Sino Biopharm profit surges 427.2% year-on-year

Sino Biopharmaceutical Limited, or Sino Biopharm, a leading innovative research and development-driven pharmaceutical conglomerate in China, announced in its annual result report released on Thursday that its profit surged by 427.2 percent year-on-year in the 2021 fiscal year ended December 31.

The company recorded record-high revenues of about 26.86 billion yuan ($4.51 billion) during the period, increasing 13.6 percent from a year ago. The profit attributable to the owners of the parent company was about 14.61 billion yuan, with a significant increase of 427.2 percent year-on-year, and the adjusted net profit attributable to the parent company was 2.93 billion yuan, growing 26.6 percent year-on-year.

Innovative medicines accounted for 24 percent of its revenues, and by the end of 2024, 10 new innovative drugs are expected to be launched to the market to further consolidate the company's leading position in the industry, the company said.

Sino Biopharm has a capital reserve of more than 20 billion yuan, showing a sound and stable fiscal structure, and high-quality innovation has become an important driving force for its strong development, according to the annual result report.

In 2021, the company invested 3.82 billion into research and development, with a year-on-year increase of 34.5 percent. Its revenue in 2021 increased by 3.2 billion yuan from a year ago, among which 620 million yuan came from growth in the innovative medicine sector. A total of 24 percent of the overall revenues, or 6.4 billion yuan, were generated by three innovative drug products --- Anlotinib Hydrochloride Capsules, Magnesium Isoglycyrrhizinate Injection and Penpulimab Injection.

The good performance in 2021 was mainly powered by the new products launched in the past five years, which together generated revenues of 12.1 billion yuan, or a record high of 45.1 percent of the total. Three major business units, respectively anti-tumor, cardiovascular and cerebrovascular, and respiratory, have made remarkable contributions. The revenues of anti-tumor products, accounting for 34.3 percent of the total, reached 9.22 billion yuan, with a year-on-year increase of 21 percent.

INVOX, its wholly owned subsidiary in Europe, will continue to search for investment opportunities, while propelling the group company's internationalization based on strategies involving breakthrough innovation platform, advanced delivery platform and global license transactions, the company said.

Theresa Tse, chairwoman of Sino Biopharm, said the company will continue to comprehensively promote the strategies of R&D innovation, internationalization, and digitalization, to foray into more clinical fields with unmet demand.

With continuous improvement in the management structure, stable financial management and abundant cash flows, the company is capable to balance well between innovation and risk control, to ensure long-term development as a leading company while the pharmaceutical industry is undergoing transformation, she added.

liuzhihua@chinadaily.com.cn