Chengda Biotech delivers its 2024 report, the three leading companies break through the impasse and build a new engine for growth

April 25, 2025  Source: drugdu 120

 

On the evening of April 23rd, Liaoning Chengda Biotechnology Co., Ltd. (hereinafter referred to as "Chengda Biotechnology" or "the Company", stock code: 688739. SH), the leader in rabies vaccines, released its 2024 annual report. In 2024, the company achieved a revenue of 1.676 billion yuan, a net profit attributable to shareholders of 343 million yuan, and a net profit not attributable to shareholders of 324 million yuan.

Chengda Biotech is a biopharmaceutical company specializing in the research, development, production, and sales of human vaccines. Its main products include human rabies vaccines and inactivated Japanese encephalitis vaccines. Since 2008, the company's human rabies vaccines have been the leading market in China, and its inactivated Japanese encephalitis vaccines are the only ones available for sale in the domestic market. The company has a rich and diverse pipeline of products under development, including human diploid rabies vaccines, quadrivalent/trivalent/high-dose influenza vaccines, 15 valent HPV vaccines, 13 valent/20 valent pneumonia conjugate vaccines, recombinant herpes zoster vaccines, multivalent hand foot mouth vaccines, Group B meningococcal vaccines, and rabies monoclonal antibodies.

Deepening the strategy of going global: effectively grasping international market opportunities and consolidating the leading position of rabies vaccine

In 2024, the international market atmosphere for human rabies vaccines has rebounded, and Chengda Biotech actively seizes international market opportunities, achieving significant growth in international sales of human rabies vaccines. The company strengthens cooperation with distributors in importing countries such as Egypt, Thailand, and Bangladesh, actively visits customers, and develops targeted sales strategies with distributors based on local market demand and competition, fully exploring international markets; At the same time, the company also strengthens the overseas registration and access work of its products, continuously develops potential markets that have not yet been entered, and actively expands into Latin American markets such as Brazil. In 2024, the company achieved domestic and international sales of 6.4 million human rabies vaccines, continuing to maintain its leading position in the domestic and international markets for human rabies vaccines. Among them, overseas revenue was 196 million yuan, a year-on-year increase of 49.47%; The overseas gross profit margin was 45.08%, an increase of 10.67 percentage points year-on-year.

In March 2025, the downstream production process technology transfer project of the company's freeze-dried human rabies vaccine (Vero cells) was officially approved by the Egyptian Drug Administration (EDA). Chengda Biotech's rabies vaccine can be exported to Egypt in two categories: finished and semi-finished products; At the same time, the company's freeze-dried human rabies vaccine (Vero cells) has officially obtained the registration approval and on-site verification approval for the finished product from the Indonesian Drug Administration (BPOM). The access to the Indonesian market marks a new breakthrough for the company in the Southeast Asian market, in addition to Thailand, the Philippines, Vietnam, and other countries, and a deep penetration into the core markets of ASEAN.

Expanding terminals and increasing sales: Enhancing the contribution of Japanese encephalitis vaccine sales and creating new growth points for performance

In 2024, Chengda Biotech will firmly implement the marketing strategy of "consolidating channels and expanding terminals", actively expand the marketing team, strengthen professional training, and actively cover and expand vaccination terminals mainly in urban community hospitals and township health centers on the basis of consolidating the traditional advantages of vaccine marketing channels. The company actively cooperates with various academic and multimedia platforms to enhance the awareness of the harm of Japanese encephalitis disease in the whole society and improve the brand awareness of the company's inactivated Japanese encephalitis vaccine; At the same time, we will continue to carry out clinical projects such as immunogenicity and safety observation of inactivated Japanese encephalitis vaccine after its launch, accumulate more clinical evidence-based data, and lay a solid scientific foundation for the promotion of inactivated Japanese encephalitis vaccine.

With the increase in the number of terminals covered by the company, the market penetration rate of inactivated Japanese encephalitis vaccine has steadily increased. The announcement shows that in 2024, the company achieved sales of 810000 units, a year-on-year increase of 21%; The sales revenue was 139 million yuan, a year-on-year increase of 29.22%, and the proportion of revenue increased, continuously contributing to the company's performance.

Re develop and expand pipelines: accelerate the promotion of key research and development projects, cultivate new growth curves

Faced with fierce market competition, Chengda Biotechnology continues to optimize its research and development management platform, actively promotes the progress of key research and development projects, and accelerates the launch of new products.

In August 2024, the company applied for drug registration and marketing authorization for the human use of the diploid rabies vaccine. The on-site registration verification work has been completed, and efforts are being made to promote the rapid launch of the human use diploid rabies vaccine; In January 2025, the company applied for drug registration and marketing authorization for the quadrivalent influenza vaccine; In March 2025, the company applied for drug registration and marketing authorization for its trivalent influenza vaccine; In September 2024, the pre IND application for high-dose influenza vaccine has been submitted, and the influenza vaccine pipeline is progressing smoothly.

At the same time, the company's HIB vaccine is conducting phase III clinical trials in an orderly manner; The 15 valent HPV vaccine has successfully completed Phase I clinical trials and will officially launch Phase II clinical trials in March 2025; The 13 valent pneumococcal conjugate vaccine and varicella vaccine are currently in phase I clinical trials; The ACYW135 quadrivalent meningococcal vaccine has obtained clinical approval and is currently undergoing various preparations before the Phase I clinical trial as planned; The preclinical research work on various investigational products such as recombinant herpes zoster vaccine, 20 valent pneumonia conjugate vaccine, multivalent hand foot mouth vaccine, Group B meningococcal vaccine, RSV vaccine, and rabies antibody drug is steadily advancing.

According to the announcement, in 2024, Chengda Biotechnology will continue to maintain a high intensity of research and development investment, with an annual R&D expenditure of 494 million yuan, an increase of 18.09% year-on-year, accounting for 29.49% of operating revenue, an increase of 5.58 percentage points from the previous year. Chengda Biotechnology stated that the company is also responsible for planning and managing R&D project expenses, as well as conducting stage audits, in order to improve the input-output ratio and value return of R&D expenses.

In addition, Chengda Biotech actively promotes the synergy between industry and financial investment, creating a second growth curve. In 2024, the company will strengthen the construction of its business expansion team, focus on innovative vaccine technology routes and heavyweight products, actively screen cutting-edge biopharmaceutical technology projects, and add new momentum to the company's sustained and steady development.

For future development, Chengda Biotechnology stated that the company will combine domestic and international efforts to consolidate its leading position in rabies vaccines, encrypt its terminal network, and expand its contribution to the sales of Japanese encephalitis vaccines; Integrate resource intensive management, accelerate the progress of ongoing projects, and promote the construction of new technology platforms; Optimize the quality management system, improve the flexibility of vaccine production, and promote cost reduction and efficiency improvement; Promote the implementation of AI big models in the company to help improve the quality and efficiency of its operations; Focus on the new track of biotechnology, steadily promote investment and mergers and acquisitions, and create a second growth curve.

By editor
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