China-based Simcere Pharmaceutical Group (HKG: 2096) has released its 2024 financial performance report, recording RMB 6.6 billion (USD 914 million) in revenues over the 12 months, marking a 0.4% year-on-year (YOY) increase. The profit attributable to equity shareholders rose by 2.6% YOY to RMB 733 million (USD 101 million). Notably, the company’s R&D investment saw a significant adjustment, decreasing by 22.3% YOY to RMB 1.523 billion (USD 210 million).
Business Area Performance
The revenue from the oncology field decreased by 17.6% to RMB 1.3 billion, accounting for 19.6% of the total revenue. The nervous system segment saw a 13.8% decline to RMB 2.2 billion, representing 32.8% of total revenue. In contrast, autoimmune diseases products emerged as a growth highlight, with revenue surging 28.0% to RMB 1.8 billion, making up 27.3% of the total revenue. The revenue from other fields decreased by 16.8% to RMB 1.4 billion, contributing 20.3% to the total revenue.
New Drug Approvals and R&D Allocation
During the period, Simcere Pharma achieved notable milestones with the approval of EGFR monoclonal antibody (mAb) Enlituo (cetuximab β) for first-line metastatic colorectal cancer (mCRC) and edaravone, borneol sublingual tablets for acute ischemic stroke (AIS). The company directed RMB 4.9 billion (+3.6%) into R&D, accounting for 74.3% of the total revenue, reflecting a strategic focus on innovation despite the overall reduction in R&D investment.-Fineline Info & Tech
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