Hansoh Pharma Reports H1 2024 Revenue of RMB 6.506 Billion, Up 44.2% Year-on-Year

China Securities News (reporter Jinzhong Xu) - On August 27, Hansoh Pharma released its 2024 interim financial report. During the reporting period, the company achieved revenue of approximately RMB 6.506 billion (RMB, same below), representing a year-on-year increase of approximately 44.2%; net profit was approximately RMB 2.726 billion, reflecting a year-on-year growth of approximately 111.5%; basic earnings per share were approximately RMB 0.46, increasing by about 111.4% year-on-year, with a dividend per share of 20.10 Hong Kong cents.

During the reporting period, the performance of Hansoh Pharma's innovative drugs and collaborative products reached approximately RMB 50.32 billion, representing a year-on-year increase of about 80.6%, and accounting for 77.4% of total revenue; research and development expenditure amounted to approximately RMB 11.96 billion, marking a year-on-year increase of about 28.7%, accounting for approximately 18.4% of total revenue. The company currently has over 30 innovative drugs undergoing more than 50 clinical trials, with key progress achieved in the development of several major products.

As of the end of the review period, the company has cumulatively introduced 11 collaboration projects, with 9 in clinical stages and the remaining 2 projects having entered the commercialization stage. The company actively seeks out-licensing opportunities for its proprietary pipeline products and has completed 2 out-licensing agreements.

In terms of Licensing-in, in 2024, Hansoh Pharma reached three BD cooperation agreements: In March, it expanded its collaboration with Promab on HS-20117 (EGFR/c-Met ADC) drug within the global cooperation region; In April, it obtained exclusive license from Quanxin Biotech to develop and commercialize HS-20137 monoclonal antibody in China. This innovative candidate drug is applicable for psoriasis and Crohn's disease, and has initiated multiple clinical studies, with the highest R&D phase in China being Phase II clinical trials; In August, it acquired the rights of LP-168 (BTKi) for non-oncology indications in China (including Hong Kong, Macao, and Taiwan) from Lupeng Biotech, further strengthening its innovative pipeline.

In terms of License out, the product under research HS-20093 (B7-H3), which was licensed to GSK for overseas markets, has recently received Breakthrough Therapy Designation from the US FDA, further highlighting its innovative value.