On April 22, the former “first brother of medicine” Jiangsu Hengrui Medicine Co.Ltd(600276) ( Jiangsu Hengrui Medicine Co.Ltd(600276) ) released the annual report for 2021. During the reporting period, the company achieved an operating revenue of 25.906 billion yuan, a year-on-year decrease of 6.59%; The net profit attributable to the parent company was 4.53 billion yuan, a year-on-year decrease of 28.41%; The net profit after deducting non-profit was 4.201 billion yuan, a year-on-year decrease of 29.53%.
for the decline of performance, Jiangsu Hengrui Medicine Co.Ltd(600276) explained that the company’s performance was comprehensively affected by factors such as the company’s accelerated R & D investment, centralized volume procurement and sharp price reduction of national medical insurance negotiation products, as well as the continuous rise of raw and auxiliary materials and other cost prices
Jiangsu Hengrui Medicine Co.Ltd(600276) , which is in the throes of transformation, is also under pressure in the first quarter: in the first quarter of this year, the company realized an operating revenue of 5.479 billion yuan, a net profit attributable to the parent company of 1.237 billion yuan and a deduction of non net profit of 1.18 billion yuan.
In the face of severe and complex competitive environment and industrial changes, Jiangsu Hengrui Medicine Co.Ltd(600276) still increased R & D investment. In 2021, the cumulative R & D investment was 6.203 billion yuan, an increase of 24.34% over the previous year, and the proportion of R & D investment in sales revenue reached 23.95%, a record high for the company.
R & D pipeline expanded to ophthalmology, nuclear medicine and other fields
During the reporting period, Jiangsu Hengrui Medicine Co.Ltd(600276) independently developed innovative drugs haitripopa ethanolamine tablets, proline hengglitazin tablets and darcilil hydroxyethanesulfonate tablets were approved for listing, and the number of innovative drugs on the market increased to 10.
in addition, more than 60 innovative drugs are under clinical development, and more than 250 clinical trials have been carried out outside China indications approved: four new indications of carrelizumab for injection have been approved successively, with 8 approved indications, which is the domestic PD-1 with the most approved indications at present. The second indication of fluzopari capsule and the third indication of remazolam toluenesulfonate for injection have been approved for listing.
The company has obtained 10 approval documents for the production of innovative pharmaceutical preparations, 16 approval documents for the production of generic pharmaceutical preparations and 108 clinical approval documents for drugs, obtained approval documents for the consistency evaluation of 16 varieties, and completed the application for the consistency evaluation of 5 products. Three clinical trials have been included in the list of breakthrough treatments, and five listing applications have been given priority.
The achievement of the above achievements is closely related to the high R & D investment of Jiangsu Hengrui Medicine Co.Ltd(600276) for a long time The annual report shows that the company invested 6.203 billion yuan in R & D last year, an increase of 24.34% over the same period last year, and the proportion of R & D investment in sales revenue reached 23.95%, a record high for the company
Jiangsu Hengrui Medicine Co.Ltd(600276) has rich R & D pipelines in the field of cancer. In addition, it is noteworthy that the company’s R & D pipeline has been expanded to other fields such as ophthalmology and nuclear medicine to create a diversified strategic pillar for long-term development.
In 2021, Jiangsu Hengrui Medicine Co.Ltd(600276) a total of 9 drugs including fluzopparil capsule, haitripopal ethanolamine tablets and remazolam toluenesulfonate for injection entered the national medical insurance catalogue. So far, the total number of drugs Hengrui has entered the national medical insurance has reached 85, and the vast majority of innovative drugs that have been listed have entered the medical insurance, contributing to the benefit of the people’s livelihood.
fully launch the working mode of global product development team
Jiangsu Hengrui Medicine Co.Ltd(600276) ‘s internationalization strategy has also attracted the attention of all parties.
The annual report shows that Jiangsu Hengrui Medicine Co.Ltd(600276) overseas R & D investment during the reporting period was 1.236 billion yuan, accounting for 19.93% of the total R & D investment. At present, the company has established a complete clinical R & D team in the United States and Europe, and comprehensively launched the work mode of global product development team.
data show that at present, the company’s overseas R & D team has a total of more than 170 people, and the main members are middle and senior talents from well-known pharmaceutical companies such as Roche, Novartis, Pfizer and Merck
The announcement shows that during the reporting period, the company carried out nearly 20 international clinical trials, including 7 International multi center phase III projects, and more than 10 studies are in the preparation stage Jiangsu Hengrui Medicine Co.Ltd(600276) the first international multicenter phase III clinical study – the international multicenter phase III study of carrelizumab combined with apatinib in the treatment of advanced liver cancer has submitted a listing application in China. The project team has started the preparation work before the submission of FDA BLA / NDA, and has completed several rounds of communication with FDA, which is planned to be submitted in 2022. Based on this study, carrelizumab for the treatment of advanced hepatocellular carcinoma has obtained the qualification of FDA orphan drug, and is expected to enjoy policy support in the follow-up research and development and commercialization. At the same time, many projects have obtained clinical trial qualifications in the United States, Europe, Australia, South Korea and other countries and regions, and many products such as shr-a1811, ins068, shr-1819 and shr-1707 have successfully realized global synchronous development.
It is understood that the company continues to promote overseas registration applications, and carmustine for injection has been approved for listing in the United States and Australia. Jiangsu Hengrui Medicine Co.Ltd(600276) has obtained 21 registration approvals, including injections, oral preparations and inhaled anesthetics, in Europe, America and Japan, and another preparation product has obtained temporary approval in the United States.
sales staff reduced by nearly 4000
Jiangsu Hengrui Medicine Co.Ltd(600276) , which is in the throes of transformation, is also trying to “streamline troops and simplify administration”.
According to the annual report, the company vigorously promoted sales reform, integrated and improved the organizational structure, abolished the regional hierarchical structure, significantly reduced low-performance provinces and offices, integrated the functions of sales operation, marketing finance and support departments, and streamlined sales personnel. The number of sales personnel was optimized from 17138 at the beginning of the year to 13208, further reducing sales operation costs and improving sales operation efficiency.
At the same time, Jiangsu Hengrui Medicine Co.Ltd(600276) is also strengthening the construction of organizational talents. In 2021, more than 600 core technical talents were introduced, including more than 200 with doctor’s degree or above and more than 100 with overseas study or work experience. The recent appointment of two R & D executives, Zhang Xiaojing and Wang Quanren, is a reflection of the specialization and rejuvenation of the company’s talent training and R & D management talents.
In terms of employee incentive, in March this year, Jiangsu Hengrui Medicine Co.Ltd(600276) announced that it planned to buy back the company’s shares from the secondary market by means of centralized bidding transaction with a maximum of 1.2 billion yuan for employee stock ownership plan to fully mobilize the enthusiasm of employees.
