Innovent Biologics Inc. (HKG: 1801), a leading biopharmaceutical company in China, has reported a significant surge in product sales for the second quarter of 2024, exceeding RMB 2 billion (USD 279 million), marking a 50% year-on-year (YOY) increase. The company’s strong market presence in China is attributed to its extensive product portfolio and extensive coverage on the National Reimbursement Drug List, which facilitates broad access through various channels.
During the quarter, Innovent’s PD-1 inhibitor, Tyvyt (sintilimab injection), demonstrated continued strong market performance, contributing significantly to the sales growth. Additionally, there was a notable increase in demand for the company’s other products, indicating a diversified product impact on the market.
As of the latest report, Innovent has an impressive pipeline with 10 products already approved for marketing. The company has 4 more products under review by the Center for Drug Evaluation (CDE) in China, 4 in Phase III or pivotal clinical stages, and 18 in clinical trials, showcasing its robust development capabilities and commitment to bringing innovative treatments to market.- Flcube.com
