3SBio (01530.HK) today announced 2024 interim results. According to its results announcement, revenue in the first half of 2024 grew by 16.0% year on year to approximately RMB 4.39 billion. Gross profit added 18.6% year on year to approximately RMB 3.80 billion. Net profit attributable to owners of the parent adjusted for non-operating items was approximately RMB 1.11 billion, marking a 1.5% rise over the same period last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for non-operating items were approximately RMB 1.66 billion, reflecting a 17.0% increase year on year.

Biopharmaceuticals achieve steady growth 
 
In the first half of 2024, 3SBio continued to pursue expanded indications for its core biopharmaceuticals, deepened market penetration and enhanced drug accessibility.

Sales of TPIAO, the world’s only commercial recombinant human thrombopoietin (rhTPO) used to treat thrombocytopenia, were approximately RMB 2.48 billion in the first half, marking a year-on-year rise of 22.6%. In April, the product was approved for its third indication as a treatment of persistent or chronic primary immune thrombocytopenia in children and adolescents.

Sales of EPIAO and SEPO, the recombinant human erythropoietin (rhEPO), totaled approximately RMB 516 million in the first half of 2024, marking an 11.3% year-on-year increase. EPIAO’s indication for red blood cell mobilization in perioperative surgery has been included in the national reimbursement drug list 2024.

Sales of Yisaipu for the treatment of rheumatoid arthritis, ankylosing spondylitis and psoriasis were RMB 329 million in the first half, up 9.5% from the same period last year. 

Sales of Cipterbin for the treatment of HER2-positive metastatic breast cancer were RMB 162 million in the first half, a jump of 48.9% year on year. 

Hair health portfolio further enriched 

In January 2024, Mandi foam formulation was approved for launch. It uses proprietary technology to enhance solvent composition, making it suitable for sensitive individuals, while improving penetration and reducing onset time compared to the first-generation tincture. In the first half of 2024, Mandi’s full series achieved sales of RMB 550 million, a year-on-year increase of about 10.0%. As the first approved over-the-counter (OTC) minoxidil foam, Mandi foam, along with Mandi’s white and elf bottles, offers more options for Chinese patients with androgenetic alopecia, catering to diverse user preferences and further strengthening the Mandi brand’s leadership in the minoxidil market.