(April 29, 2024, Shanghai China) On April 29, 2024, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma” or “the Group”, Stock Code: 600196.SH, 02196.HK),a global innovation-driven pharmaceutical and healthcare industry group, announced its operating performance for the first quarter of 2024 (the "Reporting Period").
In the first quarter of 2024, Fosun Pharma achieved operating revenue of RMB10.157 billion, with rapid growth in revenue from key innovative products and continued optimization of revenue structure. During the Reporting Period, the net cash flows from operating activities increased by 5.05% period-on-period to RMB917.00 million.
Accelerated commercialization of innovative products, benefiting more patients worldwide
In the first quarter of 2024,Fosun Pharma obtained market approval for multiple innovative products, benefiting more patients in China. Among them, the rabies vaccine (Vero cell) for human use (freeze dried), which is independently developed by the Group, has been approved for launch in Chinese mainland. The vaccine is in freeze-dried injectable form and the gene sequence of the CTN-1V strain used in its production is closer to the currently prevalent street strains of the rabies virus, demonstrating good safety and better immune protection effect. Fosun Pharma's independently developed F-i6000 fully automated chemiluminescence immunoassay analyzer also received approval for launch. The F-i6000 is a high-speed immunoassay analyzer for which the Group has complete intellectual property rights. It can be integrated into laboratory automation systems, providing comprehensive solutions.
The export of innovative products independently developed by Fosun Pharma achieved further breakthroughs.In April 2024, the trastuzumab for injection (trade name in Chinese mainland: Han Qu You) was approved by the U.S. FDA for launch, and is used for the adjuvant therapy for HER2-expressing breast cancer, the therapy for HER2-expressing metastatic breast cancer, the therapy for HER2-expressing metastatic gastric adenocarcinoma or gastroesophageal junctional adenocarcinoma, which become the first domestic biosimilar approved in China, the EU and the United States. Up to now, Han Qu You has been approved for launch in over 40 countries and regions over the world, benefiting more than 180,000 patients worldwide.
During the Reporting Period,Fosun Pharma actively introduced international leading technologies and products into the Chinese market, continuously deepened localization, and better served Chinese patients and customers.In March 2024, the Ion Bronchial navigation operation control system (“Ion system”) developed by joint venture Intuitive Fosun was approved byNational Medical Products Administration (NMPA). The Ion System has adopted a flexible robot with shape sensing technology, which can accurately diagnose and treat peripheral lung lesions through the bronchus. The approval is a further progress in Intuitive Fosun’s efforts to create a localized surgical robot ecosystem and make high-quality medical services more accessible following the launch of the domestic Da Vinci Surgical Robot, helping more lung cancer patients obtain early diagnosis and treatment through more minimally invasive methods.
Meanwhile,Fosun Pharma continued to promote the commercialization process of marketed products, including Bei Wen (keverprazan hydrochloride tablets), the first potassium ion competitive acid blocker (P-CAB) independently developed in China, Pei Jin (telpegfilgrastim injection), a long-lasting recombinant human granulocyte colony-stimulating factor product, Pang Bi Fu (etelcalcetide hydrochloride injection), the new generation of calcimimetic, and Yi Xin Tan (sacubitril valsartan sodium tablets), the drug for the treatment of heart failure and hypertension in an innovative crystalline form. In particular, Bei Wen, Pei Jin and Yi Xin Tan have been included in the National Medical Insurance Drugs Catalogue. During the Reporting Period, Yi Kai Da (ejilunsai injection) introduced an innovative payment plan based on therapeutic effects in Chinese mainland, exploring a new path for payment mode of high-value innovative drugs in China.
Continued to Promote Pipeline and Innovation Transformation
During the Reporting Period,several products have successively entered the key clinical/approval stage.The combination dosing of OP0595 and cefepime or aztreonam, developed by Fosun Pharma in collaboration with Meiji Seika Pharma Co., Ltd., for the treatment of adults infected by aerobic gram-negative bacteria with limited options, had commenced two phase III clinical trials in China. The supplemental application of self-developed Han Da Yuan (adalimumab injection) for four new indications was accepted by NMPA, namely, polyarticular juvenile idiopathic arthritis, pediatric plaque psoriasis, Crohn’s disease and pediatric Crohn’s disease.
In January 2024, Intuitive Fosun's Da Vinci endoscopic single-port (SP) surgical system was included in the Special Review Procedures of Innovative Medical Devices of NMPA, which will help accelerate the review process for the subsequent registration and approval.
In addition, in April 2024, the Phase III clinical trial of international multi-center of Fosun Pharma’s self-developed denosumab biosimilar HLX14 (recombinant anti-RANKL fully human monoclonal antibody injection) for the treatment of osteoporosis in postmenopausal women with high risk of fractures has met the primary endpoints.
Launched the RMB5 billion Shenzhen Biomedical Industry Fund to actively promote the high-quality development of the healthcare industry in the Greater Bay Area
During the Reporting Period, Fosun Pharma signed partnership agreements with the Shenzhen Guidance Funds to jointly establish Shenzhen Pengfu Biopharmaceutical Industry Private Equity Investment Fund Partnership Enterprise (Limited Partnership) (referred to as “Shenzhen Biomedical Industry Fund”). The Shenzhen Biomedical Industry Fund has raised RMB5 billion; among them, the Group has made contributions of RMB1.5 billion in cash (hold a total of 30% of the its asset portion) to subscribe for Shenzhen Biomedical Industry Fund’s asset portion; and Fosun Pharma’s subsidiary Fujian Fund Management Company is served as the fund manager of the Shenzhen Biomedical Industry Fund. Centering on Shenzhen, the establishment of the Shenzhen Biomedical Industry Fund will focus on biopharmaceutical and promote the high-quality development of the healthcare industry in the Greater Bay Area.
Looking forward, Fosun Pharma will continue to commit to its mission of “Better Health for Families Worldwide” and adhere to the development model of “Innovation Transformation, Integrated Operation and Steady Growth”, so as to further enhance its establishment of core competence in innovation, commercialization, and global operation to improve its operating results, as well as to actively explore and promote the transformation of source innovation results and lead the high-quality development of the pharmaceutical industry.
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Founded in 1994,Shanghai Fosun Pharmaceutical (Group) Co., Ltd.*("Fosun Pharma"; stock code: 600196. SH, 02196. HK) is a global innovation-driven pharmaceutical and healthcare industry group. Fosun Pharma directly operates businesses including pharmaceuticals, medical devices, medical diagnosis, and healthcare services. As a shareholder of Sinopharm Co., Ltd., Fosun Pharma expands its areas in the pharmaceutical distribution and retail business.
Fosun Pharma is patient-centered and clinical needs-oriented. The company continuously enriches its innovative product pipeline through independent research and development, cooperative development, license-in, and in-depth incubation. Fosun Pharma improves the research and clinical development capabilities of FIC (First-in-class) and BIC (Best-in-class) new drugs as well as accelerates the R&D and launch of innovative technologies and products. Fosun Pharma’s innovative products mainly covered core therapeutic areas such as tumors (solid tumors and hematologic tumors), immunology, central nervous system, and chronic diseases (liver disease/metabolism/kidney disease).
Guided by the 4IN strategy (Innovation, Internationalization, Intelligentization, and Integration), Fosun Pharma will uphold the development model of “Innovation Transformation, Integrated Operation and Steady Growth", with the mission of creating shareholder values through strengthening its independent R&D and external cooperation and enriching its product pipelines, as well as promoting the global networks and enhancing operational efficiency. Fosun Pharma will actively promote key business and rapidly enhance operational and asset efficiency, and is committed to becoming a first-class enterprise in the global major pharmaceutical and healthcare market.
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