Shanghai Junshi Biosciences Co., Ltd (HKG: 1877; SHA: 688180), a biopharmaceutical company based in China, has released its financial forecast for 2023. The company anticipates generating RMB 1.541 billion in revenues, marking a 6.02% year-on-year (YOY) increase. Junshi Biosciences’ research and development expenses for the period are estimated at RMB 1.964 billion, a decrease of 17.63% YOY. The company reported a net loss of RMB 225 million, which represents a 5.78% reduction YOY.
The growth during the period was primarily fueled by increased sales of the company’s commercialized products. These include the programmed death-1 (PD-1) inhibitor Loqtorzi (toripalimab), JunMaiKang, a biosimilar version of AbbVie’s auto-immune disease drug Humira (adalimumab) co-developed with Mabwell, and the COVID-19 therapy Mindewei (deuremidevir). Loqtorzi saw three new indications added to the National Reimbursement Drug List (NRDL), a move that also encompassed Mindewei. Furthermore, Junshi received upfront and milestone payments as per agreements with Dr. Reddy’s Laboratories Ltd and Rxilient Biotech Pte. Ltd. in relation to Loqtorzi, which has been approved for marketing in the United States.- Flcube.com
