Xin Jing Bao·2025-10-13 04:23Core Insights - The "Double Ten Law" highlights the high threshold of "ten years of R&D and one billion USD" that every innovative pharmaceutical company must face, including Nocare Pharma [1][6] - Nocare Pharma's sustainable development is supported by significant R&D investments, which accounted for over 90% of its revenue in the past three years, totaling over 2.2 billion RMB [1][7] - The company has successfully transitioned from relying on external funding to achieving self-sustaining revenue through its core product, Oubatinib, which has surpassed 1 billion RMB in annual sales [1][8] Company Development - Nocare Pharma was established in 2015, focusing on innovative drug development for malignant tumors and autoimmune diseases, with several indications successfully approved for market [3] - Oubatinib, the company's first commercial product, is the first BTK inhibitor in the autoimmune disease field in China, with three indications approved and included in the national medical insurance directory by the end of 2024 [3][4] Financial Performance - In the first quarter of 2025, Nocare Pharma achieved a significant milestone by recording its first quarterly profit, with revenue of 381 million RMB, a year-on-year increase of 129.92% [8] - The company reported a net profit of 18 million RMB, a substantial improvement from a loss of 142 million RMB in the same period last year [8] Business Development - Nocare Pharma has engaged in strategic business development (BD) partnerships to enhance its profitability, including a collaboration with Prolium that could yield up to 5.025 billion RMB in milestone payments [8][9] - A recent licensing agreement with Zenas BioPharma for Oubatinib and two preclinical assets could generate over 2 billion USD in total, marking a record for small molecule licensing in China's autoimmune field [9]