Grand Pharmaceutical Reports 2022 Annual Results: Revenue and Profit Surge Over 15% Amid 38 Milestone Achievements

On March 22, Grand Pharma (0512.HK), a company listed on the Hong Kong Stock Exchange, announced its 2022 annual results. In 2022, the Company recorded revenue of approximately HK$9.56 billion, representing a year-on-year increase of 15.1% after excluding the impact of foreign exchange fluctuations. Profit attributable to equity holders of the parent company amounted to approximately HK$2.14 billion (excluding the impact of changes in fair value and disposal related to its investment in Telix), reflecting a year-on-year growth of 15.4% after excluding the impact of foreign exchange fluctuations. The Board of Directors recommended a dividend payment of 14 Hong Kong cents per share, totaling approximately HK$500 million. This marks the fifth consecutive year of dividend distributions, with cumulative dividends amounting to approximately HK$1.9 billion.

In 2022, Grand Pharma achieved double-digit growth in both revenue and profit. In terms of business operations, the company attained 38 milestone achievements across its three core sectors—pharmaceutical technology, radiopharmaceuticals for oncology diagnosis and therapy, and precision interventional diagnosis and therapy for cardiovascular and cerebrovascular diseases, as well as biotechnology—including 25 innovative products. The company invested approximately HK$2.45 billion in R&D and product development in 2022. By continuously deepening its commitment to technological innovation, Grand Pharma has gradually realized the advantages of its forward-looking innovative layout across various business segments, providing strong support for its long-term, stable development.

Over the past year, the company’s radiopharmaceutical oncology diagnosis and treatment segment achieved several significant milestones. Notably, the company’s global innovative product, Yigan Tai^®Yttrium [90Y] Microsphere Injection was officially launched in China in January 2022 and put into clinical use in May. EganTai^®It is the world’s only product indicated for selective internal radiation therapy (SIRT) in colorectal cancer liver metastases. Its successful launch in China marks the advent of a new, internationally aligned, precision interventional treatment paradigm for malignant liver tumors in the country.

More than 50 hospitals in China have completed the procedures for radionuclide transfer. Formal surgical procedures have been launched at over 30 hospitals across 17 provinces and municipalities, and seven centers for surgery, treatment, and training have been established. Follow-up results indicate that Yigan Tai^®The objective response rate for the treatment of malignant liver tumors exceeded 50%, with more than half of patients experiencing tumor shrinkage. The disease control rate among followed-up patients surpassed 95%, demonstrating significant therapeutic efficacy. With the adjustment of domestic epidemic prevention and control policies, YiganTai...^®Poised to achieve a trend of rapid growth.

Currently, Yigan Tai^®Clinical studies on the treatment of primary liver cancer conducted in the United States are progressing smoothly, and real-world studies on the treatment of primary malignant liver tumors are expected to be launched in China in 2023.

In the sector of radiopharmaceuticals for oncology diagnosis and therapy, Grand Pharma has achieved comprehensive coverage across multiple stages, including R&D, manufacturing, sales, and regulatory approvals, thereby establishing a complete industry chain. The company has built a pipeline of 13 innovative products, utilizing six types of radionuclides and targeting eight cancer types. Within the year, two of its globally innovative Radiopharmaceutical Drug Conjugates (RDCs) received approval from Chinese authorities to commence Investigational New Drug (IND) trials, while IND applications for two additional RDC drugs were accepted. Furthermore, Grand Pharma jointly established the Grand Pharma–Shandong University Institute of Radiopharmaceuticals with Shandong University to collaboratively advance the R&D of RDC drugs.

The Company stated that it will continue to strengthen R&D investment in this sector, striving to advance 10 radiopharmaceutical products into clinical stages within three years and establish a pipeline of more than 25 oncology theranostic radiopharmaceuticals, thereby further solidifying Grand Pharma’s position as a global leader in the field of oncology theranostics.

Grand Pharma's Radiopharmaceutical Product Pipeline

In the sector of precision interventional diagnosis and treatment for cardiovascular and cerebrovascular diseases, Grand Pharma is continuously deepening its layout of high-end innovative medical devices, with a current pipeline of 16 innovative products. This year, the company expanded its portfolio by adding aXess, a globally innovative endogenous tissue repair product for hemodialysis; additionally, the company’s independently developed neurointerventional product, the OTW (Over-The-Wire) intracranial balloon dilation catheter “Caiyu,”^®and Pelican occlusion balloon catheter^®Approved for market launch in China; the marketing application for NOVASIGHT, a novel intraluminal diagnostic medical imaging device, has been accepted and is expected to be approved for launch in China in the first half of this year. In addition, the company’s HeartLight X3 laser ablation platform for the treatment of atrial fibrillation previously successfully completed the first domestically authorized case of laser ablation surgery for atrial fibrillation at Ruijin Hainan Hospital, and the product has submitted a domestic marketing registration application. The phased and tiered market introduction of innovative products is expected to drive leapfrog growth in this business segment.

In addition to its strategic layout in the aforementioned innovative sectors, Grand Pharma achieved multiple milestone advancements in its various traditional core business segments in 2022.

The company’s respiratory and critical care anti-infective portfolio includes more than 10 marketed products, including Enzhuorun, an innovative combination formulation for the treatment of asthma.^®Ji En Ming Run^®Its inclusion in the National Reimbursement Drug List has further improved the accessibility of novel, highly effective asthma therapeutics for patients in China. Regarding its pipeline, the company’s independently developed global innovative product for critical care, STC3141, has obtained seven clinical trial approvals across five countries worldwide. This year, the product successfully completed three clinical trials, with both the Phase Ib trial in China for the treatment of acute respiratory distress syndrome (ARDS) and the Phase IIa trial overseas for severe COVID-19 achieving their primary endpoints. Furthermore, STC3141 is expected to complement GS221, another orally administered small-molecule 3CL protease inhibitor against SARS-CoV-2 with independent intellectual property rights developed by the company, thereby providing comprehensive coverage for mild, moderate, and severe cases of COVID-19. In addition, the Investigational New Drug (IND) application for APAD, a global innovative drug for the treatment of sepsis, has been accepted in China; this product is also poised to create synergistic effects with STC3141 in the realm of critical care.

In the emergency care sector for cardiovascular and cerebrovascular diseases, the Company continues to lay out and develop clinically urgent products covering in-hospital emergency care, pre-hospital emergency care, and public emergency care. It has reserved 24 varieties, with more than 20 products under development, ranking its product pipeline among the industry leaders. During the year, the Company’s first generic drug in China, Epinephrine Hydrochloride Injection (pre-filled syringe), was approved for marketing in China. Jext^®The pre-filled epinephrine auto-injector has obtained approval for import into mainland China from Hong Kong and Macao as a clinically urgent drug in the Guangdong-Hong Kong-Macao Greater Bay Area, which can greatly save precious rescue time for patients and fill the gap in this field in China.

In the biotechnology sector, the company positions itself as a global premium supplier of high-quality amino acids, holding over 100 invention patents and contributing to the formulation of more than 40 national and industry standards. Following its acquisition of 100% equity in Hubei Bafeng last year, Grand Pharma has become the pharmaceutical enterprise with the largest number of registered approval numbers for amino acid active pharmaceutical ingredients (APIs) in China, significantly expanding and enhancing its product portfolio in the high-quality amino acids segment. Furthermore, the company’s amino acid production base in Xiantao, Hubei Province, is scheduled to commence commercial operations this year, further increasing capacity for multiple high-quality amino acid varieties and providing sustained momentum for future profit growth in its amino acids business segment.

Grand Pharma stated that, going forward, the company will continue to uphold its development philosophy of “leveraging comprehensive advantages, driving innovation, and expanding globally.” It will persist in pursuing a differentiated global layout of innovative products and advanced technologies, ensuring steady and rapid progress in breakthrough innovations, efficient and synergistic operational management, sustainable long-term corporate growth, and a stable yet improving industry position. The company is committed to becoming a respected, internationally oriented, technology-driven pharmaceutical enterprise that earns the trust of physicians and patients while giving back to society.