China's Medical Supplies Commercial Contracts Reach $1.41 Billion

1. WHO: Global COVID-19 cases exceed 2.77 million

According to the latest real-time statistical data from the World Health Organization, there are currently 2,774,135 confirmed cases of COVID-19 worldwide, with 190,871 deaths. Nearly 2.69 million cases have been reported outside China. (CCTV.com)

2. Ministry of Commerce: Cumulative Commercial Procurement Contracts for Medical Supplies in China Reach $1.41 Billion

At a press conference held by the Joint Prevention and Control Mechanism of the State Council, Li Xingqian, Director of the Foreign Trade Department of the Ministry of Commerce, stated that according to the Ministry’s business statistics, as of April 25, China had signed 192 batches of commercial procurement contracts for medical supplies with 74 countries and regions and six international organizations, with a cumulative value of US$1.41 billion. Meanwhile, 72 countries and regions and eight international organizations were engaged in 129 batches of commercial procurement negotiations with Chinese enterprises. Through market-based procurement, all 31 provinces, autonomous regions, and municipalities directly under the Central Government in China have exported epidemic prevention materials to 191 countries and regions. (China.org.cn)

3. Wuxi R&D-Focused Pharmaceutical Companies Rise to the Challenge Amid the Epidemic, with Q1 Sales Increasing by 13.27%

Since the outbreak of the COVID-19 pandemic, a large number of pharmaceutical R&D enterprises have risen to meet the challenge. As of March 31, the Wuxi Biopharmaceutical R&D Service Outsourcing Zone, which accounts for 90% of Wuxi’s new drug R&D capacity and hosts nearly 200 pharmaceutical companies, achieved sales revenue of RMB 1.69 billion. Among this, R&D-focused and manufacturing-focused pharmaceutical enterprises generated RMB 540 million and RMB 1.15 billion, respectively, representing year-on-year growth rates of 13.27% and -22.51% (People’s Daily Online).

4. Boji Medicine, a Top 10 Chinese CRO Company, Reports Net Loss in Q1 After Previously Being Profitable

Boji Medicine Announces First Quarter 2020 Financial Report. Affected by the COVID-19 pandemic, the company and its upstream and downstream industries delayed resumption of work, resulting in slow progress of ongoing projects. In the first quarter, the company achieved total operating revenue of RMB 20.8187 million, a year-on-year decrease of 42.65%; net profit attributable to shareholders of the listed company was -RMB 5.8631 million, a year-on-year decrease of 523.55%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was -RMB 7.52 million, a year-on-year decrease of 1400.01%; newly added contract value amounted to approximately RMB 40.19 million, representing a decline compared to the same period last year. During the first quarter, net cash flow from operating activities turned negative, with a net outflow of RMB 529,600, compared to a net inflow of RMB 4.823 million in the same period last year. The company stated that this was primarily due to reduced collection of business funds compared to the same period last year and increased labor costs incurred during the current period.

5. Beta Pharma’s Net Profit in Q1 2020 Increased by 152.36% Year-on-Year, with Icotinib Sales Standing Out

Recently, Beta Pharma released its financial report for the first quarter of 2020. During the reporting period, the company's operating revenue reached RMB 647 million, a year-on-year increase of 72.63%; the net profit attributable to shareholders of the listed company was RMB 130 million, a year-on-year increase of 152.36%. Icotinib continued to perform strongly, with single-product sales reaching RMB 634 million, a year-on-year increase of 69.82%. Despite the impact of the COVID-19 pandemic, Icotinib still achieved robust growth. Beta Pharma stated that as a life-saving medication, Icotinib is critical to the safety and well-being of numerous NSCLC patients across China. To ensure patient access to the drug, the company and its distributors made every effort to guarantee supply. (PharmaCube)

6. MicroPort CardioFlow: Q1 Net Profit Up 32.42% Year-on-Year

MicroPort CardioFlow (688016) disclosed its first-quarter report on the evening of April 26. In the first quarter, the company achieved revenue of RMB 99.19 million, a year-on-year increase of 7.68%; net profit amounted to RMB 59.48 million, a year-on-year increase of 32.42%, primarily driven by growth in sales revenue, interest income from wealth management products, and increased subsidy income during the reporting period.

7. Eli Lilly and Company to Begin Human Trials of Coronavirus Drug as Early as Next Month

Pharmaceutical manufacturer Eli Lilly & Co. stated that it expects to begin human trials of an experimental therapy for coronavirus disease 2019 (COVID-19) as early as next month. The therapy utilizes antibodies extracted from the blood of individuals who have recovered from the viral disease. David Ricks, CEO of Eli Lilly and Company, indicated that results from these trials could be available by late summer, and if successful, the therapy might receive emergency use authorization from the U.S. Food and Drug Administration (FDA) by early autumn. Ricks stated that this therapy is expected to “significantly reduce the viral load in patients who are about to become infected, are already infected, or are even hospitalized.” He added, “If we anticipate a surge in cases this autumn, this therapy could help eliminate the disease during that period.”

8. Successful Holding of Video Conference on Asia-Pacific Experts’ COVID-19 Experience

Amidst disruptions to global immunization programs, the “Asia-Pacific Expert Exchange on COVID-19 Experience” was successfully held. Experts from thirteen countries, including China, South Korea, Japan, Singapore, the Philippines, Australia, and India, convened via video conference. In light of the challenges facing global immunization efforts, the experts called for greater emphasis on the promotion of combination vaccines.

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