#China #Shanghai #biopharmaceuticals #Henlius #Biosimilars

Henlius Reports 2024 Annual Results

In a remarkable year, Henlius (2696.HK) reported its 2024 annual results, revealing a solid revenue growth trajectory and significant net profitability. Total revenue for the year reached an impressive RMB 5.7244 billion, representing a 6.1% increase year-on-year. The company also celebrated a net profit of RMB 820.5 million, marking a substantial 50.3% growth compared to the previous year and a noteworthy net profit margin of 14.3%, up by 41.6% year-on-year. This consistent profitability reflects Henlius' strategic focus and effective operational execution, marking its second consecutive year of full-year profitability following its initial profit in 2023.

One of the primary drivers behind this profitability is the strong sales performance of core products, which accounted for a total revenue of RMB 4.9335 billion, showcasing an 8.3% increase year-on-year. Henlius is evidently benefiting from increasing commercial sales as it continues to broaden its global reach and enhance product delivery to patients worldwide. During the reporting year, Henlius also expanded its annual R&D expenditure, which increased by 28.4% year-on-year to RMB 1.8405 billion. This investment underscores Henlius' commitment to innovation and addressing unmet medical needs in a rapidly evolving healthcare landscape.

Mr. Wenjie Zhang, Chairman of Henlius, emphasized that the growth reflects a long-term commitment to strategic planning and operational efficiency. He stated, “Henlius has consistently achieved year-round profit growth, further laying a solid foundation for sustainable development.” This sentiment was echoed by Dr. Jason Zhu, Executive Director and CEO, who reiterated the company's focus on innovation and globalization as key pillars driving Henlius forward. He remarked, “By building a diversified innovation pipeline and embracing advanced technologies, we have continuously fueled innovation and unlocked sustainable growth.”

In 2024, Henlius maintained its strategic focus on oncology, particularly in high-incidence cancer areas like breast cancer, lung cancer, and gastrointestinal tumors. Its flagship product, HANQUYOU (trastuzumab), accounted for RMB 2.8100 billion in global sales revenue, reflecting a remarkable 27.0% increase year-on-year. This monoclonal antibody biosimilar has achieved approvals in over 50 countries and regions, including the U.S., Canada, and several countries across Europe, significantly expanding its commercial footprint. Moreover, Henlius' collaboration with Convalife Pharmaceuticals to develop additional breast cancer treatment options highlights its commitment to enhancing patient outcomes through innovative therapies.

Another notable product, HANSIZHUANG (serplulimab), also demonstrated impressive sales in 2024 with revenues reaching RMB 1.3126 billion, up by 17.2% year-on-year. HANSIZHUANG stands out as the first anti-PD-1 monoclonal antibody approved for first-line treatment in specific lung cancer indications, contributing to the company's growth strategy. The product’s broad approval across various countries further amplifies its potential to benefit over 100,000 patients worldwide.

Henlius has adopted a differentiated innovation strategy, boasting a pipeline of approximately 50 molecules, including monoclonal antibodies, polyclonal antibodies, and antibody-drug conjugates. The company is also leveraging cutting-edge technologies, including AI, to enhance research and development processes aimed at addressing persistent clinical challenges. Significant milestones in their product pipeline reflect Henlius' commitment to advancing global health solutions effectively.

Moreover, the company has made remarkable strides in its global strategy. In 2024, Henlius successfully executed 25 marketing applications and obtained 17 approvals across key markets like the EU, Canada, and Indonesia, thereby significantly accelerating its global expansion efforts. Meanwhile, the operational side of the business has focused on improving production capabilities and quality management, emphasizing the completion of new manufacturing facilities and strengthening supply chains.

In conclusion, Henlius showcases a robust performance in its 2024 annual results, delivering significant growth in revenue and profitability. With a strong foundation and ambitious future plans built on innovation, strategic collaborations, and a focus on addressing unmet clinical needs, Henlius is well-positioned to enhance its role in the global biopharmaceutical landscape and provide valuable treatment options for patients worldwide.

About Henlius

Henlius is a global biopharmaceutical company dedicated to providing high-quality, affordable, and innovative biologic medicines. Established in 2010, Henlius has developed a strong portfolio focusing on oncology, autoimmune diseases, and ophthalmic conditions, with a commitment to patient-centric approaches throughout its operations.