{"id":25352,"date":"2022-09-29T14:00:00","date_gmt":"2022-09-29T06:00:00","guid":{"rendered":"https:\/\/flcube.com\/?p=25352"},"modified":"2025-02-04T14:03:08","modified_gmt":"2025-02-04T06:03:08","slug":"innovent-biologics-reports-15-3-revenue-growth-in-2022-interim-results","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=25352","title":{"rendered":"Innovent Biologics Reports 15.3% Revenue Growth in 2022 Interim Results"},"content":{"rendered":"\n

China-based Innovent Biologics, Inc. (HKG: 1801<\/a>) has released its 2022 interim report, recording RMB 2.24 billion ($311.2 million) in revenue during the first half of this year, up 15.3% year-on-year (YOY). Product sales increased 10% YOY to RMB 2.04 billion ($283.4 million), driven by Tyvyt (sintilimab), a programmed death-1 (PD-1) inhibitor included in the National Reimbursement Drug List (NRDL), and contributions from new products. However, disruptions caused by COVID-19 in the second quarter impacted the growth rate of some products in the relevant cities and regions.<\/p>\n\n\n\n

R&D Expenditure<\/strong>
During the period, Innovent spent RMB 1.07 billion ($148.6 million) on research and development (R&D), up 22.5% YOY. This increase was primarily due to clinical studies for late-stage products and priority products, indication expansion for existing products, and pre-clinical development of novel drugs.<\/p>\n\n\n\n

Regulatory and Commercial Milestones<\/strong>
The anti-tumor drug Cyramza (ramucirumab) was approved for marketing in China during the period, marking the company\u2019s 7th commercialized product. Additionally, sintilimab gained approvals in first-line ESCC and first-line GC. Pemazyre (pemigatinib) obtained approvals in mainland China and Hong Kong, and Bevagen (bevacizumab), a biosimilar version of Avastin, was approved in Indonesia. The RET inhibitor Retevmo (selpercatinib) is expected to receive a market nod during the second half of this year.<\/p>\n\n\n\n

Partnerships and Future Outlook<\/strong>
Innovent and its US partner Eli Lilly expanded their cooperation scope in March this year. Innovent gained exclusive commercialization rights to both Cyramza and Retevmo in mainland China, along with the first option to negotiate similar rights to Lilly’s pirtobrutinib in the future. In August, Innovent struck a partnership with French major Sanofi, licensing two Sanofi drugs for China development in clinical trials alongside Tyvyt: SAR408701 (tusamitamab ravtansine), a CEACAM5 antibody drug conjugate (ADC) at Phase III stage; and SAR444245, a non \u03b1 biased IL-2 at Phase II stage.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China-based Innovent Biologics, Inc. (HKG: 1801) has released its 2022 interim report, recording RMB 2.24…<\/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":[27,910,198],"class_list":["post-25352","post","type-post","status-publish","format-standard","hentry","category-company","tag-finanical-reports","tag-hkg-1801","tag-innovent-biologics"],"yoast_head":"\nInnovent Biologics Reports 15.3% Revenue Growth in 2022 Interim Results - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Innovent Biologics, Inc. (HKG: 1801) has released its 2022 interim report, recording RMB 2.24 billion ($311.2 million) in revenue during the first half of this year, up 15.3% year-on-year (YOY). Product sales increased 10% YOY to RMB 2.04 billion ($283.4 million), driven by Tyvyt (sintilimab), a programmed death-1 (PD-1) inhibitor included in the National Reimbursement Drug List (NRDL), and contributions from new products. However, disruptions caused by COVID-19 in the second quarter impacted the growth rate of some products in the relevant cities and regions.\" \/>\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=25352\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Innovent Biologics Reports 15.3% Revenue Growth in 2022 Interim Results\" \/>\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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(HKG: 1801) has released its 2022 interim report, recording RMB 2.24 billion ($311.2 million) in revenue during the first half of this year, up 15.3% year-on-year (YOY). Product sales increased 10% YOY to RMB 2.04 billion ($283.4 million), driven by Tyvyt (sintilimab), a programmed death-1 (PD-1) inhibitor included in the National Reimbursement Drug List (NRDL), and contributions from new products. 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