3SBio Inc. (HKG: 1530), a leading China-based biopharmaceutical company, has reported its 2023 financial results, achieving revenues of RMB 7.816 billion (USD 1.09 billion), reflecting a year-on-year (YOY) growth of 13.8%. Net profits rose to RMB 1.952 billion (USD 271 million), an increase of 17.7% YOY.
The company’s core biologic drugs demonstrated strong performance, with recombinant human thrombopoietin (rhTPO) generating sales of RMB 4.205 billion (USD 584 million), marking a 23.8% YOY increase and reaffirmation of its National Reimbursement Drug List (NRDL) status. The two forms of recombinant human erythropoietin (rhEPO)—EPIAO and SEPO—achieved sales of RMB 940 million (USD 131 million). Yisaipu, a biosimilar of etanercept for treating rheumatoid arthritis and other conditions, contributed RMB 565 million (USD 79 million), up 10.5% YOY. Additionally, Cipterbin (inetetamab), an anti-HER2 monoclonal antibody for metastatic breast cancer, saw sales rise by 41.8% YOY to RMB 226 million (USD 31.4 million).
Sales from minoxidil, an over-the-counter treatment for hair loss, reached RMB 1.124 billion (USD 156 million), up 25.8% YOY. The company’s Contract Development and Manufacturing Organization (CDMO) segment also saw growth, generating RMB 174 million in revenues, a 4.9% YOY increase, while providing services worth a total of RMB 200 million (USD 28 million) to prominent pharmaceutical and biotech firms.
3SBio’s R&D pipeline remains robust, with 29 products in development, including 12 candidates in Phase III or New Drug Application (NDA) stages. Recent approvals in China include Yisaipu pre-filled injection and nalfurafine orally disintegrating tablets. The long-acting erythropoietin (SSS06) is set for NDA filing this year after meeting endpoints in a Phase III study. The autoimmune pipeline is also advancing, with a Phase III trial for the anti-IL-17A antibody (608) in plaque psoriasis on track for market approval in 2024.
Nofazinlimab, a PD-1 inhibitor co-developed with CStone Pharma, is currently in Phase III trials, while Winlevi (clascoterone), an acne treatment co-developed with Cosmo, has been approved for a bridging study in China.- Flcube.com
