Financial Associated Press, December 13 - Huahai Pharmaceutical (600521) released a notice regarding the acceptance of its subsidiary's application for drug marketing authorization. The company's wholly-owned subsidiary, Zhejiang Huahai Biotechnology Co., Ltd., has recently received the "Acceptance Notice" issued by the National Medical Products Administration for the application for the domestic production registration of adalimumab injection. This medication is primarily used to treat rheumatoid arthritis, ankylosing spondylitis, psoriasis, and other conditions, and is classified as a Class 3.3 therapeutic biological product.

To date, the company has invested approximately 193 million yuan in research and development for this project. According to estimates from Frost & Sullivan, the sales revenue of adalimumab biosimilars in China is expected to grow from approximately 2.2 billion yuan in 2022 to approximately 4.851 billion yuan in 2023, with the market size projected to reach 11.5 billion yuan by 2030. This acceptance marks the entry of the product registration process into the review stage, and the company will actively promote subsequent related work.

In the first three quarters of 2024, Huahai Pharmaceutical achieved revenue of 7.248 billion yuan and a net profit attributable to the parent company of 1.031 billion yuan.

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