Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) has announced its financial results for 2023, reporting a 7.7% year-on-year (YOY) increase in revenues to RMB 10.104 billion (USD 1.4 billion). The Chinese pharmaceutical company’s net profits reached RMB 3.278 billion (USD 453.7 million), marking a 26.9% YOY growth. Research and development (R&D) spending soared to RMB 2.097 billion (USD 290.2 million), which is a 26.9% increase and represents 20.8% of the company’s annual revenues.
Revenues from innovative drugs and partnered products surged 37.1% YOY to RMB 6.865 billion, contributing 67.9% of total revenues. Oncology sales led the way with RMB 6.169 billion, accounting for 61.0% of total sales, followed by anti-infectives, central nervous system (CNS), and metabolic disease drugs.
In June, Hansoh received marketing approval in China for its Category 1 product, phenylheptal peptide, the world’s only erythropoietin (EPO) treatment. To date, the company has secured 7 innovative drug approvals, all of which are included in the National Reimbursement Drug List (NRDL). Additionally, 10 drugs have been filed or approved for clinical trials, bringing the total to 23. Hansoh is currently conducting over 50 clinical trials for more than 30 innovative drugs.
Throughout the year, Hansoh entered into several licensing agreements with pharmaceutical companies, including a deal with UK-based GSK for overseas rights to its antibody drug conjugates (ADCs) HS-20089 and HS-20093, and a partnership with Antengene Corp., Ltd (HK.6996) for the latter’s XPO1 inhibitor Xpovio (selinexor).- Flcube.com
