Sichuan Kelun Pharmaceutical Co., Ltd (SHE: 002422), a leading pharmaceutical company in China, has announced its financial results for 2023, with revenues reaching RMB 21.454 billion (USD 2.96 billion), marking a 12.69% year-on-year (YOY) increase, and a net profit of RMB 2.457 billion (USD 340 million). The company’s research and development (R&D) expenses for the year were RMB 1.94 billion (USD 270 million), an uptick of 8.27% YOY.
As of December 31, 2023, Kelun Pharmaceutical’s portfolio comprised 646 varieties across 1,022 specifications, with 308 products included in the National Reimbursement Drug List.
Benefiting from the normalization of pandemic conditions, the resumption of infusion diagnosis and treatment services in medical institutions, and the expansion of volume-based procurement (VBP) and renewal areas, Kelun Pharmaceutical’s infusion business saw sales revenue of RMB 10.109 billion in 2023, representing a 6.96% YOY increase in value and a 10.6% YOY increase in volume. In contrast, non-infusion drugs faced headwinds from national and local VBP rounds, resulting in a 6.93% YOY decrease in sales revenue to RMB 3.955 billion.
The operating revenue from antibiotic intermediates and raw materials reached RMB 4.843 billion, a significant increase of 23.78% YOY. During the year, the company initiated over 50 registration projects for intermediates, active pharmaceutical ingredients, and generic drugs across more than 20 overseas countries/regions. International revenue for the year stood at RMB 2.572 billion, reflecting an impressive 83.97% YOY growth.- Flcube.com
