Luye Pharma Group (HKG: 2186), a leading pharmaceutical company based in China, has announced its financial performance for 2023, along with recent business updates. The group reported a total revenue of RMB 6.143 billion (USD 850 million), marking a 2.7% year-on-year (YOY) growth. Their oncology, cardiovascular, central nervous system (CNS), and metabolic products remained competitive in the Chinese market.
In terms of business sectors, drug sales accounted for RMB 5.627 billion (USD 778 million), reflecting an 11% YOY increase. The R&D service sector revenue reached RMB 81.55 million, up 6% YOY, while external licensing agreement revenues soared to RMB 234 million, a 46% YOY increase. When broken down by treatment field, the company’s sales revenue for tumor products was RMB 2.122 billion, a decrease of 8% YOY. Cardiovascular system product sales reached RMB 1.687 billion, an increase of 9.9% YOY. Digestive and metabolic product sales were RMB 450 million, a decrease of 28.8% YOY. CNS product sales climbed to RMB 1.695 billion, an increase of 28.1% YOY. Sales of ‘other products’ reached RMB 188.3 million, an increase of 1.8% YOY.
Geographically, sales in Chinese Mainland remained stable at RMB 5.029 billion compared to 2022. The market revenue in Asia (excluding Chinese Mainland) was RMB 447 million, a 30% YOY increase. The EU market revenue reached RMB 450 million, a 46% YOY increase. However, the market revenue from other countries was RMB 217 million, a decrease of 27% YOY.
Luye Pharma Group boasts a robust product pipeline with over 30 investigational drugs in China and more than 10 investigational drugs in other markets. The company also operates 8 manufacturing plants globally, showcasing its extensive reach and production capabilities.- Flcube.com
