Original title: Huadong Medicine’s net profit in the first three quarters fell by 20% year-on-year
On October 27, Huadong Pharmaceutical’s stock price rose, closing up 2.39% to 33.78 yuan. The company’s three quarterly report released on the evening of the 26th showed that from January to September 2021, the company achieved operating income of 25.927 billion yuan, a year-on-year increase of 1.67%, and realized a net profit attributable to shareholders of listed companies of 1.895 billion yuan, a year-on-year decrease of 20.74%. The “Girl Needle”, which has attracted the attention of the market, has received more than 100 million yuan in advance since it went public at the end of August.
According to the third quarterly report, the single-quarter net profit decline of Huadong Medicine’s core subsidiary Sino-US Huadong continued to narrow. Data show that in the first three quarters of 2021, Sino-US East China achieved operating income of 7.804 billion yuan, a year-on-year decrease of 11.4%, and realized a net profit of 1.72 billion yuan, a year-on-year decrease of 11.1%. The third quarter continued to be affected by product price cuts. The operating income for the quarter fell 12.7% year-on-year, but it achieved an increase of 2.0% quarter-on-quarter; net profit for the quarter fell 5.2% year-on-year, a 14.6% year-on-year decrease from the first quarter of 2021, and a year-on-year decrease in the second quarter. The 11.7% decline has maintained a narrowing and stabilizing trend, and has achieved an increase of 14.8% month-on-month.
The core product of the company’s medical beauty called “Girls Needle”, Yiyanshi, officially landed on the Chinese mainland market at the end of August. Since its listing, as of the date of the report, it has achieved an advance payment of more than 100 million yuan, and the number of contracted cooperative hospitals has exceeded 120. , The number of trained and certified doctors exceeds 200. Huadong Medicine expects that Yiyanshi is expected to exceed its full-year sales target, and on the basis of a good start this year, it will drive the company’s domestic medical beauty business to usher in new performance growth in 2022.
Huadong Medicine also disclosed its layout in the field of diabetes, and stated that the diabetes market will continue to be an important core area for the company to continue to increase its layout in the future. The third quarterly report shows that the application for the diabetes indication marketing license of Huadong Medicine’s GLP-1 receptor agonist liraglutide injection was accepted in September 2021, and the company is expected to become the first domestic company to obtain the production approval for liraglutide biosimilars. Business. In addition, the company has carried out a phase 3 clinical study on liraglutide injection for weight loss indications. The enrollment has been completed and the follow-up is ongoing. It is planned to start the listing application before the end of 2021. In September, Huadong Medicine granted the exclusive development, production and commercialization rights of the global innovative small molecule oral GLP-1 receptor agonist TTP273 in South Korea to Daewon Pharmaceutical of South Korea, realizing the company’s first foreign licensing cooperation for innovative products. In October, Huadong Medicine and Takeda reached a strategic cooperation on the commercialization rights of Nisina (Alogliptin benzoate), a global innovative DPP-4 inhibitor product that has been listed in China.