{"id":20820,"date":"2023-03-16T21:37:00","date_gmt":"2023-03-16T13:37:00","guid":{"rendered":"https:\/\/flcube.com\/?p=20820"},"modified":"2025-01-07T21:39:57","modified_gmt":"2025-01-07T13:39:57","slug":"cstone-pharmaceuticals-reports-97-54-revenue-growth-in-2022-driven-by-drug-sales-and-licensing-fees","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=20820","title":{"rendered":"CStone Pharmaceuticals Reports 97.54% Revenue Growth in 2022, Driven by Drug Sales and Licensing Fees"},"content":{"rendered":"\n

China-based CStone Pharmaceuticals (HKG: 2616<\/a>) released its 2022 financial report, recording total revenues of RMB 481.4 million (USD 69.78 million), marking a 97.54% year-on-year (YOY) increase. This growth was primarily driven by drug sales and licensing fees for Cejemly (sugemalimab). Commercial revenues reached RMB 394.1 million (USD 57.1 million), up 142% YOY, with drug sales contributing RMB 364.3 million (USD 52.7 million).<\/p>\n\n\n\n

Drug Sales and Approvals<\/strong>
The company’s drug sales were bolstered by Gavreto (pralsetinib), Ayvakit (avapritinib), and Tibsovo (ivosidenib). During 2022, sugemalimab and ivosidenib obtained market approvals for treating Stage III non-small cell lung cancer (NSCLC) and recurrent or refractory acute myeloid leukemia (R\/R AML) with isocitrate dehydrogenase 1 (IDH1) mutation, respectively. Avapritinib also gained market nods for advanced or metastatic RET mutant medullary thyroid carcinoma (MTC) and RET fusion-positive thyroid carcinoma (TC) in mainland China, RET fusion-positive NSCLC in Hong Kong, and RET fusion-positive NSCLC, RET mutant MTC, and RET fusion-positive TC in Taiwan.<\/p>\n\n\n\n

R&D Expenditure and Partnerships<\/strong>
Research and development (R&D) expenditures totaled RMB 614.2 million (USD 89 million), a significant decrease from RMB 1.305 billion (USD 189 million) in 2021, due to reduced milestone payments and lower third-party compliance and employee costs. CStone struck a partnership with Blueprint Medicines in 2018, securing exclusive development and commercialization rights to Gavreto and avapritinib in Greater China. The company filed a technology transfer filing for avapritinib in 2022, with the technology transfer of pralsetinib proceeding smoothly. Roche is responsible for the manufacturing and supply of pralsetinib before completing the technology transfer.<\/p>\n\n\n\n

Focus on Precision Medicine<\/strong>
CStone is doubling down on the precision medicine field, with its sales team covering 800 hospitals in 180 cities, accounting for 75%-80% of the precision medicine market. The company has also partnered with gene sequencing firms and the national pathology quality control center (PQCC) to further strengthen its position in this sector.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China-based CStone Pharmaceuticals (HKG: 2616) released its 2022 financial report, recording total revenues of RMB…<\/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],"tags":[30,188,27,856],"class_list":["post-20820","post","type-post","status-publish","format-standard","hentry","category-company","tag-biotech","tag-cstone-pharmaceuticals","tag-finanical-reports","tag-hkg-2616"],"yoast_head":"\nCStone Pharmaceuticals Reports 97.54% Revenue Growth in 2022, Driven by Drug Sales and Licensing Fees - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based CStone Pharmaceuticals (HKG: 2616) released its 2022 financial report, recording total revenues of RMB 481.4 million (USD 69.78 million), marking a 97.54% year-on-year (YOY) increase. 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