China-based Luye Pharma Group’s (HKG: 2186) controlling subsidiary Shandong Boan Biotechnology Co., Ltd (HKG: 6955) released its 2024 financial report, showing revenues growing 17.5% year-on-year (YOY) to RMB726.3 million (USD100 million). This growth was primarily driven by BA1101, a biosimilar of Roche’s Avastin (bevacizumab), and BA6101, a version of Amgen’s Prolia (denosumab).
Pipeline and Commercial Achievements
In 2024, Boan Bio made significant progress in pipeline development, marketing, sales, manufacturing, and business collaboration. As of the announcement date, the company had launched BA1101, BA6101, and BA1102, a copycat of Xgeva (denosumab), in mainland China.
Marketing Approvals
BA1102 obtained marketing approval in China for anti-tumor indications in May of last year, further strengthening Boan Bio’s position in the biosimilars market.-Fineline Info & Tech
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