Bio-Thera Solutions (SHA: 688177), a biopharmaceutical company headquartered in Guangzhou, has announced its financial results for 2023, reporting revenues of RMB 705 million (approximately USD 97.5 million), an increase of 54.86% year-on-year (YOY). This growth was largely driven by the sales of its biosimilar products: Qletli, a biosimilar version of AbbVie’s Humira (adalimumab) for auto-immune diseases; Shiruili, a biosimilar of Roche Holding AG’s Actemra/RoActemra (tocilizumab); and Avzivi, a biosimilar of Roche’s Avastin (bevacizumab).
In a significant milestone, Shiruili received marketing approval in the U.S. in September, becoming the first tocilizumab biosimilar in the country and will be marketed as Tofidence. Avzivi followed with U.S. market approval in December 2023.
The company also expanded its global footprint by securing licensing deals with emerging market players, including Brazil-based Biomm (B3: BIOM3), Thailand-based Mega Lifesciences, and Pakistan-based Macter International Ltd.
Investment in research and development (R&D) for the period was reported at RMB 769 million (approximately USD 106 million), representing a 24.7% increase YOY.- Flcube.com
