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Sino Biopharmaceutical (1177.HK) Announces 2022 lnterim Results, Revenue up by 5.9% to RMB15.19 billion

HONG KONG, Aug 23, 2022 – (ACN Newswire) – Sino Biopharmaceutical Limited (“Sino Biopharmaceutical” or the “Company”, as well as its subsidiaries, the “Group”) (HKEX: 1177), a respected innovation-driven pharmaceutical conglomerate in the PRC, has announced its unaudited Interim results for the half a year ended 30 June 2022 (the “Period”).

Development Highlights

— The Group achieved considerable sales growth from the number of services and oncology products, with sales of services launched within five years accounted for about 43.5% of the Group’s total revenue in the initial 1 / 2 of 2022, up from approximately 36.9% for exactly the same period this past year.

— By 30 June 2022, the Group had a complete of 40 innovative drug candidates in the oncology field, 8 innovative drug candidates in neuro-scientific liver disease, 9 innovative drug candidates in the the respiratory system field in development process for clinical application, and 1 innovative drug candidate in neuro-scientific surgery/analgesia in phase III clinical trial. Furthermore, the Group had a complete of 23 biosimilar or generic drug candidates in the oncology field, 9 other biosimilar or generic drug candidates in the surgical/analgesic field, 5 biosimilar or generic drug candidates in neuro-scientific liver disease and 20 biosimilar or generic drug candidates in the the respiratory system field in development process for clinical application.

— Focus V (Anlotinib Hydrochloride Capsules) was approved for the fifth indication-differentiated thyroid cancer in the initial 1 / 2 of 2022. Up to now, Anlotinib has been approved for five indications: third-line non-small cell lung cancer, third-line small cell lung cancer, soft tissue sarcoma, medullary thyroid cancer and differentiated thyroid cancer.

— TDI01 is really a highly selective inhibitor of ROCK2 and happens to be in development procedure for phase I clinical trial for the mark indications of pneumoconiosis, pulmonary fibrosis and graft versus host disease. There is absolutely no approved drug for pneumoconiosis worldwide, TDI01 is likely to fill this gap and become a boon to pneumoconiosis patients.

— SFT-1001 and SFT-1003 are two soft mist inhalation products which are currently in late clinical stage. By 2021, you can find only five soft mist inhalation products available worldwide, with a worldwide market size of over US$3 billion and a compound growth rate of over 35% previously five years, and the global soft mist market is likely to each US$7 billion by 2030.

Through the Period, the Group recorded revenue of around RMB15.19 billion, a rise of around 5.9% against this past year. Profit due to the owners of the parent company was approximately RMB1.92 billion. Earnings per share due to the owners of the parent company were approximately RMB10.30 cents. Excluding the share of profits and losses of associates and a jv (net of related tax and non-controlling interests), certain non-cash items and one-off adjustments, adjusted non-HKFRS profit due to the owners of the parent was approximately RMB1.66 billion, a rise of around 4.5% over that in exactly the same period this past year. Sales of services accounted for about 43.5% of the Group’s total revenue for the time, although it was approximately 36.9% for exactly the same period this past year. The Group’s liquidity remains strong, with cash and bank balances classified under current assets of around RMB7.77 billion, bank deposits classified under non-current assets of around RMB6.84 billion, and wealth management products of around RMB7.64 billion in aggregate, the Group’s total fund reserve was approximately RMB22.25 billion at the time end.

The Board of Directors has declared the payment of an interim dividend of HK6 cents per share. (2021: HK4 cents).

Sales: Harvested years of R&D results, sales of services as a share to revenue climbed

The Group has obtained significant advantages from years of high research and development, and continues to spotlight development of related products in the regions of specialist therapeutic. Through the period, the sales revenue of services launched within five years was approximately RMB6.61 billion, accounting for about 43.5% of the full total revenue of the Group from approximately 36.9% this past year.

Through the Period, the Group’s oncology, liver disease and cardio-cerebral vascular medicines continued to lead in sales contribution. Sales of oncology medicines increased by 16.7% year-on-year to approximately 4.96 billion, accounting for about 32.6% of the Group’s revenue. Sales of liver disease (hepatitis) medicines and cardio-cerebral vascular medicines increased by approximately 11.1% and 13.8% year-on-year to approximately 2.01 billion and 1.55 billion, respectively, accounting for about 13.2% and 10.2% of the Group’s revenue. Furthermore, the sales contributions of products in a variety of areas such as for example surgery/analgesia, the respiratory system among others went up hand-in-hand. Sales of surgery/analgesia and the respiratory system medicines accounted for about 16.6% and 10.0% of the Group’s revenue, respectively.

In your community of oncology, since its launch in 2018, the revenue from sales of Anrotinib has continued to cultivate rapidly and is likely to grow at a compound rate of 46% in the time between 2018 and 2022. Through the Period, sales of Annike (Penpulimab monoclonal antibody injection) more than doubled contrary to the same period this past year. F-627 (Efbemalenograstim alpha, long-acting granulocyte colony-stimulating factor) happens to be under marketing application stage. It offers a safety advantage over mainstream second generation products currently available, is likely to be approved in China in the initial 1 / 2 of 2023.

In your community of surgery/analgesia, the Group centered on hospital access and high-potential area development, specifically on developing and increasing coverage of secondary hospitals and community healthcare facilities, driving the rapid growth of Debaian (Flurbiprofen) Cataplasms in the initial half of the entire year.

In your community of liver disease, the Group made efforts to strengthen academic promotion in order to expand doctor coverage and enhance expert recognition, along with actively identified new patients and new market to build up, driving the rapid growth of sales revenue of Tianqing Ganmei Injection through the Period.

R&D: Continued to spotlight services in specialist therapeutic areas

The Group has continued to target R&D efforts on new oncology, surgery/analgesia, hepatitis, the respiratory system and cardio-cerebral vascular medicines. By 30 June 2022, a complete of 418 pharmaceutical products had obtained clinical trial approval, or were under clinical trial or trying to get production approval. Of these, 29 were at under hepatitis, 230 for oncology, 31 for the respiratory system medicines, 9 for endocrine, 16 for cardio-cerebral medicines, 3 for surgery, 4 for analgesia and 96 for other medicines.

Prospects: Two-pronged approach of independent research and development, focusing more on products with high innovation and market potential

Later on, the Group will create a healthier, more diversified and sustainable revenue structure by continuing to create on traditional public hospital sales, invest more resources in new marketing channels and new marketing tools, and gradually expanding their share of revenue. Because of the potential impact of the national volume-based procurement policy on generic drugs, the Group has re-evaluated and optimised its products under development from the perspective of innovation and market value, focusing more on products highly innovative sufficient reason for market potential.

The Group will continue steadily to invest more resources in innovative R&D facilities, personnel and projects. Innovation has turned into a key driver of growth for the Group, with the share of revenue from innovative medicines likely to reach 24% by 2022. Looking ahead, the Group plans to realize revenue exceeding the RMB10 billion mark from innovative medicines by 2023, further increasing the share of revenue from their website in the Group’s total. The Group aims to become world-class innovative pharmaceutical group by 2030, with a revenue target of HK$100 billion, which over 60% is likely to be contributed by innovative drugs.

Looking ahead, the Group is concentrating on four therapeutic areas, namely oncology, surgery/analgesia, liver disease and the respiratory system, and will make an effort to achieve its 2030 target by adopting a two-pronged approach – pursuing independent research and development and innovation-driven business development.

About Sino Biopharmaceutical Limited (HKEX: 1177)

Sino Biopharmaceutical Limited is really a leading, innovative R&D-driven pharmaceutical conglomerate in the PRC. Its business has a fully-integrated chain which covers a range of R&D platforms, a line-up of intelligent production and a solid sales system. The Group’s products have gained a competitive foothold in a variety of therapeutic categories with promising potential, comprising a number of biopharmaceutical and chemical medicines for oncology, surgery/analgesia, hepatitis, and the respiratory system.

Sino Biopharmaceutical is really a constituent stock of the next indices: MSCI Global Standard Indices – MSCI China Index, Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Composite Index, Hang Seng Healthcare Index, Hang Seng SCHK Mainland China Healthcare Index, Hang Seng Composite LargeCap Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng China (Hong Kong-listed) 100 Index and Hang Seng Stock Connect Hong Kong Index, etc.. Sino Biopharm was ranked as you of “Asia’s Fab 50 Companies” by Forbes Asia for three consecutive years in 2016, 2017 and 2018.

Topic:News release summary

Source: Sino Biopharmaceutical Limited

Sectors:BioTech, Healthcare & Pharm

From the Asia Corporate News Network

Copyright 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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