By Fineline Cube China-based Beijing Winsunny Pharmaceutical Co., Ltd. has announced plans for an initial public offering (IPO) of 120 million shares on the Shanghai Stock Exchange. The proceeds, totaling RMB 1.74 billion (USD 258 million), will fund the Phase I industrialization project, research and development of novel and generic drugs, and working capital.
Company Overview and Business Scope
Winsunny Pharma takes pride in having 9 first-mover generic drugs in China, with 23 varieties passing the generic quality consistency evaluation (GQCE). These drugs cover multiple therapeutic areas including the cardiovascular system, chronic kidney disease, skin disease, the digestive system, diabetes, and the mental nervous system. Additionally, the company has a medical device business focused on clinical nursing. Currently, Winsunny Pharma is developing 23 generic products, 5 novel drugs, and 4 medical devices.
Financial Performance and R&D Investment
During the first quarter of 2022, Winsunny Pharma reported revenues of RMB 748 million (USD 111 million) and net profits of RMB 86 million (USD 12.7 million), marking year-on-year increases of 22.43% and 44.83%, respectively. The company has shown a strong commitment to research and development, investing RMB 172 million (USD 25.5 million), RMB 141 million (USD 20.9 million), and RMB 180 million (USD 26.7 million) in 2019, 2020, and 2021. These R&D expenditures accounted for 7.07%, 5.56%, and 6.33% of the respective year’s revenues.-Fineline Info & Tech