A few days ago, Frontier Biotechnologies Inc(688221) announced the performance express for 2021, which realized a total operating revenue of 405029 million yuan in 2021, a decrease of 13.13% over the previous year; The R & D expenditure was about 160 million yuan to 180 million yuan, with a year-on-year increase of 15.53% to 29.97%.
The report points out that the company’s main revenue comes from the sales revenue of self-developed anti HIV innovative drug aikening (common name: aiboweitai) in China. In 2021, the sales volume of aikening increased year-on-year. Due to the influence of covid-19 epidemic and the sharp reduction of the sales price after aikening was included in the medical insurance catalogue, the scale of the company’s operating revenue decreased year-on-year.
Acning is the 1 class of new drugs in the country. The world’s first approved HIV long-acting fusion inhibitor is the first in the field of long-term AIDS treatment. Aikening has achieved technological breakthroughs in molecular structure, polypeptide sequence and chemical modification, action target, distribution and metabolism in human body, and its clinical effect has been effectively verified and academically recognized. Since it was approved to be listed in China in 2018, It has been included in the China AIDS diagnosis and treatment guide (2018 Edition), the expert consensus on the strategy of changing the AIDS treatment for AIDS, and China’s AIDS diagnosis and treatment guide (2021 Edition). In March 2021, aikening entered the national medical insurance catalogue, and the policy was implemented. The terminal price of drugs decreased by 46%, which greatly improved the affordability and accessibility of patients to aikening.
In 2021, Frontier Biotechnologies Inc(688221) ‘s R & D spending continued to grow. The pipeline included anti HIV long-term innovative combination therapy FB1002, anti New Coronavirus new drug FB2001, new transdermal patch FB3001 and other reserve items for treating musculoskeletal pain.
It is worth mentioning that covid-19 drug development is gaining momentum Frontier Biotechnologies Inc(688221) launched the prospective drug research and development layout in the early stage of the outbreak. In the research, the new COVID-19 FB2001 is New Coronavirus (SARS-CoV-2) protease inhibitor. It is based on the three dimensional structure of the coronavirus main protease (3CL protease). It is synthesized in the clinical application and product dosage form. The target product is Reed Wei Wei. If fb2001 can be expected to be successfully listed, it may be more competitive in terms of action mechanism and development cost, and meet the huge clinical needs of moderate and severe hospitalized patients of covid-19. At present, fb2001 is carrying out clinical phase I research in China and the United States. As the only protease inhibitor entering the clinical trial stage in China, its clinical trial progress is relatively leading in the world.
Sustained scientific research investment is the original driving force to maintain the core competitiveness of innovative Biopharmaceutical Enterprises. From the past achievements and strategic development direction, Frontier Biotechnologies Inc(688221) future growth space is worthy of investors.
