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海西新药通过港交所聆讯 四款仿制药入选国家带量采购计划
Zhi Tong Cai Jing·2025-09-29 22:52

Core Viewpoint - Haixi New Drug is progressing with its IPO process on the Hong Kong Stock Exchange, with Huatai International and CMB International as joint sponsors [1] Company Overview - Haixi New Drug is a commercial-stage pharmaceutical company that integrates research and development, production, and sales, with a pipeline of innovative drugs under development [3] - The company has received approval from the National Medical Products Administration for 14 generic drugs and has four innovative drugs in its pipeline [3] - The company's revenue is derived from 13 approved products, primarily in therapeutic areas that account for over 25% of China's total pharmaceutical sales in 2023 [3] Business Model - The company employs a dual-track model, focusing on both generic drugs and innovative drugs in development [3] - Among the 15 approved generic drugs, four are included in the National Volume-Based Procurement (VBP) program, contributing significantly to revenue [3] Financial Performance - Revenue figures for Haixi New Drug are as follows: approximately RMB 212 million in 2022, RMB 317 million in 2023, RMB 467 million in 2024, and RMB 249 million for the five months ending May 31, 2025 [7][8] - Profit figures for the same periods are approximately RMB 69 million, RMB 117 million, RMB 136 million, and RMB 90 million respectively [7][8] - The company expects significant contributions from specific products in 2024, including RMB 146 million from Anbili and RMB 187 million from Haiweitong, with market shares of 25.7% and 59.3% respectively [3] Product Contributions - Anbili is projected to contribute RMB 146 million in 2024, ranking second in its category with a 25.7% market share [3] - Haiweitong is expected to generate RMB 187 million in 2024, leading its category with a 59.3% market share [3] - Ruian Tuo is anticipated to contribute RMB 48 million in 2024, holding a 16.7% market share [4] - Saixifu is expected to contribute RMB 44 million and RMB 19 million for the full year 2024 and the five months ending May 31, 2025, respectively [5]