-The revenue from innovative drugs accounted for more than 65% of total revenue
-Simcere's total revenue and the revenue from innovative drugs hit record highs.
NANJING, China, April 24, 2023 /PRNewswire/ -- On Apr. 18, Simcere Pharmaceutical (2096.HK) disclosed the latest progress on the company's R&D and business operation on its first Investor Day themed "Focusing on more effective new products with differentiated clinical value" in Hong Kong. The event attracted more than 500 investors and analysts who were eager to hear more about the innovation happening at the pharmaceutical group.
In 2022, the total amount of all pharmaceutical companies listed on the HKEX invested in R&D reached 34 billion yuan. The substantial increase in R&D investment has raised concerns about the R&D efficiency within the industry. Compared with its counterparts, Simcere has made remarkable achievements. Its three key innovative drugs, namely Sanbexin®, COSELA®, and XIANNUOXIN, the recently-approved oral 3CL targeted pill for COVID-19 infection that the company invested about 1.1 billion yuan for development are bringing more game-changing treatment options to the market. The product portfolio in Central Nervous System represented by Sanbexin achieved sales of 2.267 billion yuan in 2022. Investors and analysts applauded Simcere for of the company's innovation and efficiency at which its R&D department can bring drugs to market. It is also testament to its long-term investment value.
According to Ren Jinsheng, Chairman and CEO of Simcere, in the next three years, the company will see a quick annual growth in sales, greater annual growth in profits, and higher proportion of revenue from innovative drugs.
Zhou Gaobo, Chief Investment Officer, said that after being listed on the HKEX, Simcere has been gaining considerable momentum towards innovation and transformation, launching four global innovative drugs one after another in the past three years. Its R&D pipeline has also experienced an impressive increase in the number of projects, growing from just 10 assets in Phase I in 2020 to six promising drugs in Phase III, two in Phase II, 10 in Phase I, and more than 40 in pre-clinical stage.
Simcere is proud of its strong pipeline that has built on the back of rigorous science and collaboration. Recent achievements include: Sanbexin,the only drug for stroke treatment launched in China since 2015; Envafolimab , the world's first and only approved subcutaneous PD-L1 antibody-based drug at present; and Cosela, the world's first innovative drug for multilineage myeloprotection that is administered before chemotherapy for cancer patients.
