Innovent Biologics, Inc. (HKG: 1801) announced that Picankibart Monoclonal Antibody Injection (IBI112), branded XINMEIYUE, received National Medical Products Administration (NMPA) marketing approval for adult patients with moderate‑to‑severe plaque psoriasis, becoming the latest IL‑23p19 inhibitor to enter China’s dermatology market.
Most common: upper respiratory tract infection; no new signals
Favorable long‑term profile
Market Context & Outlook
Metric
Value
China Psoriasis Patients
~6.5 million (moderate‑to‑severe: 2.1 million)
Biologics Penetration
~25% (525,000 patients)
IL‑23 Inhibitor Market Size
¥4.8 billion (~US$660 million)
Growth CAGR
22% (2024‑2030)
Peak Sales Forecast (Picankibart)
¥2.5‑3.2 billion (~US$340‑440 million) by 2031
Market Share Target
15‑20% of IL‑23 class (competing with Janssen’s Tremfya, AbbVie’s Skyrizi)
Pricing Strategy: Expected at ¥15,000‑18,000 per dose (q12w dosing), 20‑30% discount vs. imported IL‑23 inhibitors
Reimbursement Path: NMPA approval triggers Priority Review for National Reimbursement Drug List (NRDL) inclusion Q2 2026
Strategic Value: Strengthens Innovent’s immunology franchise, building on its anti‑PD‑1 leadership (sintilimab)
Forward‑Looking Statements This brief contains forward‑looking statements regarding Picankibart’s commercial launch, market penetration, and reimbursement outcomes. Actual results may differ materially due to risks including competitive responses, market adoption rates, and NRDL negotiation outcomes.-Fineline Info & Tech
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