In the tide of the capital market, the performance of enterprises is like a beacon, guiding the direction of investors. The 2024 annual performance profit forecast announcement of Sinocell undoubtedly brought a touch of light to many followers.

Recently, Sinocell officially released the 2024 annual performance profit forecast announcement. As a leading company in China's biopharmaceutical industry, Sinocell has achieved significant performance growth in the past year:

the company expects to achieve revenue of 2.48 billion yuan to 2.54 billion yuan during the reporting period, a year-on-year increase of more than 30%; net profit attributable to the owners of the parent company is expected to be 0.9 billion yuan to 1.3 billion yuan; net profit attributable to the owners of listed companies after deducting non-recurring gains and losses is expected to be 450 million yuan to 490 million yuan.

So far, all three major performance indicators of Sinocell are expected to achieve positive growth, and it is expected to turn losses into profits for the first time throughout the year, which also makes it expected to become one of the Biotech companies that have removed the "U" logo on the Science and Technology Innovation Board.

Core explosive products

In the field of biopharmaceuticals, the success of a core product can often be the key to a company's breakthrough. For Sinocell, the outstanding sales performance of Anjiayin® (recombinant human coagulation factor VIII) is undoubtedly the key factor for it to turn losses into profits in 2024.

Since its first approval in 2021, Anjiayin® has quickly dominated the market with its strong production capacity and cost advantages. In 2023, the sales of this product reached 1.78 billion yuan, a year-on-year increase of more than 77%, and it has achieved the first market share of similar products. It is expected to break the 2 billion yuan mark in 2024 and become the star product of Sinocell. In 2024, Anjiayin® continued to maintain a strong sales momentum, driving the overall revenue of Sinocell to grow significantly.

The success of Anjiayin® is first reflected in its strong market competitiveness. As the first domestically developed third-generation recombinant human coagulation factor, Anjiayin® broke the long-term monopoly of foreign products and filled the gap in China . Its birth is a major breakthrough in China's hemophilia treatment field, marking the improvement of China's biopharmaceutical research and development and innovation capabilities, and also reshaping the pattern of hemophilia treatment in China.

It is worth mentioning that its production line is designed to produce 10 billion international units (IU) per year, which is close to the total output of dozens of manufacturers around the world. This not only meets the needs of Chinese patients, but also provides broad space for overseas market expansion. In addition, the cost advantage of large-scale production makes Anjiayin® more competitive in the market, and its pricing is lower than that of imported products, further reducing the cost of medication for patients.

Secondly, the sales growth of Anjiayin® has brought significant revenue contribution to Sinocell. From 2021 to 2023, the compound annual growth rate of Anjiayin® revenue exceeded 260%, becoming the main source of revenue for the company. In the first half of 2024, Sinocell achieved operating income of 1.305 billion yuan, a year-on-year increase of 61.45%, among which the contribution of Anjiayin® was particularly outstanding. This strong sales performance not only improved the company's asset-liability structure, but also provided financial support for the research and development and market promotion of other products.

In addition, the success of Anjiayin® also laid the foundation for Sinocell's internationalization strategy. Sinocell has cooperated with partners in the "Belt and Road" region to further expand overseas markets. This international layout not only helps to enhance the company's global influence, but also provides new impetus for continued growth in the future.

However, the success of Anjiayin® is not without challenges. Intensified market competition and the pressure of price reduction in centralized procurement have put higher demands on the market share and profit margin of products. However, Sinocell has ensured that Anjiayin® won the bid for centralized procurement in key provinces through flexible market strategies, further consolidating its market position.

The next growth curve As

China's leading innovative biopharmaceutical research and development company, Sinocell has built a rich product pipeline with its deep technical accumulation in the fields of recombinant proteins, monoclonal antibodies and vaccines. Its product layout covers not only the core products that have been launched on the market, but also innovative drugs and biosimilars at different stages of research and development.

In addition to Anjiayin®, other products that have been launched on the market, such as Anpingxi, Anjiarun and Anbezhu, have been approved one after another .
Anpingxi® was approved for marketing in August 2022 and is the second listed biological drug of Sinocell after Anjiayin®. In clinical studies, the product showed the same efficacy as imported rituximab, but with better safety, significantly reducing the incidence of adverse reactions of interstitial lung disease and pulmonary inflammation.

According to the data, Anpingxi® has been included in the 2023 national medical insurance catalog, and the medical insurance implementation cycle will start in January 2024, which will help the terminal volume of the product. As a domestic innovative drug, Anpingxi® is expected to occupy an important share in the biosimilar market.

The pipeline of products under development covers a number of innovative drugs, involving multiple therapeutic areas such as tumors, autoimmune diseases, and infectious diseases.

SCT-I10A (PD-1 monoclonal antibody)

SCT-I10A is an anti-PD-1 monoclonal antibody independently developed by Sinocell, mainly used to treat malignant tumors such as liver cancer and head and neck cancer. The drug's indications for head and neck cancer and liver cancer are currently in the stage of listing application. In addition, SCT-I10A is also used in combination with bevacizumab (SCT510) for the treatment of unresectable or metastatic hepatocellular carcinoma, and its application for listing of the combination therapy has also been accepted.

SCT1000 (14-valent HPV vaccine)

Sinocell's 14-valent HPV vaccine is one of the earliest similar products to enter the clinical stage in the world, and is currently in the Phase III clinical stage. The vaccine covers more HPV virus subtypes and is expected to play an important role in preventing cervical cancer and other related diseases.

SCT650C (IL-17 monoclonal antibody)

SCT650C is an IL-17 monoclonal antibody for autoimmune diseases, which has been advanced to the clinical stage in Australia. The drug is expected to provide a new treatment option for patients with autoimmune diseases such as psoriasis.

SCTC21C (CD38 monoclonal antibody)

SCTC21C is an innovative antibody drug for CD38+ hematological malignancies, which was approved for clinical trials in January 2024. The drug enhances the killing effect on CD38+ tumor cells by modifying the Fc segment, and preclinical studies have shown that it has good pharmacokinetics and safety.

In addition, Sinocell has also deployed a number of innovative drugs in the early stages of research and development, including bispecific antibodies (such as SCTB35). The research and development of these drugs further enriches its innovative drug pipeline and demonstrates Sinocell's strong research and development capabilities in the field of biopharmaceuticals.

Conclusion

Sinocell's success has set a benchmark for China's biotech industry, proving that through continuous innovation and efficient commercial operations, biopharmaceutical companies can stand out in the fierce market competition. In the future, as more products of Sinocell are launched and its pipeline is advanced, it is expected to continue to maintain its strong growth momentum and further consolidate its leading position in the biopharmaceutical field.

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