SHANGHAI, Aug. 29, 2023 /PRNewswire/ — Setting the Stage for Progress: Fosun Pharma’s Thrilling 2023 Interim Results Unveiled! On August 29, 2023, Shanghai Fosun Pharmaceutical Co., Ltd.* (Stock Code: 600196.SH; 02196.HK) proudly showcased its remarkable strides in the first half of 2023, a time of immense growth and innovation. During this dynamic period, Fosun Pharma achieved a resounding revenue of RMB21.395 billion; a significant net profit of RMB1.777 billion was attributed to shareholders of the listed company, marking a remarkable period-on-period growth of 15.74%.
Guided by the ethos of being a global innovation-driven pharmaceutical and healthcare industry leader, Fosun Pharma is a true powerhouse encompassing pharmaceuticals, medical devices, medical diagnosis, and healthcare services. With a firm foothold in the pharmaceutical distribution and retail sector as a shareholder of Sinopharm Group Co. Ltd., Fosun Pharma’s influence spans far and wide. Undoubtedly, the pharmaceuticals business stands as the bedrock of Fosun Pharma’s operations. In the electrifying first half of 2023, the pharmaceuticals division proudly reported a revenue of RMB15.995 billion, showcasing a remarkable period-on-period growth of 11.64%.
Fueling its ascent are Fosun Pharma’s trailblazing innovative products, which encompass pivotal therapeutic areas including tumors (solid tumors and hematologic tumors), immunology, central nervous system, and chronic diseases (liver disease/metabolism/kidney disease). The journey to innovation has been an ever-evolving one, shaped by a diverse and multi-faceted approach that encompasses independent R&D, cooperative development, license-in agreements, and in-depth incubation.
The fruits of these endeavors have led to an acceleration in the R&D and launch of cutting-edge technologies and products, substantially amplifying Fosun Pharma’s innovative product portfolio. This continuous dedication to innovation not only propels growth but also ignites a fresh surge of energy into the realm of performance growth, setting Fosun Pharma apart as a true industry trailblazer.
Adheres to open innovation strategy and speeds up the launch of new products
In a remarkable tale of innovation and achievement, the first half of 2023 witnessed the launch approval of a series of groundbreaking products and indications jointly developed by Fosun Pharma, extending the frontiers of their innovative product portfolio. This strategic move led to the dynamic optimization of their product structure, catalyzing a swift surge in revenue from these game-changing innovations.
Among these triumphs, Han Si Zhuang, welcomed with open arms since its March 2022 launch, celebrated a resounding revenue of RMB556 million during the Reporting Period, marking its entry into a vibrant ‘speeding up period’ of commercialization. Not to be overshadowed, Han Qu You’s revenue soared with a staggering 57.1% period-on-period growth, while Su Ke Xin experienced an impressive 32.7% period-on-period expansion.
Taking center stage, Han Si Zhuang unveiled itself as Fosun Pharma’s inaugural self-developed biopharmaceutical innovative drug. This trailblazing achievement stands as the world’s first monoclonal antibody drug aimed at PD-1, donning a triple crown of approvals for the first-line treatment of extensive small cell lung cancer. Its triumphant reach extends to Microsatellite Instability-high (MSI-H) solid tumors, Squamous Non-small Cell Lung Cancer (sqNSCLC), and Extensive-Stage Small Cell Lung Cancer (ES-SCLC).
As if this wasn’t enough, the NDA for a fourth indication, targeting the first-line treatment of esophageal squamous cell carcinoma (ESCC), has been embraced by the Chinese Mainland. With an impact that resonates, Han Si Zhuang’s presence is felt across 29 provinces/autonomous regions/municipalities in China, carving its legacy through online bidding and inclusion in tailored commercial insurance catalogues in key cities like Shanghai, Ningbo, and Zhuhai, benefiting a staggering 34,000 patients.
In another milestone, the Reporting Period witnessed the new approval of Yi Kai Da (ejilunsai injection), the first domestically introduced CAR-T cell therapy product. This victory opens doors for a second-line indication in the Chinese Mainland, offering renewed hope for adult patients battling large B-cell lymphoma that is refractory to first-line immunochemotherapy or that resurfaces within 12 months.
Fueling its growth, Fosun Pharma remains steadfast in embracing open innovation, nurturing partnerships that foster pipeline expansion. A testament to this approach is the launch approval of Bei Wen (Keverprazan Hydrochloride tablets), the pioneering potassium ion competitive acid blocker (P-CAB) that stands as China’s first. The launch also extends to Pei Jin (Telpegfilgrastim injection), a long-lasting recombinant human granulocyte colony-stimulating factor product, and Pang Bi Fu (Etelcalcetide Hydrochloride injection), a new-generation calcimimetic, unfurling new horizons in their innovative drugs portfolio.
The momentum doesn’t stop there, as Fosun Pharma’s pipeline rockets forward with multiple products poised to transition into critical clinical/approval stages. The phase III clinical research of the self-developed MEK1/2 selective inhibitor FCN-159, destined to redefine treatment for neurofibromatosis type I in adults, has ignited in the Chinese Mainland.
Two ongoing projects have earned the honor of being included in the prestigious breakthrough therapy drug program. Furthermore, the enrollment for the phase III clinical trial of the self-developed 13-valent pneumococcal conjugate vaccines (multivalent combinations) has concluded with success. On the horizon, a tapestry of milestones awaits, with several pipeline drugs, including DaxibotulinumtoxinA (RT002) and Tenapanor, setting their sights on Chinese Mainland approval, enriching Fosun Pharma’s pioneering journey.
Continues to optimize the R&D system and improve R&D efficiency
In a resounding declaration of their unwavering commitment to innovation, Fosun Pharma has not only weathered challenges but soared to new heights in the first half of 2023. Their pursuit of groundbreaking advancements has paved the way for unprecedented accomplishments, ushering in an era of transformative healthcare solutions.
In a strategic dance of progress, Fosun Pharma has orchestrated a symphony of advancements across four core technology platforms: small molecules, antibody/ADC, RNA, and cell therapy. This finely tuned strategy has propelled the research and development of a diverse array of innovative products, fortifying their position as pioneers in the industry.
Boldly investing in the future, Fosun Pharma’s R&D expenditures surged to RMB 2.88 billion during the Reporting Period, showcasing a spirited growth of 19.77%. Within this spirited endeavor, R&D expenses reached RMB 2.13 billion, swelling by RMB 0.31 billion or an inspiring 16.80%. The pharmaceutical manufacturing sector was not left behind, as its R&D expenditures bloomed to RMB 2.52 billion, boasting a 22.16% period-on-period growth. A testament to their focus on innovation, these investments mirrored their steadfast dedication to enhancing the world of healthcare.
The curtain of innovation revealed Fosun Pharma’s dazzling pipeline, teeming with over 70 major projects spanning innovative drugs and self-developed biosimilars. The Reporting Period witnessed a meteoric rise, with 5 innovative drugs and 10 generic drugs gaining approval for launch. Yet, the spirit of innovation marches on, as 4 innovative drugs/biosimilars and 34 generic drugs applied for launch (NDA), while 7 innovative drugs/biosimilars gained approval for clinical trials (IND) in the Chinese Mainland.
Fosun Pharma’s commitment to scientific prowess knows no bounds, as evidenced by the establishment of a Scientific Advisory Board (SAB) at the group level. This strategic move has ignited a cascade of enhancements across the innovation landscape, including the infusion of senior scientists and C-level talents. The company’s quest for quality and effectiveness has led them to revamp their innovative drug project establishment, ensuring the pipeline shines brightly with value and competitiveness.
But their impact stretches beyond the horizon of innovation, as Fosun Pharma embraces internationalization on multiple fronts. The United States, Europe, Africa, India, and Southeast Asia have all felt the ripple effects of their strategic expansion. The company’s foray into the United States is particularly captivating, as they navigate partnerships, applications, and authorizations, creating pathways for their innovative wonders to captivate global audiences.
Never one to shy away from challenges, Fosun Pharma has embraced the mission of enhancing accessibility and affordability for all. Their efforts have seen the launch of rare disease products like Su Ke Xin and Wei Ge Ding, offering a lifeline to those in need. The global impact of their initiatives is undeniable, with products like Yi Kai Da touching the lives of over 500 lymphoma patients in China alone. Moreover, their legacy as a leading antimalarial drug manufacturer is solidified, with over 300 million injections of Argesun injection lighting the path to global health.
Fosun Pharma’s journey is one of transformation, fueled by innovation and powered by a resolute commitment to global wellbeing. As the company writes the next chapter of its extraordinary saga, its vision of a healthier world takes center stage, driven by innovation, compassion, and a relentless pursuit of excellence.”
About Fosun Pharma
Charting a legacy that began in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* (“Fosun Pharma”; stock code: 600196. SH, 02196. HK) stands as a beacon of innovation in the pharmaceutical and healthcare industry. A global force, Fosun Pharma commands an impressive portfolio of pharmaceuticals, medical devices, medical diagnosis, and healthcare services. With a strategic stake in Sinopharm Group Co., Ltd., Fosun Pharma continues to amplify its influence across pharmaceutical distribution and retail.
Determinedly patient-centric and rooted in clinical needs, Fosun Pharma fuels its innovative pipeline through a myriad of strategies. From independent research and cooperative development to licensing and incubation, they blaze trails in FIC (First-in-class) and BIC (Best-in-class) new drugs, spearheading groundbreaking technologies and products.
Guided by the 4IN strategy (Innovation, Internationalization, Intelligentization, and Integration), Fosun Pharma is on an unstoppable trajectory. With an unyielding focus on innovation transformation, integrated operations, and steadfast growth, they’re fueled by a mission to create value for shareholders. Their commitment to strengthening independent R&D, external collaborations, and enriching product pipelines is unshakable, with a spotlight on global networks, operational prowess, and digital prowess.
But their mission is not just about innovation—it’s about impact. Fosun Pharma’s vision extends beyond products, touching lives with care and compassion. Rare disease products like Su Ke Xin and Wei Ge Ding offer solace to those often forgotten. The pioneering artesunate injectable, Argesun, has touched the lives of millions in Africa, countering the scourge of malaria.
With each innovation, Fosun Pharma renews its promise to the world, a promise of healthier lives and a brighter future.