{"id":19204,"date":"2023-04-28T20:19:00","date_gmt":"2023-04-28T12:19:00","guid":{"rendered":"https:\/\/flcube.com\/?p=19204"},"modified":"2024-12-21T20:28:51","modified_gmt":"2024-12-21T12:28:51","slug":"q1-2023-financial-report-astrazeneca-leads-innovation-in-china-sanofis-sales-in-china-decline","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=19204","title":{"rendered":"Q1 2023 financial report: AstraZeneca leads innovation in China, Sanofi&#8217;s sales in China decline"},"content":{"rendered":"\n<p>Several multinational companies (MNCs) have released their Q1 2023 financials, showing a varied performance over the quarter.<\/p>\n\n\n\n<p><strong>AstraZeneca\u2019s China Innovation Boom<\/strong><br>AstraZeneca (AZ, <a href=\"https:\/\/www.google.com\/finance\/quote\/AZN:NASDAQ\">NASDAQ: AZN<\/a>) CEO Pascal Soriot warned that Europe is lagging behind China in fostering innovation and access to medicines. This statement came during the company\u2019s Q1 2023 earnings call in response to recent drug regulatory reforms by the European Commission (EC). While it&#8217;s early to judge the legislation, which will take at least two years to finalize, Soriot criticized the potential legislation as detrimental to Europe&#8217;s life sciences sector. He noted that China is surpassing Europe in clinical trials and biotech innovation, becoming an attractive destination for investment. AstraZeneca\u2019s oncology head, Susan Galbraith, highlighted recent partnerships in China, including with Cellular Biomedicine Group (CBMG) for cell therapies, and deals with Harbour Biomed and Lepu Biopharma Co., Ltd (2157.HK), focusing on bispecific antibodies and ADCs targeting CLDN18.2. AstraZeneca\u2019s Q1 2023 report showed stable revenues of USD 10.879 billion, with an 8% growth in China sales, excluding COVID-19 vaccine sales.<\/p>\n\n\n\n<p><strong>Sanofi&#8217;s China Sales Decline<\/strong><br>Sanofi (<a href=\"https:\/\/www.google.com\/finance\/quote\/SNY:NASDAQ\">NASDAQ: SNY<\/a>) reported Q1 sales of EUR 10.2 billion (USD 11.3 billion), up 5.5% year-on-year, driven by rare diseases and the top-selling Dupixent (dupilumab). Sanofi\u2019s CEO, Paul Hudson, highlighted the potential of the T1D biologic Tzield (teplizumab) from the acquisition of Provention Bio (NASDAQ: PRVB). However, China sales dropped by 14% to EUR 755 million due to COVID-19 restrictions and price cuts on legacy products. Despite this, Sanofi\u2019s Dupixent, Praluent (alirocumab), and vaccines performed strongly in China.<\/p>\n\n\n\n<p><strong>Bristol-Myers Squibb (BMS) CEO Transition<\/strong><br>Bristol-Myers Squibb (BMS; <a href=\"https:\/\/www.google.com\/finance\/quote\/BMY:NYSE\">NYSE: BMY<\/a>) reported a 3% YOY decline in turnover to USD 11.3 billion, affected by generic competition for Revlimid (lenalidomide). CEO Giovanni Caforio, who announced his retirement effective November 1, will hand over leadership to CCO Chris Boerner. BMS\u2019s US sales grew by 4%, but international sales dropped by 16%.<\/p>\n\n\n\n<p><strong>AbbVie\u2019s Global Sales Dip<\/strong><br>AbbVie (<a href=\"https:\/\/www.google.com\/finance\/quote\/ABBV:NYSE\">NYSE: ABBV<\/a>) experienced an 8.3% YOY decrease in global sales to USD 12.2 billion. The company\u2019s Neuroscience and Other Key Products units saw growth, but Immunology, Hematologic Oncology, Aesthetics, and Eye Care sales declined. US sales fell by 11.1%, while international sales grew by 0.9%, with Aesthetics recovering faster than expected in China.<\/p>\n\n\n\n<p><strong>MSD Reports 5% Q1 Decline<\/strong><br>Merck, Sharp &amp; Dohme (MSD; <a href=\"https:\/\/www.google.com\/finance\/quote\/MRK:NYSE\">NYSE: MRK<\/a>) reported a 5% downturn in Q1 sales to USD 14.5 billion. The company\u2019s COVID-19 treatment Lagevrio (molnupiravir) and diabetes drugs Januvia and Janumet saw significant sales drops. However, Keytruda (pembrolizumab), Bridion (sugammadex), Rotateq, and the HPV Gardasil vaccine family reported strong growth, particularly in China.<a href=\"https:\/\/flcube.com\">-Fineline Info &amp; Tech<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several multinational companies (MNCs) have released their Q1 2023 financials, showing a varied performance over&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,11],"tags":[234,130,770,429,428,20,27,120,2675,176,871,867,853,849,903,2877,147],"class_list":["post-19204","post","type-post","status-publish","format-standard","hentry","category-company","category-drug","tag-abbvie","tag-astrazeneca","tag-az","tag-bms","tag-bristol-myers-squibb","tag-finance","tag-finanical-reports","tag-merck","tag-merck-sharp-dohme","tag-msd","tag-nasdaq-azn","tag-nasdaq-sny","tag-nyse-abbv","tag-nyse-bmy","tag-nyse-mrk","tag-provention-bio","tag-sanofi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Q1 2023 financial report: AstraZeneca leads innovation in China, Sanofi&#039;s sales in China decline - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"AstraZeneca (AZ, NASDAQ: AZN) CEO Pascal Soriot warned that Europe is lagging behind China in fostering innovation and access to medicines. This statement came during the company\u2019s Q1 2023 earnings call in response to recent drug regulatory reforms by the European Commission (EC). While it&#039;s early to judge the legislation, which will take at least two years to finalize, Soriot criticized the potential legislation as detrimental to Europe&#039;s life sciences sector. He noted that China is surpassing Europe in clinical trials and biotech innovation, becoming an attractive destination for investment. AstraZeneca\u2019s oncology head, Susan Galbraith, highlighted recent partnerships in China, including with Cellular Biomedicine Group (CBMG) for cell therapies, and deals with Harbour Biomed and Lepu Biopharma Co., Ltd (2157.HK), focusing on bispecific antibodies and ADCs targeting CLDN18.2. AstraZeneca\u2019s Q1 2023 report showed stable revenues of USD 10.879 billion, with an 8% growth in China sales, excluding COVID-19 vaccine sales.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flcube.com\/?p=19204\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q1 2023 financial report: AstraZeneca leads innovation in China, Sanofi&#039;s sales in China decline\" \/>\n<meta property=\"og:description\" content=\"Navigate the complexities of China\u2019s pharmaceutical industry with precision and clarity. FLCUBE delivers reliable data, news, and intelligence to broaden your horizons and sharpen your decision-making. 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This statement came during the company\u2019s Q1 2023 earnings call in response to recent drug regulatory reforms by the European Commission (EC). While it's early to judge the legislation, which will take at least two years to finalize, Soriot criticized the potential legislation as detrimental to Europe's life sciences sector. He noted that China is surpassing Europe in clinical trials and biotech innovation, becoming an attractive destination for investment. AstraZeneca\u2019s oncology head, Susan Galbraith, highlighted recent partnerships in China, including with Cellular Biomedicine Group (CBMG) for cell therapies, and deals with Harbour Biomed and Lepu Biopharma Co., Ltd (2157.HK), focusing on bispecific antibodies and ADCs targeting CLDN18.2. 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This statement came during the company\u2019s Q1 2023 earnings call in response to recent drug regulatory reforms by the European Commission (EC). While it's early to judge the legislation, which will take at least two years to finalize, Soriot criticized the potential legislation as detrimental to Europe's life sciences sector. He noted that China is surpassing Europe in clinical trials and biotech innovation, becoming an attractive destination for investment. AstraZeneca\u2019s oncology head, Susan Galbraith, highlighted recent partnerships in China, including with Cellular Biomedicine Group (CBMG) for cell therapies, and deals with Harbour Biomed and Lepu Biopharma Co., Ltd (2157.HK), focusing on bispecific antibodies and ADCs targeting CLDN18.2. 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