Hansoh Pharmaceutical Reports 111.5% Surge in H1 Net Profit, with Oncology Revenue Accounting for Nearly 70%
Hansoh Pharma
Pharmaceutical Research, Production, and Sales
August 27,Hansoh Pharma Releases 2024 Interim Results.During the reporting period, the company achievedRevenue was approximately RMB 6.506 billion, representing a year-over-year increase of about 44.2%; net profit reached approximately RMB 2.726 billion, reflecting a year-over-year growth of about 111.5%.Among whichInnovative drugs and collaboration product revenue was approximately RMB 50.32 billion, accounting for 77.4% of total revenue. R&D expenditure was about RMB 11.96 billion, representing a year-on-year increase of 28.7%. Notably, Hansoh Pharma's oncology business revenue reached RMB 44.75 billion, accounting for 68.8% of total revenue.
Screenshot source: Official announcement from Hansoh Pharma
Hansoh Pharma attributed the growth in revenue and profitability mainly to the increased income from innovative drugs and collaborative products.Attributed to the increase in innovative drug sales and the upfront payment from partner GSK.
During the reporting period, HS-20093 was entered into with GSK on December 20, 2023.(B7-H3 Targeting ADC)Authorization Agreement ReceivedDown payment of $185 million.Notably, in August, HS-20093 received FDA Breakthrough Therapy designation for the treatment of patients with relapsed or refractory extensive-stage small cell lung cancer who progress during or after platinum-based chemotherapy.
Product revenue is divided by therapeutic area: oncology, anti-infectives, central nervous system disorders, and metabolic and other diseases.RMB 4.475 billion, RMB 701 million, RMB 733 million, and RMB 597 million,Accounting for total revenue proportions respectively68.8%, 10.8%, 11.3%, and 9.1%.
In terms of project progress, during the reporting period, the company is currently undertakingMore than fifty clinical trials for innovative drugs, belonging to over thirty innovative drug products.Among them, the key self-developed Class 1 innovative drugs approved for clinical trials for the first time include: HS-10501 tablets.(Proposed for the treatment of type 2 diabetes and adult obesity)HS-10398 Capsule(Proposed for the treatment of Immunoglobulin A Nephropathy and Membranous Nephropathy)HS-10504 Tablets(Proposed for the treatment of advanced NSCLC), as well as the HS-20137 monoclonal antibody (intended for the treatment of psoriasis and other autoimmune diseases) introduced from荃信生物, etc.
Hansoh Pharma's self-developedGLP-1/GIP Dual AgonistHS-20094, at the 2024 American Diabetes Association（ADA）The results of the Phase Ⅱa study were presented at the annual meeting:HS-20094 Demonstrates Good Safety and Tolerability Profile in Subjects with Type 2 Diabetes, Showing Efficacy in Blood Sugar Reduction and Weight Loss.
HS-20093 is a self-developed product by Hansoh Pharma.Novel B7-H3 Targeted ADC, which is currently undergoing multiple Phase I and Phase II clinical trials in China for the treatment of lung cancer, sarcoma, head and neck cancer, and other solid tumors. A Phase II study presented at the 2024 ASCO Annual Meeting showed:HS-20093 Demonstrates Potent Antitumor Activity with Good Safety and Tolerability in Heavily Pretreated Patients with Relapsed or Refractory Bone and Soft Tissue Sarcomas.
HS-10370 is a potent and highly selective oral drug independently developed by Hansoh Pharma.Small molecule KRAS G12C inhibitor.At the 2024 American Association for Cancer Research (AACR) The results of the Phase Ⅰ clinical study published at the annual meeting showed:HS-10370 demonstrated a favorable safety and tolerability profile in patients with advanced solid tumors and showed promising efficacy in treating KRAS G12C-mutant advanced solid tumors, particularly advanced NSCLC.
In addition to internal R&D, Hansoh Pharma has introduced multiple times to enhance its product pipeline. As of June 30, the company has cumulatively introduced eleven collaboration projects, nine of which are in clinical stages, while the remaining two projects have entered the commercialization stage.
During the reporting period,BD project costs totaling approximately RMB 130 million were incurred and recorded as R&D expenses.Introducing Promab BiotechnologiesEGFR/c-Met Bispecific AntibodyHS-20117 is currently in Phase I clinical trials for both monotherapy and combination therapy; introduced by Quanxin Biologics.Monoclonal AntibodyHS-20137, this product has initiated multiple clinical studies, with the highest development phase in China being Phase II clinical trials. After the reporting period, it also introducedSmall Molecule Bruton's Tyrosine Kinase InhibitorLP-168, whose highest stage of development in China is a pivotal Phase II registration clinical trial for tumors.
