By Fineline Cube 
China-based Luye Pharma Group (HKG: 2186) announced its 2024 financial performance, recording RMB 6.061 billion (USD 836 million) in revenues, a 1.3% year-on-year (YOY) decline. This decrease was primarily due to reduced income from non-product sales, such as research and development (R&D) services. However, product sales showed resilience, growing 1.1% YOY to RMB 5.7 billion (USD 785 million).
Product Performance
Luye Pharma’s product portfolio includes oncology, cardiovascular, central nervous system (CNS), and metabolic products, which remain competitive in the Chinese market. Globally, the company focuses particularly on CNS therapies, including Seroquel (quetiapine), Erzofri, Rykindo, and rivastigmine transdermal patch.
Segment Analysis
- CNS Products: Sales decreased by 4.8% YOY to RMB 1.613 billion (USD 222 million).
- Oncology Products: Generated RMB 2.0846 billion (USD 287 million) in sales, a 1.8% YOY decline.
- Cardiovascular Products: Recorded RMB 1.66 billion (USD 223 million) in sales, down 1.6% YOY.
- Metabolic Products: Saw a more significant drop of 13.7% YOY to RMB 390 million (USD 54 million).
Market Strategy
While facing challenges in several segments, Luye Pharma continues to strengthen its position in the CNS sector globally. The company remains committed to expanding its therapeutic footprint through ongoing R&D and strategic market focus.-Fineline Info & Tech