Original Katsura Rice Intranet
Highlights
Recently, Tasly announced its 2023 annual report, with an operating income of 8.674 billion yuan, a year-on-year increase of 0.42%, and a net profit of 1.071 billion yuan, a year-on-year increase of 505.34%. Among them, the revenue of the traditional Chinese medicine sector was 5.971 billion yuan, a year-on-year increase of 6.62%, and the sales of exclusive varieties of compound Danshen Dripping Pills, Yang Serum Brain Granules/Pills, and Qi Shen Yiqi Dripping Pills increased significantly. The company adheres to innovation-driven, and will invest 1.315 billion yuan in R&D in 2023, a year-on-year increase of 29.49%, 41 Class 1 new drugs are under development, and 7 are expected to be launched.
Net profit soared by 505%! Sales of 5 exclusive varieties increased significantly
On April 15, Tasly released its 2023 annual report, in which the company achieved operating income of 8.674 billion yuan, a year-on-year increase of 0.42%, a net profit of 1.071 billion yuan, a year-on-year increase of 505.34%, and a non-net profit of 1.181 billion yuan, a year-on-year increase of 60.11%. The company intends to distribute a cash dividend of 3.3 yuan (tax included) to all shareholders for every 10 shares, and is expected to pay a dividend of 493 million yuan (tax included).
Tasly said that the net profit increased by 505.34% year-on-year, mainly due to the fact that the fair value change loss of financial assets held by the company during the reporting period was lower than that of the previous year, and the non-net profit increased by 60.11% year-on-year, mainly due to the increase in profit brought about by the growth of the company's main business income in the current period, and the decrease in asset impairment losses compared with the same period last year.
In terms of industries, Tasly's traditional Chinese medicine segment will achieve revenue of 5.971 billion yuan in 2023, a year-on-year increase of 6.62%. In terms of products, in 2023, the company's cardiovascular and cerebrovascular product revenue will be 5.254 billion yuan, a year-on-year increase of 3.45%, and the main products are compound Danshen Dripping Pills, Qishen Yiqi Dripping Pills, Yiqi Fumai for injection, etc., the revenue of cold and fever products will be 508 million yuan, a year-on-year increase of 18.42%, and the main products are Huoxiang Zhengqi Dripping Pills, andrographolide Dripping Pills, etc., and the revenue of liver disease treatment products will be 657 million yuan, a year-on-year increase of 12.96%, and the main products are silybin capsules.
Production and sales of core varieties
The production and sales of the six core exclusive varieties all increased, among which the sales volume of Yiqi Fumai for injection increased by 20.25%, the sales volume of Shuilinjia (silybin capsule) increased by 15.52%, the sales volume of Yangsan Brain Pill increased by 11.45%, the sales volume of compound Danshen Dripping Pill increased by 9.89%, and the sales volume of Qishen Yiqi Dripping Pill increased by 8.10%. Among them, Compound Danshen Dripping Pills, Nourishing Serum Brain Granules/Pills, and Qishen Yiqi Dripping Pills are all national medical insurance and national basic medicines.
Compound Danshen Dripping Pill is the main product of Tianlishi, and it is also the representative variety of the company's cardiovascular and cerebrovascular product line. The drug has the effect of invigorating blood circulation and removing blood stasis, regulating qi and relieving pain, and can be used for the prevention and treatment of coronary heart disease, angina pectoris, and diabetic retinopathy. According to the data of Minenet, in recent years, among the top 10 oral brands of Chinese patent medicine for terminal cardiovascular and cerebrovascular diseases in China's urban public hospitals, county-level public hospitals, urban community centers and township health centers (hereinafter referred to as China's public medical institutions), Compound Danshen Dripping Pill has continuously ranked first.
R&D investment increased by 29 percent! Storming the three major markets of 100 billion yuan
As one of the leading Chinese medicine enterprises in China, Tasly adheres to integrity and self-innovation, continues to consolidate its leading position in modern Chinese medicine, continuously increases R&D and innovation, and accelerates the R&D process of digital and intelligent Chinese medicine. In 2023, the company's R&D investment will be 1.315 billion yuan, a year-on-year increase of 29.49%, accounting for 15.17% of the company's operating income and 17.73% of the pharmaceutical industry's revenue.
Tasly R&D investment (unit: 100 million yuan)
With the efficient advancement of the R&D pipeline, Tasly has 98 products (41 Class 1 new drugs) in the pipeline under development, and 26 are in phase II and III clinical research stages, focusing on the three major disease fields of cardiovascular and cerebrovascular, digestion and metabolism, and tumors, and giving full play to the synergistic development advantages of modern Chinese medicine, biological drugs and chemical drugs.
According to data from Minenet, in 2022, the total sales of drugs for cardiovascular and cerebrovascular, digestive metabolism, and tumor immune diseases (chemical drugs, biological drugs, and Chinese patent medicines) in China's three major terminal and six major markets (see the statistical scope at the end of this article for details) will exceed 200 billion yuan.
In the past 2023, Tasly has applied for IND with one class 1 new drug of traditional Chinese medicine, antivil granules, three class 1 new drugs of biological drugs, STRO-002 injection, B1344 injection, and human umbilical cord mesenchymal stem cell injection, all of which have been granted implicit permission for clinical trials.
In terms of generic drugs, in 2023, the company's nicorandil and rivaroxaban tablets for injection will be approved for marketing and deemed to have been evaluated, and four varieties of baclofen oral solution, dapoxetine hydrochloride tablets, bendamustine hydrochloride for injection, and torsemide injection have submitted registration applications one after another.
Entering 2024, Tasly has submitted registration applications for two new drugs of traditional Chinese medicine Class 3.1, Loquat Qinglung Drink Granules, Wenjing Tang Granules, and one class 4 generic drug of chemical drugs, Glucosamine Sulfate Capsules. In addition, the company's nicorandil tablets passed the consistency evaluation and was the third in China to pass the evaluation. Up to now, 19 varieties of Tasly have passed/deemed to have passed the consistency evaluation, of which 7 are the first to pass the evaluation.
25 Class 1 new drugs have been exposed!7 can be expected to be launched
In terms of R&D of traditional Chinese medicines, Tasly's innovative R&D of traditional Chinese medicines and the secondary development of key varieties have advanced rapidly, and 19 modern Chinese medicine R&D products in the pipeline are in the phase II and III clinical research stages. Through the rational layout of "R&D generation and planning generation", Tasly's innovative TCM pipeline has gradually formed a virtuous circle of "listing a batch, clinical batch, and developing a batch", further strengthening its position as a leading enterprise in TCM R&D.
Tasly is mainly researching new Chinese medicines
Among the new TCM drugs under development, 2 TCM Category 3.1 new drugs Loquat Qinglung Drink Granules and Wenjingtang Granules have applied for NDA and are expected to be approved for marketing in 2024, and 7 TCM Category 1 new drugs Anshen Dripping Pills, Qingzhu Granules, Spinal Pain Ning Tablets, Antiwei Granules, Xiangtang Milk Fetish Ning Capsules, Lianxia Xiaoyu Granules, and Susu Pediatric Cough Granules are all in the phase III clinical research stage, involving orthopedics, respiratory, central nervous system, digestion and metabolism, gynecology, pediatrics and other disease fields, and can be marketed.
The company continued to promote the secondary development of the three core basic drugs, compound Danshen Dripping Pills, Nourishing Serum Brain Pills, and Qishen Yiqi Dripping Pills. The indication of increasing acute altitude syndrome and chronic stable angina pectoris is in the phase III clinical research stage, and the indication of increasing the indications of diabetic nephropathy and heart failure and the indication of Alzheimer's disease is in the phase II clinical research stage.
Tasly is mainly developing biological drugs and chemical drugs
In terms of R&D of biological and chemical drugs, Tasly has 13 new drugs in the approved clinical stage and above. Among them, recombinant human urokinase for injection (for the treatment of acute ischemic stroke) and PXT3003 (for the treatment of peroneal muscular atrophy) are in the phase III clinical research stage and can be marketed, and 4 new class 1 drugs ammelimumab, JS1-1-01 tablets, TSL-1502 capsules, and hepatitis B adenovirus injection for the treatment are in the phase II clinical research stage.
Source: Minenet database, company announcements
Note: The statistical scope of "China's Three Terminals and Six Major Markets" is as follows: urban public hospitals and county-level public hospitals, urban community centers and township health centers, urban physical pharmacies and online pharmacies, excluding private hospitals, private clinics, village clinics, and county and rural pharmacies;