{"id":13382,"date":"2023-09-27T23:10:00","date_gmt":"2023-09-27T15:10:00","guid":{"rendered":"https:\/\/flcube.com\/?p=13382"},"modified":"2024-11-18T23:12:42","modified_gmt":"2024-11-18T15:12:42","slug":"sihuan-pharmaceutical-reports-h1-2023-revenue-dip-amid-rd-focus","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=13382","title":{"rendered":"Sihuan Pharmaceutical Reports H1 2023 Revenue Dip Amid R&D Focus"},"content":{"rendered":"\n

Sihuan Pharmaceutical Holdings Group Ltd (HKG: 0460<\/a>) has released its financial report for the first half of 2023, recording revenues of RMB 1.0557 billion (USD 144 million), marking a 27.9% decrease year-on-year (YOY). The research and development (R&D) expenses for the period were RMB 294 million (USD 40 million), a 35.7% decrease YOY, attributed to the completion of Phase III clinical studies for several in-house developed products.<\/p>\n\n\n\n

Revenue Contributions and Sector Performance<\/strong>
Subsidiaries Huisheng Pharm and Xuanzhu Biopharm, along with the medical aesthetics platform Meiyoung, contributed to the total revenues. The medical aesthetics sector stood out, generating RMB 194 million, a 96.8% increase YOY, driven by product uptake and an expanded market share. In contrast, the generics segment reported a decline, with revenues of RMB 845.7 million, down 31.4% YOY, due to volume-based procurement (VBP) price reductions and the inclusion of some products in key monitoring drug lists. Novel drugs and other products saw a significant decrease in revenue, bringing in RMB 16 million, down 87.9% YOY, primarily due to the spin-off of some API units at the end of 2022.<\/p>\n\n\n\n

Strategic Investments and Pipeline Developments<\/strong>
During the period, Huisheng Pharm secured a RMB 580 million Series A+ financing round and made market filings for insulin degludec and insulin aspart, along with a clinical trial filing for semaglutide in China. Xuanzhu Biopharm made significant strides with its antibody drug conjugate (ADC) XZP-KM501, which received a clinical trial nod for solid tumors with medium-to-low HER2 expression. Additionally, the CD80 fusion protein XZP-KM602 and DNA-PK inhibitor XZP-6877 obtained clinical approval for the treatment of advanced solid tumors. The CDK4\/6 inhibitor birociclib reached endpoints in a Phase III study for HR+\/HER2- advanced breast cancer.-Fineline Info & Tech<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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