Chinese biopharmaceutical company Innovent Biologics Inc., (HKG: 1801) has reported impressive quarterly sales figures, announcing over RMB 1.6 billion (USD 219 million) in product sales for Q4 2023, marking a 65% year-on-year (YOY) increase.
In the final quarter of the year, Innovent’s PD-1 inhibitor, Tyvyt (sintilimab injection), maintained strong market performance, with a notable increase in demand for the company’s other products as well. Tyvyt received approval for its seventh indication, and the biosimilar version of bevacizumab gained its eighth indication, both being included in the National Reimbursement Drug List (NRDL) effective from January 1, 2024. This inclusion is expected to broaden patient access to these treatments. Additionally, olverembatinib, a therapy for chronic myeloid leukemia (CML), secured a new indication to benefit CML patients further. Two additional cancer therapies, IBI-344 (a ROS1 inhibitor) and IBI-351 (a KRAS G12C inhibitor), were granted priority review statuses, highlighting Innovent’s commitment to advancing oncology treatments.- Flcube.com
