Gree Pharmaceuticals, the first unprofitable biopharmaceutical company on the Hong Kong Stock Exchange, announced its full-year results.
In midday on March 24, Gree Pharmaceutical-B (01672.HK) released its 2019 performance report. The financial report shows that in 2019, Gree Pharmaceutical’s revenue reached 173 million yuan, a slight increase of 4.3% from last year, and the group owner’s loss expanded to 95.97 million yuan, a cumulative increase of 1222.3% from last year. As of the close of the day, Gree Pharmaceuticals fell 2.55% and the stock price closed at 2.67 Hong Kong dollars.
According to the financial report, in the main income composition, different from the first year after the listing, “product sales” has become the core composition of Gree Pharmaceuticals, which is used for the treatment of hepatitis C. Wei) generated sales of about 124 million yuan in 2019, a year-on-year increase of 72.2%. Peloxin, which is used to treat hepatitis C and B, also generated promotion revenue of approximately 47.6 million yuan in 2019. Compared with 2018, promotion revenue increased by 1271.3% year-on-year.
Gree Pharmaceutical entered the Hong Kong Stock Exchange in August 2018. It is the first unprofitable biopharmaceutical company listed on the Hong Kong Stock Exchange. R & D and Commercialization. On the day of the listing, the opening price of Gree Pharmaceuticals was HK $ 14.8, and it has fallen by more than 80% to this day.
In the “ The first unprofitable biotechnology stock landed on the Hong Kong Stock Exchange, and the research and development capability of” Gree Bio ” In the article “How on earth “, we mentioned that in the research and development system of Gree Pharmaceuticals, the combined oral solution of Danoprevir and Ravidasivir is the original DAA of China The all-oral regimen is also currently the main treatment regimen for hepatitis C worldwide.
Danoprevir, as the first domestically produced hepatitis C DAA drug, has been successfully launched on the market and has generated 124 million in revenue. According to the speculation of Ping An Securities, the second product, Lavidavir, is applying for listing, and it is expected to be listed for sale in the first half of 2020, which will bring new increments to the company.
The latest research and development progress of Gree Pharmaceutical’s product line, source: the company’s 2019 performance report
“R & D capability” is the core competition of biotechnology companiesforce. The research and development cost of Gree Pharmaceutical in 2019 decreased compared to the same period last year, reaching 126 million yuan, the clinical trial expenditure rose to 62.71 million yuan, and the cost of third-party contracting dropped significantly.
Based on the product line, Lavinoda’s R & D costs have been reduced to 47.77 million yuan due to the listing process. ASC09 (HIV protease inhibitor) has entered the second-phase clinical stage and the R & D costs have increased to 10.01 million yuan. At the same time, clinical trials of ASC09 compound tablets and ritonavir-initiated patients with new crown virus infections initiated by medical institutions and R & D personnel have been conducted in Wuhan and Zhejiang respectively. According to analysis by Ping An Securities, it may become an effective anti-coronavirus. drug.
In the process of commercialization, Gree Pharmaceuticals set up a commercialization team of about 155 people in 2019, covering about 1,000 hospitals and pharmacies in a wide range of hepatitis B and C regions in China, and delivered directly through distributors (DTC) Enter pharmacies and hospital-related pharmacies.
In 2020, Gree Pharmaceuticals will continue to invest in four directions: exclusive management of hepatitis C and maximizing sales, promotion of Paroxin for immunotherapy for hepatitis B, creation of exclusive management of hepatitis B that can achieve clinical cure, and establishment of a leading NASH combination.