CanSino Biologics (HKG: 6185), a leading Chinese biopharmaceutical company, has released its financial report for 2023, recording revenues of RMB 345.2 million (USD 47.7 million), a decrease of 67% year-on-year (YOY). This decline is primarily attributed to the reduced demand for COVID-19 vaccines, resulting in a RMB 253.2 million refund.
During the year, the meningococcal vaccine contributed RMB 561.7 million in revenue, marking a significant increase of 266% YOY due to its ongoing commercialization. Research and development (R&D) expenditure was recorded at RMB 638 million, an 18.0% decrease YOY, stemming from reduced clinical studies and testing fees associated with COVID-19 vaccines.
The ACYW135 Meningococcal Conjugate Vaccine (CRM197), trade-named Menhycia, has been well-received in China since its market launch. The company’s thirteen valent pneumonia conjugate vaccine is currently under marketing review. The broad spectrum recombinant pneumococcal protein vaccine has completed Phase Ib study site work. In the pertussis product portfolio, the DTcP vaccine for infants and young children has advanced to Phase III clinical trials, while the Tdcp vaccine for adolescents and adults has initiated Phase I clinical trials. A combination vaccine based on component pertussis is also progressing rapidly towards the clinical stage.
In addition, CanSino entered into partnerships with Malaysia-based Solution Group Berhad and UK pharmaceutical major AstraZeneca during the period.- Flcube.com
