Realizeed Record profit of HK$39.4 million
Driven by scale-up operations and remarkable growth in marketed drugs
Extension of several channels
and diversified marketing of new products
HONG KONG SAR – EQS Newswire – August 28, 2023 – A fully integrated biopharmaceutical company –
Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its interim results for the six months ended June 30, 2023 (the “Period”).
Key achievements in the first half of 2023
During the period, the Group achieved a series of achievements, both for its marketed products and for its innovative biological products. Key highlights include:
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Group revenue recorded a remarkable year-on-year (“YoY”) increase of 27.8% to approximately HK$249.9 million. Pinup® and GeneTime® generated remarkable sales, sales of Pinup® and GeneTime® recorded a significant increase of 26.6% year-on-year and 31.8% year-on-year respectively.
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The Group recorded a profit of approximately HK$39.4 million for the period, representing a dramatic year-on-year increase of 169.2%. The profit is mainly due to its main scaling operations and the remarkable organic growth of marketed drugs.
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Rigorous verification of the Bogutai® registration site by the China Center for Food and Drug Inspection (“CFDI”) has been successfully completed. With the last set of documents submitted at the end of May 2023, the Group expects Bogutai® to be approved for commercialization in the second half of this year. Bogutai® is the first PTH liquid made in China to use a disposable injector pen, which will be the Group’s fifth marketed and self-developed medicine.
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In May 2023, the Group achieved a revolutionary milestone with the successful launch of Fibronectin, the first product derived from the Group’s advanced raw material for skincare. This high potency small molecule recombinant human fibronectin is the result of a joint development effort between the Group and Global Cosmetics. In addition, the Group is diligently exploring various commercialization opportunities for Fibronectin, with the aim of unlocking its full market potential.
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The Group established the “Innovative Medicine and Advanced Biopeptide Technology R&D Center” in Beijing, which brings together the latest advances in bioinformatics technology, genetic engineering and oral formulation techniques, heralding a new era in the biosynthetic polypeptide drug industry.
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The Group has completed the validation of the production process for Diquafosol Sodium eye drops and plans to conduct stability studies as well as submit the registration application in the second half of 2023.
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The formulation development of the oral Uni-GLP-1 form was successfully completed and the results showed that its bioavailability was superior to that of the positive control oral semaglutide. Currently, formal animal studies in the BaMa miniature pig are being prepared to further validate the bioavailability and pharmacokinetics of the oral Uni-GLP-1 form in animals.
Intermediate results
For the period, the Group recorded revenue of approximately HK$249.9 million, representing a significant year-on-year increase of 27.8%. The increase in sales is mainly attributable to the remarkable growth in sales of its marketed drugs, namely Pinup®, GeneTime® and GeneSoft®. Pinup® recorded a notable 26.6% increase in revenue from approximately HK$98.5 million to approximately HK$124.7 million during the period. This increase is attributable to the continued momentum in sales of hospital orders after the end of the last national centralized purchase in April 2023, as well as ongoing targeted academic promotions within the medical community. During the period, revenue generated by GeneTime® was approximately HK$95.9 million, an increase of 31.8% year-on-year. This increase is attributable to the expansion of the hospital network and the improvement of production capacity last year, which led to improved efficiency and production. The Group has also strengthened its marketing system by placing strategic emphasis on academic promotions aimed at healthcare professionals. GeneSoft® recorded an increase in revenue from approximately HK$17.8 million to approximately HK$22.3 million, an increase of 25.7%. The remarkable revenue growth is mainly attributable to the efforts of the Group’s direct sales team to expand both its hospital network and its academic promotion channels.
Gross margin was approximately HK$198.9 million, an increase of 37.6% compared to the first half of 2022. Gross profit margin increased by 5.7 percentage points compared to the previous year to reach 79.6%, due to improved economies of scale and supplier optimization strategies. The Group maintained strict control of general and administrative expenses, which represented only 9.4% of sales for the period compared to 12.1% for the same period last year. Selling and distribution expenses for the period increased to 50.5% of revenue from 43.5% for the same period last year, primarily due to increased Pinup® marketing promotion expenses this year and the strengthening of the sales team recruited for the launch of Bogutai®. R&D expenditure decreased by 51.7% year-on-year to approximately HK$11.7 million due to the completion of several clinical trials and the capitalization of development expenditure.
Group profit for the period increased extraordinary from approximately HK$14.6 million in the first half of 2022 to approximately HK$39.4 million in the first half of 2023, reflecting an impressive increase by 169.2%. This record profit is mainly due to the Group’s main scale-up operations and the remarkable organic growth of marketed drugs, demonstrating the Group’s progress towards profitable growth.
Outlook
With the recent moderation in centralized drug supply, the biopharmaceutical industry will experience marginal improvement and, in the long term, rising income levels, an aging population and increased healthcare awareness will continue to support the growth of the biopharmaceutical industry. The Chinese government has also prioritized healthcare delivery, focusing on implementing policies such as Healthcare China 2030. This initiative aims to strengthen healthcare technology innovation and improve overall quality. health services across the country. According to Statista, China’s healthcare market is expected to maintain robust growth, with an expected compound annual growth rate (CAGR) of 8.8% from 2023 to 2027, reaching a substantial US$26.8 billion. in 2027. User penetration in the healthcare industry is expected to increase from 22.3% in 2023 to 31.0% in 2027, with an estimated number of users of 442.8 million by 2027. These figures highlight the enormous market potential offered by the healthcare sector.
Look forward to,
Mr. Kingsley Leung, President of Uni-Bio Science said, “We are well positioned to capitalize on emerging opportunities in the healthcare market and strive to develop cutting-edge treatments and solutions that improve the lives of patients while aiming to secure greater market share. Currently, we are eagerly preparing for the launch of Bogutai®, our fifth marketed and self-developed drug, in the second half of 2023. We believe this is a pioneering step forward in the pharmaceutical landscape. To ensure the successful entry of Bogutai ® into the market, we have launched a series of strategic marketing events, including trade show meetings and academic conferences. A national press conference is also planned for the fourth quarter of 2023. These events will help raise awareness and interest from potential customers. On the other hand, we have also proactively recruited and provided intensive training for its experts. We aim to consolidate Bogutai®’s position as a leading product in its category and establish a strong market presence upon launch.
We have actively expanded our presence to encompass public and private hospitals, as well as local pharmacies. The network expansion will significantly improve our product distribution capabilities, allowing us to capture the highest levels of traffic and demand from the traditional market. Aware of the importance of digital transformation, the Group has created a dedicated marketing division that covers all digital channels, including e-commerce platforms, online hospitals and pharmacies. This will be a powerful tool to reach a wider audience at a lower cost, thus facilitating a wider presence in the market.
We continue to make efforts to meet the growing demand for the highly sought-after EGF products, GeneTime® and GeneSoft®, by constructing a new production site in Dongguan, which is expected to be completed by the end of 2023 and will will be officially operational in 2025. The site is on the verge of achieving production innovation based on industrial 4.0 principles. By integrating digitalization and raising levels of automation, the Group is entering an era of transforming manufacturing excellence to streamline operations and effectively reduce labor and production costs. By leveraging the above strategies, we are committed to providing our customers with the best products while reducing our costs and improving our long-term efficiency. »
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