRDL).
Future Strategy
Hansoh will continue to focus on novel drug research and development and internationalization strategy, doubling down on layout in major disease treatment fields such as anti-tumor, CNS, metabolism, and autoimmunity. The company will also ramp up business development cooperation and licensing deals, in addition to implementing a differentiated product portfolio and multi-channel commercialization strategy.-Fineline Info & Tech
Leave a Reply