Simcere Pharmaceutical Group (HKG: 2096), based in China, has released its 2023 financial performance report, revealing revenues of RMB 6.6 billion (USD 920 million) for the year, marking a 4.5% increase year-on-year (YOY). Within this total, drug sales and promotion services contributed RMB 6.567 billion, while out-licensing and research and development (R&D) services generated RMB 28 million and RMB 13 million, respectively. The profits attributable to equity shareholders fell to RMB 715 million (USD 99.3 million), a decrease of 23.2% YOY.
Focusing on neurology, autoimmune diseases, oncology, and anti-infection, Simcere currently markets six commercial drugs. Its innovative drug segment reported revenues of RMB 4.756 billion, accounting for 72.0% of total revenues and reflecting a 15.2% increase YOY. R&D expenses were RMB 1.563 billion, a decline of 9.6% YOY, representing 23.7% of total revenues.
Revenue from the nervous system sector reached RMB 1.969 billion, down 13.1% and comprising 29.8% of total revenue. The drug Edaravone, borneol, has shown strong uptake, reaching 1.07 million patients across 5,000 medical institutions, with its sublingual tablet version accepted for approval review in June 2023.
Simcere is also expanding its oncology portfolio, particularly in lung cancer, gastrointestinal tumors, and gynecological tumors, generating approximately RMB 1.576 billion in annual revenue, up 10.2% and accounting for 23.9% of total revenue. The drug Cosela (trilaciclib) received regular approval in China in October 2023 after its commercialization during the reporting period.
In the autoimmune sector, revenue reached RMB 1.415 billion, a 10.5% increase, representing 21.4% of total revenue, with Iremod (iguratimod) seeing 21% growth in sales. Other fields contributed RMB 1.648 billion, up 22.3%, largely due to the rapid uptake of small-molecule COVID-19 therapy Xiannuoxin (simnotrelvir, ritonavir), which has benefited 670,000 patients since its conditional approval in January 2023.
As of December 31, 2023, Simcere boasts over 40 products on the National Reimbursement Drug List (NRDL), nearly 60 investigational programs, and 15 new molecules in regulatory studies.- Flcube.com
