{"id":25338,"date":"2022-09-29T13:13:00","date_gmt":"2022-09-29T05:13:00","guid":{"rendered":"https:\/\/flcube.com\/?p=25338"},"modified":"2025-02-04T13:18:19","modified_gmt":"2025-02-04T05:18:19","slug":"luye-pharma-reports-decline-in-h1-revenue-and-profits-amid-market-challenges","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=25338","title":{"rendered":"Luye Pharma Reports Decline in H1 Revenue and Profits Amid Market Challenges"},"content":{"rendered":"\n<p>China-based Luye Pharma Group (<a href=\"https:\/\/www.google.com\/finance\/quote\/2186:HKG\">HKG: 2186<\/a>) has released its 2022 interim report, recording RMB 2.85 billion ($395 million) in revenue during the first half of this year, down 3.4% year-on-year (YOY). Net profits fell 23% YOY to RMB 297 million ($41.1 million). The results reflect ongoing market challenges and policy impacts on the company&#8217;s performance.<\/p>\n\n\n\n<p><strong>Product Revenues<\/strong><br>Luye Pharma&#8217;s major products, including paclitaxel liposomes, glycididazole, bevacizumab, Xue Zhi Kang, aescin, acarbose, rivastigmine, quetiapine, and risperidone, continue to hold strong market positions globally. However, revenue performance varied across therapeutic areas:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cardiovascular system products generated RMB 787.1 million ($109 million), down 1.7% YOY.<\/li>\n\n\n\n<li>Digestive and metabolic products brought in RMB 322.74 million ($44.7 million), down 29.6% YOY.<\/li>\n\n\n\n<li>Oncology products saw an increase of 10.6% YOY, generating RMB 1.025 billion ($142.1 million).<\/li>\n\n\n\n<li>Nervous system products generated RMB 651.7 million ($90.3 million), down 6.1% YOY.<\/li>\n<\/ul>\n\n\n\n<p><strong>R&amp;D Progress<\/strong><br>Despite the revenue decline, Luye Pharma has made significant progress in R&amp;D. As of June 30, 2022, the group had 32 products under development in China, including 13 oncology products, 12 central nervous system (CNS) products, and 7 other products. Additionally, 13 products are being developed in the US, Europe, and Japan.<br>Key R&amp;D milestones include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Market filing for oxycodone and naloxone accepted for review by the National Medical Products Administration (NMPA) in January 2022.<\/li>\n\n\n\n<li>LY01017, a PharmaMar-licensed product for small cell lung cancer (SCLC), was used as a clinically urgent drug in Boao Lecheng in July 2022.<\/li>\n\n\n\n<li>In-house developed Category 1 drug LY03005 for generalized anxiety disorder saw its market filing accepted for review by the NMPA in June 2022.<\/li>\n\n\n\n<li>Rivastigmine transdermal patch (twice per week) awaits regulatory decision in China after being approved in multiple European locations in 2021.<\/li>\n\n\n\n<li>Category 1 painkiller LPM3480392 concluded Phase I clinical study in May 2022.<\/li>\n\n\n\n<li>Phase III studies for rotigotine extended-release microspheres (LY03003) in Parkinson&#8217;s disease (PD) and goserelin acetate sustained-release injectable microspheres (LY01005) in breast cancer reached pre-set endpoints in July 2022.<\/li>\n\n\n\n<li>Dulaglutide is undergoing Phase III clinical trials in China.<\/li>\n<\/ul>\n\n\n\n<p>R&amp;D expenses increased by 31.5% to RMB 379.3 million ($52.6 million).<\/p>\n\n\n\n<p><strong>Industrial Policy Risks<\/strong><br>The National Reimbursement Drug List (NRDL) and volume-based procurement (VBP) have significantly impacted Luye Pharma&#8217;s pricing and market access. Paclitaxel liposomes entered the NRDL in 2020 with a 67% price cut. Acarbose participated in the second VBP round, resulting in a 60% price cut. Quetiapine did not win a place in the third and fourth VBP rounds. No products were shortlisted in the fifth to seventh VBP rounds.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China-based Luye Pharma Group (HKG: 2186) has released its 2022 interim report, recording RMB 2.85&#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],"tags":[91,27,1023,219],"class_list":["post-25338","post","type-post","status-publish","format-standard","hentry","category-company","tag-boao-lecheng-pilot-zone","tag-finanical-reports","tag-hkg-2186","tag-luye-pharma"],"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>Luye Pharma Reports Decline in H1 Revenue and Profits Amid Market Challenges - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Luye Pharma Group (HKG: 2186) has released its 2022 interim report, recording RMB 2.85 billion ($395 million) in revenue during the first half of this year, down 3.4% year-on-year (YOY). Net profits fell 23% YOY to RMB 297 million ($41.1 million). The results reflect ongoing market challenges and policy impacts on the company&#039;s performance.\" \/>\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=25338\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luye Pharma Reports Decline in H1 Revenue and Profits Amid Market Challenges\" \/>\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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