China Biopharmaceutical (01177) released an announcement that in the third quarter of 2022, with the controlled epidemic situation in China and the restoration of normal production and living order, the flow of consumer medical care and hospital diagnosis and treatment recovered significantly. The Group seized the opportunity in time to accelerate the progress of R&D, production and sales, which led to a rapid recovery of the Group’s performance in the third quarter. In the third quarter of 2022, the Group’s income (unaudited) was about 7.473 billion yuan, an increase of 21.3% over the same period last year; From the first quarter to the third quarter of 2022, the Group has accumulated revenue (unaudited) of about 22.667 billion yuan, an increase of about 10.5% over the same period last year.
It is reported that the Group has carried out a systematic layout from the marketing system, production cost control and other aspects to deal with the normalization of national centralized purchase, and has played a positive role in stabilizing income and profit growth. In the future, on the basis of continuing to do a good job in the sales of traditional public hospitals, the Group will increase the resource investment in new marketing channels and new marketing means, gradually expand the proportion of new marketing channels’ revenue, and build a more healthy, diversified and sustainable revenue composition system.
In view of the potential impact of the national centralized procurement policy on generic drugs, the Group reassessed and optimized the product line under research from the perspective of innovation and market value, focusing more on products with high innovation and great market potential. The Group also continued to increase investment in innovative R&D facilities, personnel and projects. Innovation has become an important driving force for the Group’s performance growth, and the proportion of innovative drug revenue is expected to reach 24% in 2022. Looking into the future, the Group plans to break through the 10 billion yuan mark in the revenue of innovative drugs in 2023, and further increase the proportion of innovative drug revenue. The Group strives to become a world-class innovative pharmaceutical group by 2023, reaching the revenue target of HK $100 billion, of which innovative drugs account for more than 60% of the revenue. The Group will focus on the four major therapeutic fields of tumor, surgery/analgesia, liver disease and respiratory system, and strive to achieve the goal of 2023 through independent research and development and business development.
Post time: Oct-21-2022