Shanghai Henlius Biotech Inc., (HKG: 2696) has released its financial results for 2023, reporting revenues of RMB 5.395 billion (USD 749 million), marking a 67.8% year-on-year (YOY) increase. The company achieved its first profitable full year with net profits reaching RMB 546 million (USD 76 million).
The strong financial performance was attributed to the robust commercialization of Henlius’s products in China. The company has launched five products domestically and two overseas, securing a total of 19 indication approvals for its portfolio. Product revenues soared to RMB 4.554 billion (USD 623 million), reflecting a 70.2% YOY increase.
Henlius’s biosimilar trastuzumab, Hanquyou (HLX02), which mimics Roche’s Herceptin for breast and stomach cancer, anti-PD-1 monoclonal antibody HanSiZhuang (serplulimab), and bevacizumab biosimilar Hanbeitai were significant revenue drivers, contributing RMB 2.737 billion, RMB 1.1198 billion, and RMB 119.4 million respectively. Sales royalties from partnership agreements for Hanlikang (rituximab) and HanDaYuan (adalimumab) added RMB 540.5 million and RMB 58.6 million to the top line.
The company also ramped up its global market presence through strategic collaborations, earning RMB 841.4 million in 2023 through licensing deals, an increase of 56.0% YOY. Henlius signed agreements with Boston Oncology, KGbio, and Intas for Hanlikang, HanSiZhuang, and HanSiZhuang respectively.
Furthermore, Henlius has over 50 marketing filings under review in various regions including China, the European Union, the United States, Canada, Singapore, and Thailand. The company invested RMB 1.4336 billion in research and development last year, demonstrating its commitment to innovation and expansion.- Flcube.com
