3SBio announces 2022 annual results, with revenue rising 7.5% year on year and normalized net profit attributable to parents jumping 25.2%

HONG KONG, March 21, 2023 /PRNewswire/ -- Chinese leading biopharmaceutical company 3SBio (01530.HK) today announced its 2022 annual results. In 2022, 3SBio's core biopharmaceutical products posted robust growth, hair health business achieved blistering performance, and contract development and manufacturing organization (CDMO) business demonstrated big potential. New drugs started to embrace a commercialization wave, and license-out and license-in partnerships geared up. Revenue in 2022 increased by 7.5% year on year to approximately RMB 6.90billion. Gross profit rose 7.5% year on year to approximately RMB 5.67 billion. The normalized earnings before interest, taxes, depreciation and amortization (EBITDA) were approximately RMB2.80 billion, an increase of 27.7% over the same period last year. The normalized net profit attributable to owners of the parents was approximately RMB2.16 billion, a rise of 25.2% over the same period last year. The solid performance growth supported a sustainable dividend policy. According to the resolution of the board of directors, 3SBio will pay a dividend of HKD0.1. This year marked the 30th anniversary of 3SBio. On top of steady financial performance growth, the Company has been delivering on its corporate social responsibility and constantly improving environmental, social and governance (ESG) management. In 2022, 3SBio improved from A to AA on the MSCI ESG rating, surpassing 88% of the world's biotechnology companies. In the future, 3SBio will further expand its advantages as an integrated platform for research and development (R&D), manufacturing, commercialization and external partnerships, and consolidate and enhance its status as a leading biopharmaceutical company.

Core biopharmaceutical products posted robust performance

In 2022, the Company's core products (TPIAO, Yisaipu, EPIAO/SEPO, Mandi) maintained their leadership in the Chinese market, and Cipterbin saw a significant rise in its sales. According to IQVIA data, sales of TPIAO, the world's only commercial recombinant human thrombopoietin (rhTPO) used to treat thrombocytopenia, totaled RMB 3.40 billion in 2022, a year-on-year increase of 10.3%. In 2022, TPIAO achieved a renewal in the National Reimbursement Drug List (NRDL) and it was listed with the highest-level recommendation by the Chinese Society of Clinical Oncology (CSCO) Clinical Guidelines for the Diagnosis and Treatment of Cancer Therapy Induced Thrombocytopenia (CTIT) (2022 Edition). As the leaders in the recombinant human erythropoietin (rhEPO) market for 20 years, EPIAO and SEPO maintained their leading position, with sales of RMB 1.13 billion in 2022, maintaining a dominant market share of 44.5%. Sales of Yisaipu for the treatment of rheumatoid arthritis, ankylosing spondylitis and psoriasis were RMB 512 million. Its safety and efficacy have been verified in the Chinese market for 18 years. Compared with developed countries in Europe and the United States, the penetration rate of biologic anti-rheumatic drugs in China's mainland is still low, and the product has broad growth potential in the future. Sales of Cipterbin for the treatment of HER2-positive metastatic breast cancer were RMB 159 million, an increase of 138.1% year on year, and the number of hospitals and patients covered had a significant rise compared with 2021. In 2022, Cipterbin was successfully renewed in the NRDL and the reimbursement restrictions for its use in combination with vinorelbine were abolished. The CSCO Clinical Guidelines for the Diagnosis and Treatment of Breast Cancer (2022 Edition) listed Cipterbin with the highest-level Class I recommendation for the treatment of patients with HER2-positive advanced breast cancer.

Hair health business achieved blistering growth