{"id":7597,"date":"2024-03-20T09:47:28","date_gmt":"2024-03-20T01:47:28","guid":{"rendered":"https:\/\/flcube.com\/?p=7597"},"modified":"2024-10-18T09:53:52","modified_gmt":"2024-10-18T01:53:52","slug":"china-grand-pharmaceutical-reports-robust-2023-revenues-and-pipeline-advancements","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=7597","title":{"rendered":"China Grand Pharmaceutical Reports Robust 2023 Revenues and Pipeline Advancements"},"content":{"rendered":"\n

China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512<\/a>; CGP) has reported its financial results for 2023, with revenues reaching HKD 10.53 billion (USD 1.35 billion), marking a 15.8% year-on-year increase. The net profit stood at HKD 2.04 billion (USD 260.8 million), up by a modest 0.2% year-on-year. The company achieved 30 product approvals and concluded 3 significant M&A deals over the course of the year. CGP now has over 10,000 employees globally, operates across more than 30 domestic and foreign subsidiaries, and maintains 5 technology platforms and 8 R&D centers. The company has over 200 products listed in the National Reimbursement Drug List (NRDL) and boasts 16 products with sales exceeding RMB 100 million (USD 13.9 million) each.<\/p>\n\n\n\n

In 2023, CGP launched 5 new products, advanced 5 into the New Drug Application (NDA) filing stages, and initiated clinical trials for 8 products. Additionally, 4 radionuclide drug conjugates (RDCs) progressed into clinical trials. Pharmaceutical technology products saw a 17.1% increase in revenue to HKD 6.813 billion (USD 871 million), with the respiratory and critical care sector leading with a 38.2% growth to HKD 1.375 billion. The ophthalmology and otorhinolaryngology segment contributed HKD 2.314 billion, up 10%, and the cardiovascular and cerebrovascular emergency department generated HKD 2.448 billion, up 15.9%.<\/p>\n\n\n\n

Biotechnology products revenue increased by 12.4% to HKD 3.381 billion, primarily driven by the amino acid business, which includes taurine, with sales reaching HKD 2.758 billion, up 16.1%. The group’s nuclear drug anti-tumor diagnosis and treatment, along with precise intervention diagnosis and treatment technology products for cardiovascular and cerebrovascular diseases, saw a revenue increase of 26.7% to HKD 335 million. The nuclear drug anti-tumor sector revenue skyrocketed by 279.5% to HKD 217 million, while the precision intervention diagnosis and treatment sector for cardiovascular and cerebrovascular diseases reached HKD 118 million.<\/p>\n\n\n\n

In the nuclear drug anti-tumor diagnosis and treatment field, CGP acquired 87.5% of US-based BlackSwan, making it a non-wholly-owned subsidiary and marking another step in the company’s Tumor intervention field. In the cardiovascular and cerebrovascular disease sector, CGP executed two major M&A deals, acquiring 75.35% of Tianjin Tanabe Seiyaku and 90% of Chongqing Duoputai Pharmaceutical Co., Ltd.<\/p>\n\n\n\n

In June 2023, OncoSec, a former affiliate, filed for bankruptcy in the US. CGP allocated HKD 59.65 million for the liquidation and resigned its appointed directors, thus severing ties with OncoSec. The company has a robust pipeline of 138 investigational programs, including 46 innovative projects. In 2023, CGP achieved 77 major milestones and established a new R&D center, secured 17 core patents, and obtained 118 patent authorizations. The company invested HKD 1.44 billion in R&D and product development, and by the end of 2023, its cash and cash equivalents stood at HKD 1.34 billion.- Flcube.com<\/a><\/p>\n\n\n\n

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

China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512; CGP) has reported its financial results…<\/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":[27,683,1184],"class_list":["post-7597","post","type-post","status-publish","format-standard","hentry","category-company","tag-finanical-reports","tag-grand-pharmaceutical","tag-hkg-0512"],"yoast_head":"\nChina Grand Pharmaceutical Reports Robust 2023 Revenues and Pipeline Advancements - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512; CGP) has reported its financial results for 2023, with revenues reaching HKD 10.53 billion (USD 1.35 billion), marking a 15.8% year-on-year increase. 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