News from Beijing News (Reporter Zhang Xiulan) On February 24, Zejing Pharmaceutical announced its 2021 performance report. While revenue increased by more than 600% year-on-year, it lost 414 million yuan. The growth of R&D investment and the investment in the expansion stage of the company’s drugs in the early stage of commercialization have become important reasons for the loss.
The main business of Zejing Pharmaceutical is the research and development of new chemical drugs and new biological drugs. The company focuses on innovation-driven chemical and Development and production of new biological drugs. During the reporting period, Zejing Pharmaceutical achieved revenue of 201 million yuan, a year-on-year increase of 627.04%, and a loss of 414 million yuan. The increase in revenue was mainly due to the approval of Donafenib Tosylate Tablets, the first class 1 new drug of Zejing Pharmaceuticals, in June 2021 to obtain drug sales revenue. Donafenib Tosylate is also the first small molecule targeted innovative drug for first-line treatment of liver cancer developed and marketed by a Chinese pharmaceutical company. In the previous year, the company’s revenue was only revenue from licensing and licensing of products under development, sales of a small amount of intermediates, and revenue from technical services.
The growth of R&D investment and the investment of the company’s drugs in the pre-marketing and commercialization expansion stage have become the important reasons for Zejing Pharmaceutical’s losses. During the reporting period, a number of the company’s innovative drugs were in the key clinical trial stage, and the R&D investment reached 502 million yuan, a year-on-year increase of 59.75%. At the same time, the company is in the pre-expansion stage of drug listing and commercialization, and needs to invest a lot of pre-expansion and academic promotion expenses.
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