China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) released its 2023 financial report, recording HKD 1.4 billion (USD 193 million) in revenues, up 32.9% year-on-year (YOY). Licensed products continued to yield significant sales growth with HKD 553 million (USD 76 million), accounting for 39.5% of the total revenue. Patented and generic drugs also showed strong momentum, with combined sales totaling HKD 847 million (USD 117 million), accounting for 60.5% of the group’s revenue.
Licensed Products Performance
In terms of licensed products, renal transplant rejection inhibiting agent Bredinin (mizoribine), amyotrophic lateral sclerosis (ALS) therapy Ruishuyan (riluzole), and antidepressant Trittico (trazodone) reported respective sales growth of 24.5%, 143.4%, and 137.8% to HKD 134 million (USD 18 million), HKD 20.7 million (USD 2.8 million), and HKD 121 million (USD 17 million). While Ferplex (iron proteinsuccinylate) remained a main contributor, although sales of the iron supplement slid 9.3% YOY to HKD 186 million (USD 26 million).
In-house Developed Products
In-house developed products also showed excellent performance. Litengjing (nadroparin), an antithrombotic involved in the volume-based procurement (VBP), generated HKD 193 million (USD 27 million) in sales after a 130.4% expansion. Recombinant human interferon α2b rebounded with sales of HKD 255 million (USD 31 million), up 12.8% YOY. Generic drugs performed well, with total sales up 59.9% YOY to HKD 256 million (USD 35 million), driven by Ruinier (treprostinil)’s HKD 184 million (USD 25 million) sales, up 62.3% YOY.-Fineline Info & Tech
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