Chongqing Zhifei Biological Co., Ltd (SHE: 300122), a biopharmaceutical company based in China, has released its financial report for 2023, recording revenues of RMB 52.918 billion (USD 7.3 billion), an increase of 38.3% year-on-year (YOY). Net profits for the company were reported at RMB 8.07 billion (USD 1.11 billion), marking a 7.04% YOY increase. Research and development (R&D) expenses for the year were RMB 1.345 billion (USD 190 million), which accounted for 130.81% of the firm’s self-developed product sales and represented a 20.82% YOY increase.
Zhifei’s portfolio includes 13 listed products and one product with conditional marketing approval, with a focus on vaccines for meningitis, cervical cancer, pneumonia, rotavirus, herpes zoster, and other infectious diseases. The company also offers diagnostic and preventive measures for tuberculosis infection, catering to a wide range of age groups from infants to adults. Zhifei’s independently developed 23-valent pneumococcal polysaccharide vaccine has been approved for marketing, and the clinical trial application for the 26-valent pneumococcal conjugate vaccine is under review. Additionally, a recombinant B group meningococcal vaccine has entered Phase I clinical trials, and the company is developing a tetravalent meningococcal conjugate vaccine and a pentavalent meningococcal vaccine.
In January 2023, Zhifei renewed its agent promotion agreements with US pharmaceutical giant Merck, Sharp & Dohme, including for the Gardasil HPV vaccine, with agreed product purchases exceeding RMB 100 billion over the next four years. In October, the company entered into a new partnership with UK pharmaceutical company GSK to jointly commercialize a recombinant herpes zoster vaccine, with an initial intention to collaborate on RSV vaccine development. Following this, a merger and acquisition deal was struck with compatriot firm Chenan Biopharm.
During the year, Zhifei intensified its communication and cooperation with international organizations such as the World Health Organization (WHO), the Global Alliance for Vaccines and Immunization (Gavi), and the United Nations International Children’s Emergency Fund (Unicef), in addition to pursuing global registration and clinical partnerships.- Flcube.com
