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China Grand Pharmaceutical Reports Robust 2023 Revenues and Pipeline Advancements
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China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512; CGP) has reported its financial results for 2023, with revenues reaching HKD 10.53 billion (USD 1.35 billion), marking a 15.8% year-on-year increase. The net profit stood at HKD 2.04 billion (USD 260.8 million), up by a modest 0.2% year-on-year. The company…
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WuXi AppTec Posts Modest Revenue Growth Despite Regulatory Hurdles
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WuXi AppTec (HKG: 2359), a China-based Contract Research Organization (CRO), has released its financial results for 2023, reporting an annual operating revenue of RMB 40.34 billion (USD 5.6 billion), representing a year-on-year (YOY) increase of 2.5%. When excluding COVID-19-related commercial projects, sales experienced a substantial growth of 25.6%. The net…
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Akeso Biopharma Reports Record Revenue and First Profit, Driven by Innovative Drugs
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Akeso Biopharma (HKG: 9926) has announced its financial results for 2023, reporting a record revenue of RMB 4.526 billion (USD 629 million), marking a staggering 440% year-on-year increase. The company, based in China, posted its first annual profit with net earnings reaching RMB 1.942 billion (USD 269.7 million). Innovative drugs…
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Legend Biotech Reports Q4 and Full-Year 2023 Financials with Focus on Carvykti Milestones
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Legend Biotech Corporation (NASDAQ: LEGN) has released its financial results for the fourth quarter and full year of 2023, along with key business highlights. The company reported licensing income of USD 35.2 million and cooperation income of USD 249.8 million, primarily attributed to milestone payments related to the Carvykti (ciltacabtagene…
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Merck’s 2023 Annual Report: A Mixed Bag Amid Global Challenges
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Merck KGaA (ETR: MRK), a leading German chemical, reported a 5.6% decline in its global net sales for the fiscal year 2023, amounting to €21.0 billion ($23.0 billion). This contraction was partially attributed to the adverse impact of foreign exchange rates. The company’s Healthcare division, however, posted a 2.7% increase…
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Lundbeck A/S Posts 8.2% YOY Revenue Growth in 2023 with Strong Performance Across Key Therapies
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Danish pharmaceutical company Lundbeck A/S (FRA: LDBB) has announced its financial results for 2023, highlighting an 8.2% year-on-year (YOY) increase in revenue to DKK 19.912 billion (USD 2.88 billion). The company is now under the leadership of CEO Charl van Zyl, who took over from Deborah Dunsire in October 2023.…
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Bayer Posts 1.2% YOY Sales Decline in 2023 with Pharmaceuticals and Consumer Health Segment Updates
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Germany’s Bayer (ETR: BAYN) has released its financial results for 2023, marking a year of declining sales that culminated in a 1.2% year-on-year (YOY) drop in constant currency and portfolio-adjusted terms, reaching €47.6 billion (USD 51.7 billion). The Pharmaceuticals segment generated €18.1 billion (USD 19.6 billion) with a 0.4% decline…
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Henlius Biotech Forecasts First-Ever Profit in 2023 Driven by Sales Growth and Efficient Management
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Shanghai Henlius Biotech Inc., (HKG: 2696), a China-based biopharmaceutical company, has released a positive profit forecast, anticipating a minimum profit of RMB 500 million (USD 72.4 million) in 2023, marking the company’s first profitable year. This forecast is attributed to the sustained sales growth of its products Hanquyou (trastuzumab injection,…
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MicroPort CardioFlow Forecasts 31%-36% YOY Sales Growth for 2023 Driven by TAVI Product Expansion
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MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), a spin-off from China-based MicroPort Scientific Corp (HKG: 0853), has announced a forecast for its 2023 financial performance along with key business updates. The company anticipates generating sales within the range of RMB 330 million to RMB 340 million for the year, reflecting…
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HutchMed’s 2023 Financials Show 102% YOY Revenue Growth and Robust Collaboration with Takeda
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HutchMed (HKG: 0013, NASDAQ: HCM), a China-based biopharmaceutical company, has released its financial report for 2023, recording a significant increase in revenue to USD 838 million, marking a 102% year-on-year growth calculated on a constant currency basis. The company’s net profits reached USD 101 million, attributed to its collaboration with…
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Viatris Eyes Growth After Concluding Initial Phase of Strategy with 2023 Sales at $15.4 Billion
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US generics giant Viatris (NASDAQ: VTRS) reported a 4% year-on-year decline in global sales to USD 15.4 billion in constant currency terms, as detailed in the company’s 2023 financial report. Despite the dip, company president Rajiv Malik declared the completion of the first phase of Viatris’s strategic plan, with the…
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Zai Lab Ltd Reports 31% YOY Growth in Product Revenues and Strategic Pipeline Expansion
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Zai Lab Ltd (NASDAQ: ZLAB; HKG: 9688), a China-based biopharmaceutical company, has released its financial results for 2023, along with updates on product highlights and corporate developments. The company reported total product revenues of USD 266.7 million for the year, marking a 31% year-on-year growth at constant exchange rates. This…
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BeiGene Reports Record Revenues and Rapid Growth in Q4 and Full Year 2023 with Continued Expansion
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BeiGene (NASDAQ: BGNE), a China-based biopharmaceutical company, has presented its financial results for the fourth quarter and full year of 2023, along with key business highlights. The company reported continued rapid global growth, with record total revenues reaching USD 634 million in the fourth quarter and USD 2.5 billion for…
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Organon Reports Q4 2023 Revenue Growth Driven by Women’s Health and Biosimilars
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Organon (NYSE: OGN), the U.S.-based pharmaceutical company, has reported its fourth-quarter 2023 financial results, revealing a 3% year-on-year increase in global revenues, reaching USD 6.3 billion in constant currencies. The company’s performance showed marked improvement, with Q4 revenues climbing 8% year-on-year to USD 1.6 billion. Breaking down Q4 performance by…
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AstraZeneca Reports 6% Revenue Growth in 2023, Driven by Oncology and Diabetes Drug Sales
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AstraZeneca (AZ; NASDAQ: AZN), the UK-based multinational, reported its financial results for 2023 this week, revealing a 6% year-on-year increase in annual global revenues, reaching USD 45.8 billion at constant exchange rates. Oncology revenue surged by 21%, while cardiovascular, renal, and metabolism (CVRM) sales rose 18%. Respiratory and immunology (R&I)…
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Gilead’s 2023 Flat Sales Reflect Stagnation and COVID-19 Demand Decline
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Gilead Sciences Inc. (NASDAQ: GILD) has reported a stagnant performance for the year 2023, with total product sales remaining unchanged at USD 26.9 billion. Amid a broad decline in demand for COVID-19 treatments, the company’s antiviral Veklury (remdesivir) sales could not offset the downturn, although HIV sales increased by 6%…
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Astellas Pharma Inc. Reports 2.1% YOY Growth in Q1-Q3 Fiscal 2023 Revenues
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Tokyo-based pharmaceutical company Astellas Pharma Inc., (TYO: 4503) has announced financial results for the first three quarters of its fiscal year 2023, ending December 31, 2023. The corporation reported a year-on-year (YOY) increase of 2.1% in global revenues, reaching JPY 1,189 billion (USD 8 billion) over the nine-month period. Astellas’…
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Gilead’s 2023 Stagnation Foresees Flat 2024 Sales as Veklury Revenues Dwindle
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Gilead Sciences (NASDAQ: GILD) has reported a stagnant performance for 2023, with product sales remaining flat at USD 26.9 billion. The company’s financials were affected by a widespread downturn in demand for COVID-19 treatments, as its antiviral Veklury (remdesivir) sales offset growth in other areas. HIV sales reached USD 18.2…
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Amgen’s Q4 2023 Results Showcase 9% YOY Growth, 18 Drugs Hit Record Sales
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Biopharmaceutical giant Amgen (NASDAQ: AMGN) has reported its financial results for Q4 2023, announcing annual sales of USD 26.9 billion, reflecting a substantial 9% year-on-year (YOY) increase, primarily driven by volume growth. In an earnings call, CEO Robert Bradway highlighted that a remarkable 18 of the company’s medicines achieved record…
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Eli Lilly’s 2023 Revenue Soars on Metabolism Drugs, Anticipates Further Growth in 2024
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Eli Lilly and Company (NYSE: LLY) reported a robust 2023 financial performance with a 20% year-on-year (YOY) increase in revenue, reaching USD 34.1 billion, as detailed in their Q4 2023 report released this week. This growth was substantially driven by the company’s metabolism drugs, indicating a recovery from the COVID-19…
