Since August, innovative drug companies listed on the STAR Market have started unveiling their interim reports for 2024. As of the press time on August 26, more than 20 innovative drug companies listed on the STAR Market have released their semi-annual financial data. In the first six months, these businesses collectively reported a total revenue of RMB 28.4 billion, marking a substantial year-on-year increase of 69.21%. The net profit attributed to the parent company amounted to RMB 1.49 billion, shifting from a loss to a profit when compared with the same period last year, with more than half of these companies witnessing improved profitability.
In general, innovative drug companies listed on the STAR Market are swiftly translating their clinical strength into earning power through commercialization or making licensing deals both domestically and internationally. Overall, their performance is trending strongly upwards.
While picking up the pace in commercialization, innovative drug companies listed on the STAR Market remain committed to high R&D investment and facing challenges in innovation head-on. For the 20 plus STAR-listed innovative drug companies that have disclosed interim data, a total of approximately RMB 11 billion in R&D was reported during the first half of the year, which represents a year-on-year increase of nearly 10%.
Notably, policies favoring innovative drug business have been introduced in Beijing, Shanghai, and Guangzhou since February, which cover crucial stages such as R&D, drug review and approval, and its application and promotion. These policies, particularly those aimed at encouraging the use of innovative products in hospitals and increasing medical insurance payment support, are anticipated to trigger significant improvement on the payment side for innovative drug industry.
Industry insiders believe that the STAR Market's innovative drug sector is poised to further unleash its growth potential with the support of these policies.
The above information is provided for reference purposes only and does not constitute investment advice.
