Development Highlights
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-- The Group's 6 products, namely Esomeprazole Magnesium Enteric-coated Capsules, Empagliflozin Tablets, Emtricitabine and Tenofovir Disoproxil Fumarate Tablets, Canagliflozin Tablets, Bortezomib for Injection and Ticagrelor Tablets, were included in the fourth batch of centralized procurement drugs. Of them, 4 products including Esomeprazole Magnesium Enteric-coated Capsules, are newly approved products which, being qualified for centralized procurement, are expected to quickly gain market share.
-- The Group, through its subsidiary
-- Fosaprepitant Dimeglumine for Injection, a drug developed by CT Tianqing for prevention of nausea and vomiting caused by chemotherapy, secured approval from the
-- Under the guidance of the
Sales of new products as a percentage to revenue increased to 47.4%, driving revenue up 16.4%; profit attributable to the owners of the parent climbed by 118.5%
During the period, the Group recorded revenue of approximately
The Group's financial position remains strong and stable, cash and bank balances totaled approximately
The Board of Directors declares a quarterly dividend of HK2 cents per share (Q1 2020: HK2 cents).
Building effective marketing by leveraging emerging online platforms amid the pandemic, which in turn boosted product sales; sales of oncology medicines doubled
During the period, the Group's marketing and sales team was able to accurately grasped opportunities arising from hospitals resuming service with the pandemic under control and more and more patients going to the hospital for consultation. Abiding strictly with pandemic prevention and control policies, marketing activities fully resumed and an effective marketing and service system was formed by integrating the online academic promotion and patient education and service platforms set up during the pandemic.
Sales of oncology medicines amounted to approximately
In the cardiovascular and cerebrovascular segment, 8 products developed by the Group were selected in the past 4 rounds of national procurement. To make the best of those related opportunities, the Group worked hard on ensuring smooth production, logistics and supply of its products. As such, products including Tuotuo, Beilishu and Anxinfen reported satisfactory growth.
In the field of orthopedic and analgesia, the Group applied its chronic disease management system, well-established and strengthened during the pandemic period, to enhance services for doctors and patients. Gaisanchun (Calcitriol Capsules), Debaian/Zepolas (Flurbiprofen Cataplasms), Yigu (Zoledronic Acid Injection), Kaifen (Flurbiprofen Axetil Injection), Chia Tai Jiuli (Glucosamine Hydrochloride Tablets), Taiyan (Tofacitinib Citrate Tablets), Fenkexin, Yu An (Parecoxib Sodium for Injection), and Sulibao (Celecoxib Capsules) all achieved remarkable sales performance.
In the field of respiratory, the Group's first generic drug for allergic asthma, Tianqingsuchang (Budesonide Suspension for Inhalation), was launched, helping enrich the Group's respiratory product line and providing local patients with a new option for the first time other than imported products. At the prompt decision of the medical and marketing departments to set up a hospital service system pinpointing asthma patients, sales of the product increased markedly. Currently, the Group still has a number of respiratory products under development and the area will be one of its main foci in the future.
Digestive products, such as Getai (Diosmin Tablets) and Deyou (Pronase), infusion products Fenghaina (Compound Sodium Acelate Ringer's Injection), and contrast products, such as Qingliming (Iodixanol Injection) and Xianai (Gadoxetate Disodium Injection), performed far better than expected during the period.
Strong R&D capabilities has been the key profit driver
Over the years, the Group has put immense resources into bolstering its R&D capability to turn it into a key profit driver. It has 50 products on sale launched in or after 2018 and their total revenue grew over 90% during the period. The Group's product lines under development have strong reserves of new products to add to every year.
During the period, the Group obtained 7 production approvals: 3 specifications of Anlotinib Capsules' New Indication for Medullary Thyroid Carcinoma, 2 specifications of Esomeprazole Magnesium Enteric-coated Capsules, and 2 specifications of Empagliflozin Tablets; and 12 passes of Consistency Evaluation (or are deemed to have passed): 2 specifications of Esomeprazole Magnesium Enteric-coated Capsules (or are deemed to have passed), 2 specifications (or are deemed to have passed) of Empagliflozin Tablets, 2 specifications for Bortezomib for Injections, Parecoxib Sodium for Injection, Docetaxel Injection, 3 specifications of Decitabine for Injection, Alfacalcidol Soft Capsule. 7 pharmaceutical products obtained clinical trial approvals and 8 filed applications for clinical trial. 2 filed applications for production approval and 4 made application for Consistency Evaluation. The Group obtained 39 new invention patent approvals, and made 212 applications for invention patents. Cumulatively, the Group has obtained 963 invention patent approvals.
During the period, the total R&D expenditure was approximately
Prospects: deploy the Internet and big data riding on the "Internet + healthcare" national policy
According to forecasts, the global economic recovery is likely to continue in the second quarter, with further divergence among economies depending on epidemic control, vaccine supply, economic fundamentals and stimulus policies.
The Group has been aware of the trend of encouraging and promoting "Internet + healthcare" by national policy, and has started to deploy and will continue to make good use of the Internet and big data to efficiently and cost-effectively conduct academic activities while provide better services to patients through chronic disease management.
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Sino Biopharm is a constituent stock of the following 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 (
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