Ascentage Pharma (HKG: 6855), a biopharmaceutical company based in China, has released its financial report for 2023, highlighting a total revenue growth of 5.9% year-on-year (YOY) to RMB 222 million (USD 30.7 million). This figure includes product sales amounting to RMB 194 million (USD 26.8 million). The company’s marketing and distribution expenditure saw an increase of 24.1%, reaching RMB 195 million, attributed to increased commercialization expenses for the BCR-ABL inhibitor olverembatinib and other products. Research and development (R&D) expenditure experienced a decrease of 4.9%, settling at RMB 707 million, primarily due to reduced outsourcing services.
Olverembatinib, which entered the National Reimbursement Drug List (NRDL) in January 2023, has seen rapid uptake. The annual sales volume of boxes increased by 259% YOY, the number of hospitals accessing the drug rose by 567% YOY, and the total number of patients grew by 123% YOY. From its approval for listing in November 2021 to December 31, 2023, olverembatinib’s cumulative sales revenue has reached RMB 362 million (USD 50 million).
Both olverembatinib and Bcl-2 inhibitor APG-2575 have received IND approvals for five different global Phase III regulatory studies, addressing a variety of blood cancer indications. Ascentage has nine small-molecule candidates under clinical development, which are the subject of over 40 Phase I/II studies across China, the US, Australia, and Europe. As of December 31, 2023, the company holds 498 authorized patents worldwide, with 352 covering overseas markets.- Flcube.com
