Bio-Thera Solutions Reports 5.44% Revenue Growth in 2024 Driven by Biosimilar Sales

Guangzhou-based Bio-Thera Solutions (SHA: 688177) announced its 2024 financial results, recording RMB 743.17 million (USD 101.41 million) in revenues, reflecting a 5.44% year-on-year (YOY) increase. This growth is attributed to steady sales of its biosimilar products, Qletli (adalimumab) and Shiruili (tocilizumab), alongside the initiation of overseas supply operations for Shiruili.

Product Portfolio
Bio-Thera has four products approved in China: Qletli, Avzivi (bevacizumab biosimilar), Shiruili, and Betagrin (batifiban). Two products, Tofidence (tocilizumab biosimilar) and Avzivi, are approved in the US and European Union (EU), while Bevyx (bevacizumab biosimilar) is approved in Brazil.

Regulatory Progress
The company is awaiting regulatory decisions for BAT2206 (ustekinumab biosimilar) in China, the US, and EU; BAT2506 (golimumab biosimilar) in the EU and China; and BAT2306 (secukinumab biosimilar) in China. Additionally, BAT4406F, BAT3306, BAT1308, BAT8006, and BAT5906 are in Phase III or pivotal regulatory clinical trials.-Fineline Info & Tech