On the evening of October 28, Hengrui Medicine (600276) announced its performance report for the third quarter of 2022. In the first three quarters, the company achieved an operating income of 15.945 billion yuan, a year-on-year decrease of 21.06%, and a net profit of 3.173 billion yuan, a year-on-year decrease of 24.57%. It is worth noting that the company’s operating income in the third quarter was 5.717 billion yuan. Although it still fell year-on-year, it increased by 20.38% compared with the second quarter of this year.
Under the complex and severe internal and external environment, the biopharmaceutical industry is still in the “pain” period of transformation and development.
Industry insiders believe that in the face of many challenges, Hengrui Medicine adheres to the two-wheel-driven development strategy of innovation and internationalization, continues to invest heavily in research and development, and accelerates the launch of innovative results. develop.
R&D investment in the first three quarters exceeded 4.5 billion yuan
Since the beginning of this year, Hengrui Medicine has continued to increase investment in research and development, with research and development expenses reaching 3.498 billion yuan in the first three quarters. In addition to the new development expenditure in this period, it is estimated that the company’s R&D investment exceeds 4.5 billion yuan.
In July this year, Hengrui’s 11th listed innovative drug and the first domestically developed androgen receptor (AR) inhibitor, Ariane (Revelutamide Tablets), issued the first prescription in the country. 700 prescriptions were issued in 30 provinces and municipalities, bringing new treatment options to patients with metastatic hormone-sensitive prostate cancer (mHSPC) with high tumor burden in my country.
In terms of the application of innovative drugs and new indications, in July this year, the application for marketing authorization of the innovative drug SHR8554 injection for the treatment of moderate and severe pain after abdominal surgery was accepted. At present, there is no similar drug on the market in China; it has obtained 2 important drugs in the field of breast cancer. Pounds of progress, innovative drug Dalcitinib for the treatment of hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative locally advanced or metastatic breast cancer, and innovative drug pyrotinib for HER2-positive, advanced stage Drug marketing authorization applications for recurrent or metastatic breast cancer who have not received anti-HER2 therapy have been accepted by the State Food and Drug Administration.
At present, Hengrui Medicine has listed 11 innovative drugs, ranking among the top in the domestic industry. More than 60 innovative drugs are under clinical development, and more than 260 clinical trials are being carried out at home and abroad.
During the reporting period, Hengrui Medicine has made a number of progress in its innovative drug projects, including a product to be included in the list of breakthrough treatment varieties.
Specifically, the innovative drug camrelizumab combined with famitinib in the first-line treatment of recurrent or metastatic non-small cell lung cancer is planned to be included in the publicity list of breakthrough treatment varieties; Hengrui Medicine’s self-developed antibody targeting HER2 A total of 2 clinical trials of SHR-A1811 for drug conjugate (ADC) injection have been approved, namely: in combination with SHR-1701 for the treatment of HER2-positive advanced gastric or gastroesophageal junction adenocarcinoma, and in combination with pyrotinib or adenocarcinoma Belimumab (SHR-1316) is used in clinical studies of HER2-abnormal advanced non-small cell lung cancer; in addition, the innovative drug SHR-1701 is used in combination with EGFR-mutated recurrent or advanced non-small cell lung cancer, and the innovative drug SHR-1802 is combined with Clinical studies of adebelimumab (SHR-1316) in the treatment of advanced solid tumors have also been approved successively.
The senior management team adds “fresh blood”
Following the appointment of the general manager of the company, the senior management team of Hengrui Medicine was adjusted again in the third quarter of this year. He Feng, who has been engaged in research and development in the pharmaceutical industry for more than 20 years and has both Hengrui gene and global R&D background, was newly appointed as the deputy general manager of Hengrui Medicine. Hengrui said that the appointment of the new deputy general manager of R&D will help the company to further input “fresh blood” on the basis of ensuring the continuity and stability of innovative R&D.
In terms of employee incentives, the previous announcement disclosed that 12 million shares for the company’s 2022 employee stock ownership plan have been repurchased, and the employee stock ownership plan is progressing smoothly. It is expected that more than 1,000 employees will receive no more than 12 million shares. excitation. This employee stock ownership plan, which takes innovative drug business as an assessment item, is also generally interpreted by the outside world as Hengrui’s innovative drug planning goal in the next few years, demonstrating Hengrui’s confidence and determination in innovation.
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