Core Viewpoint - Xiansheng Pharmaceutical (02096) reported strong mid-year performance, with significant growth in revenue and net profit driven by innovative drug sales [1] Financial Performance - The company achieved a revenue of 3.585 billion yuan, representing a year-on-year increase of 15.1% [1] - Adjusted net profit reached 651 million yuan, up 21.1% year-on-year [1] Innovative Drug Development - Xiansheng Pharmaceutical has launched ten innovative drugs, with innovative drug revenue of 2.776 billion yuan, a 26% increase year-on-year [1] - The proportion of innovative drug revenue in total revenue exceeded 75% for the first time, reaching 77.4% [1] - Two innovative drugs are expected to be approved for market launch in the first half of 2025, and two candidate drugs are in the NDA review stage [1] Market Expectations - CICC believes that the company's mid-year performance exceeded market expectations, primarily driven by the innovative drug business [1] - The revenue from innovative drugs in the first half of 2025 is projected to reach 2.776 billion yuan, a 26% increase, with the revenue share rising from 74.3% in 2024 to 77.4% [1] - The company anticipates that the innovative drug "Kewiko" (Daliresib) may officially launch in the second half of 2025 [1] - Three products (Suvorexant, Daliresib, and the sublingual tablet) have been included in the recent commercial insurance catalog, which is expected to further boost innovative drug revenue [1]
先声药业午前涨超6% 上半年收入增超15% 创新药收入占比首次超四分之三